Terra: Team Kujira Liquidation fulfillment bids

Did you know that you can earn interest on @TeamKujira $aUST bids?

First of all, what's @TeamKujira ?

@TeamKujira is several things, but I'll focus on its liquidation fulfillment system today, and how you can earn interest bidding on liquidation fulfillments.

So! Liquidations occur on @anchor_protocol when loans exceed maximum LTV. How are these loan liquidations fulfilled? Before it used to be whales that would snipe in and buy the liquidated $LUNA or $bETH at a high premium. @TeamKujira has an alternative.

What @TeamKujira offers is a bidding system, where anyone can make a bid on a liquidation fulfillment, and when your bid satisfies the requirements – TADA! – you just fulfilled a loan liquidation: here's your $LUNA or $bETH! 

I like this system. I like it a lot. Why? It allows you and me, the little guys in crypto, to buy $LUNA or $bETH at a discount AND when it's at a low, too!

SWEET!

But what's not so sweet about it, is you bid your $UST and you wait. And wait. It's just sitting there.

So, @TeamKujira came up with a plan that fixes this issue. Instead of bidding with $UST, they now have an option to bid with $aUST.

"So what?" sez you.

I'm glad you asked that question, but first, let's load up our @anchor_protocol EARN to have some $aUST on hand.

Side note: you see I load my @anchor_protocol EARN on @TeamKujira $aUST tab. Why? The fees are much lower via @TeamKujira, that's all. You can deposit in either place: the money still ends up in @anchor_protocol EARN. #PSA 

BUT NOW THAT WE HAVE DA MONAY TO BID! ...

... let's bid. Obvie.

How does bidding work? It's really easy, actually. You select a premium rate you're willing to bid on, you select $aUST, and fill in how much you want to bid.

TADA! YOU'RE A LIQUIDATOR-FULFILLER!

Now, when you place your bid, you're asked which tier you want to place it, depending on the riskiness of the loan. It defaults to high-risk loans, which is cool (I'm all about liquidating high-risk loans), but you can change that value, if you wish.

That was a bid on bonded $LUNA, but you can also bid on $bETH, by selecting that collateral-type. Let's bid on $bETH liquidation fulfillments, too.

Okay, so now you have bids (we can talk bidding strategies later), which brings us back to your "So what?"-question.

The 'So what?' is that if you scroll down to the next panel, you see that these bids are 'Interest Earning'-bids. What does this mean?

So, this 'Interest Earning' is a double-happiness:

1. When the bid is fulfilled, you get discounted $LUNA or $bETH! YAY! 
2. But when not, your bid is EARNING INTEREST NOW! WOOT!

It's the bank, but ACTIVE, baybee! 😎

You can check all your bids in the aUST-tab.

That's it. Yay!

Now, a note on sniping strategy. I'll tell you mine:

I need more $LUNA.

That's my strategy. So I bid *under* everybody else's bid, because I need more $LUNA: which I get at low price (because that's when liquidations occur) and a discount.

Oh, and p.s.: while writing this, my bid fulfilled another $LUNA liquidation, because @TeamKujira is awesome!

The. End.