Elrond’s new DEX Maiar incentive program designed to fuel its liquidity ecosystem
Elrond Network, a Romanian start-up behind the high-performance blockchain platform Elrond (EGLD), started its most ambitious liquidity stimulation program so far.
$ 1,290,000,000 in MEX tokens to motivate Maiar’s LPs
According to the official announcement shared by the Elrond Network team on its official social media channels, today, November 19, 2021, the largest liquidity initiative for its ecosystem has started.
Within the framework of the newly launched program, $1.29 billion in MEX, a core native utility and governance asset of Maiar DEX, will be distributed between the providers of liquidity who inject MEX, USD Coin (USDC) and EGLD tokens into Maiar’s ecosystem.
In the first month of the program, $ 282 million in redeemable MEX tokens will be transferred to over 60,000 qualifying qualifying accounts.
Beniamin Mincu, Elrond Network CEO and co-founder, stresses the importance of this program for the evolution of Maiar DEX’s liquidity architecture and its decentralization status:
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.
Maiar DEX aims at challenging the supremacy of Uniswap, SushiSwap, PancakeSwap
As such, MEX tokenholders are now able to have a say in community referendums on all crucial upgrades on the platform: Maiar evolves into a user-driven decentralized finance ecosystem.
The Elrond Network team is certain that with such liquidity incentive programs, their DEX Maiar has every chance of becoming the next Uniswap or SushiSwap.
As covered by U.Today previously, Maiar DEX, a high-speed user-friendly crypto storage and transfer solution, is a flagship retail product by Elrond Network.
It operates Elrond’s smart contracts and is capable of processing up to 100,000 transactions per second for nominal fees.
