KULA
KULA is the decentralized-finance (DeFi) layer of the SoapBox ecosystem — a token, a decentralized exchange (KulaSwap), and a collateral system that live on the compute chain PRANA. Where MELEK is the social coin and PRANA is the mining coin, KULA is the money layer that ties value across the ecosystem together.
What KULA is
KULA is a PRC-20 token (an ERC-20 on PRANA — see Token standards). It plays three roles at once:
- The DEX coin — the base asset of KulaSwap, a Uniswap-V2-style automated market maker where any PRC-20 can be pooled and swapped.
- DeFi collateral (a CDP) — lock KULA into a Collateralized Debt Position to borrow against it, MakerDAO-style: over-collateralized, liquidatable if it falls under-water. This is how the ecosystem gets a dollar-like stable without MELEK having to issue one.
- A burn sink with a floor — the MultiBurnMine lets many tokens and coins be burned in to mint KULA out, and burning establishes a Proof-of-Liquidity price floor.
KulaSwap
KulaSwap is the on-chain exchange: swap tab, liquidity pools, yield farms, and the borrow/CDP calculators, all over tested models. Because PRANA is EVM, KulaSwap trades any PRC-20 — including wrapped assets bridged in from other chains (wMELEK, wVKBT, wCURE), so value from MELEK and the Hive-Engine side can trade here through a K-of-N federated bridge.
KULA and PRANA mining
Miners of PRANA earn PRANA + KULA as a paired reward — the ecosystem's version of the STEEM/SBD pair, but for EVM miners. KULA is the piece that makes that pairing a real DeFi economy rather than just a second coin.
Opening pairs
MELEK/KULA, VKBT/KULA, and CURE/KULA are among the first trading pairs — MELEK from its own chain (via the deposit bridge) and VKBT / CURE bridged in from the Hive-Engine side.
Where KULA fits
KULA is the DeFi layer: MELEK (social), PRANA (compute), and KULA (DeFi — DEX, collateral, stable mechanism). The apps that use all three are SoapBox.
See also: PRANA · MELEK · SoapBox · PRC-20 token standards · KulaSwap