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    Home » Maiar, the incentive program planned by Elrond!
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    Maiar, the incentive program planned by Elrond!

    AdminBy AdminJanuary 21, 2022No Comments6 Mins Read
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    Today, who does not have their own decentralized exchange? Recently, we described the launch of the DEX Maiar by the Elrond project. It is an essential tool for projects to meet the demand of users and investors. It is often the possibility of offering a decentralized finance space to exchange, swap currencies or participate in farming activities… Just as important for the project, which allows it to hold liquidity thanks to the pools put in place. The sinews of war today is the ability of an ecosystem to attract liquidity to its platform. There are many incentive programs such as play-to-earn or other reward programs often sought after by investors. Indeed, Maiar is no exception to the rule and offers in parallel with the launch of its decentralized exchange an incentive program.

    In this article, let’s discover the terms of this new incentive program. How does it work ? And what is this new MEX token promoted by the Elrond project and its Maiar platform.

    Elrond

    Last November 19, Beniamin Mincu announced the launch of the long-awaited Maiar Exchange, the decentralized exchange of the Elrond project.

    1/ TODAY IS THE DAY.

    The Maiar DEX is going live 🌕

    A state of the art DEX built on a sharded architecture, w/ 100% community ownership.

    Unveiling Elrond Superwave, a $1.29 Billion USD liquidity mining incentive program for 1y, w/ $282M for first month.https://t.co/IYxYS0Y8ry

    — Beniamin Mincu 🔥🌓 (@beniaminmincu) November 19, 2021

    Built on state-of-the-art technology on a fragmented architecture, the community owns 100% ownership of the DEX Maiar. At the same time, there is the launch and deployment of the strategy ” Elrond Superwave ». This is a cash mining incentive program that is $1.29 billion for 1 year. From the first month, 282 million dollars will be distributed.

    The Maiar exchange provides a powerful new standard that will drive adoption of the Challenge. Thanks to its highly intuitive features that allow users to use a wallet in less than a minute with a phone number. Secure as well as easy to use, Maiar DEX enhances the user experience.

    The Maiar DEX

    The DEX Maiar platform was developed by the Elrond project teams, it works thanks to an AMM (Automated Market Maker). It runs on a fully-partitioned blockchain architecture called the “ Sharding “.

    It combines powerful UX, intuitive design, scalable infrastructure and incentives. The community-owned Maiar DEX platform aims to bring Internet-wide adoption of the Challenge.

    Liquidity incentive program

    This $1.29 billion incentive program helps boost the launch of the Maiair DEX DéFi platform. It represents a further step towards access to decentralized finance for all. ” This may be the biggest incentive scheme ever launched in the cryptocurrency world “, boast the representatives of the project.

    All incentives and rewards will be issued in MEX, the utility and governance token of the Maiar DEX. Initially, $282 million will be distributed to users who deposit EGLD, MEX and USDC tokens.

    The DeFi platform had already distributed ownership to over 60,000 accounts in the form of claimable MEX tokens. And as the CEO of the project points out: “ By distributing ownership of Maiar DEX to the next billion users, we are laying the foundation for a truly global financial system accessible to everyone, everywhere.“. The idea is to distribute ownership to provide global access.

    This massive incentive program will be one of the strongest and fastest cash-priming mechanisms.

    The following

    Following the first month, the plans put in place to accelerate adoption and gain liquidity within the decentralized exchange will continue. An incentive program in collaboration with other major platforms in the sector such as Uniswap, SushiSwap or PancakeSwap for example.

    This program could claim MEX tokens from users based on their activity with other products.

    These financial products using blockchain technology have already proven their effectiveness and accessibility. Thanks to an unprecedented amount of incentives, Elrond is making an unprecedented effort to develop the products in the DeFi ecosystem internationally.

    What is the MEX token?

    MEX is the utility token that powers the Maiar platform. It is used for the governance of the decentralized exchange, as fuel for the perpetual decision-making process. Governance will be able to maintain innovation, operating model, listing policies and other actions to create a sustainable market.

    Moreover, this token is designed as a mechanism to capture value. It is an incentive vehicle that enables economic advances and promises to improve for adoption.

    The teams recognize the importance of linking the value generated by the decentralized platform as well as the value captured by the MEX token.

    The cash flows generated by DEX Maiar will evolve together with the MEX token thanks to the incentives. Traders and holders have strong long-term incentives to engage with MEX.

    The timing of MEX issues is also very important. The creation of this token is unique in the world of cryptocurrencies. It further serves to act as a token distribution and liquidity seeding mechanism for the platform.

    In order to quickly improve growth, the first month of the launch was aggressive. You can find the initial launch schedule here. It was simply intended to quickly obtain liquidity to start issuing the first products, followed by a gradual reduction in rewards in favor of token custody to favor the long term.

    MEX Supply, Distribution and Issuance

    The main function of this token is to incentivize the supply of liquidity to the platform. It is an inflationary token since it has no set cap. The objective of the project is all the same to make deflation superior to emissions with the integration of deflationary mechanisms in MEX products. Eventually, there must be more MEX tokens going out of circulation than the total amount created.

    Today it is 0.05% of the fees of the liquidity pools used to buy MEX and burn it. Tomorrow, more burn mechanics will be introduced with new products launched on the DEX Maiar.

    Below is the breakdown of the actual number of MEX tokens to be distributed in the first year.

    MEX Elrond's Incentive Token

    Conclusion

    The debut of the DEX Maiar has been a thunderous one, resulting in above-target results with very high liquidity right from the launch of the platform. Something to delight the teams and founders of the project. Investors and users proudly hailed the success of this launch and hope to see the Elrond project continue to move forward. A project that works for the mass adoption and democratization of cryptocurrencies.

    $1.29 billion is the sum committed to encourage users to deposit their cash within this decentralized exchange. An astronomical amount that highlights Elrond’s motivations!

    We wish good luck to this ecosystem, which for the moment delights the entire crypto community!

    Emile Stantina

    “Stan – “Chancellor on brink of second bailout for banks” The solitary man thinks alone and creates new values ​​for the community “

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