Rujira Money Market
Research, firm shelf, model-client eligibility, and advisor selection are recorded separately. The scheduled date is the outside bound; new evidence can reopen the file sooner.
Rujira Money Market is outside the current firm shelf because its structure maps to the rejected-chain policy class. This is a firm-policy classification, not an adverse quality rating and not a client trade instruction. The factual mechanism, control, loss, and exit evidence is retained below.
- THORChain receives a favorable versioned Ketju control assessment with no chain review trigger active
- Rujira launches a material, independently verifiable lending deployment on an approved chain
The research file
Mechanism applicability
Rujira is an application layer on THORChain offering an order book, automated liquidity strategies, lending, liquidations and staking over native assets. The money market lends those native assets, so balances, collateral, interest accrual, liquidation and withdrawal are all recorded and executed by THORChain itself rather than by contracts on an independently reviewed settlement layer.
Current observation and perimeter
The DefiLlama protocol API read on 2026-09-15 classified Rujira Money Market as Lending and reported approximately $1.71M on a THORChain-only perimeter, listed on 2026-08-11 with no recorded audit. The yield survey the same day observed six pools, all on THORChain.
Control and exit applicability
THORChain validator operation, finality, its native swap and settlement logic, and its emergency controls sit beneath every lending state transition here, and none of them has a versioned Ketju control assessment. Utilization constrains withdrawable supply in the ordinary way for pooled lending, and liquidation depends on the same chain continuing to price and settle.
Firm shelf classification
The rejected-chain class is outside the current firm shelf. Research describes the product; firm policy determines shelf eligibility; client constraints determine the candidate set; and the advisor alone selects any action or amount.
Sources
The claims above trace to these. Where a number could not be independently verified, the thesis says so.
- Rujira · primary · accessed 2026-09-15
Supports: protocol identity, THORChain application layer, native-asset lending, order book, liquidations - DefiLlama — Rujira Money Market record · secondary · accessed 2026-09-15
Supports: current TVL, THORChain perimeter, Lending category, listing date, no recorded audit
Inherited controls
The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The most administered layer sets the position’s effective control grade; that is a control description, not a quality or suitability score.
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