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Elrond Launches $1.29B Liquidity Incentive Program For Maiar DEX -Breaking

by Mike Robinson

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Elrond launches a $1.29B liquidity incentive program for maiar DEX
  • Elrond unveils its $1B liquidity incentive program
  • The platform will be upgraded to Maiar DEX DeFi.
  • This could make the DeFi program the largest incentive ever created.

The high throughput blockchain capable of scaling beyond 100,000 transactions per second at low latency and negligible costs — Elrond, makes a big announcement. To accelerate its Maiar DEX DeFi platform launch, the company is offering a $1 billion liquidity program.

It is perhaps the biggest incentive program for DeFi yet. It is an important step in pushing DeFi adoption to the next level beyond crypto’s current boundaries. It aims to make DeFi mainstream adoption possible.

In particular, the incentives will be denominated in MEX — the Maiar DEX governance and utility token. Maiar DEX users will receive $1.29 million worth MEX tokens. These tokens will go to those who offer liquidity in USTC, MEX or EGLD. In fact, 282 million of the $1.29 Billion will be distributed in the initial month.

The program will begin on November 19, which is the most important. The program will be launched on November 19.

The CEO of Elrond Network — Beniamin Mincu, says

In distributing Maiar DEX ownership across the next billion users we are laying the foundation for a global financial system that is easily accessible by everyone.

The Maiar DEX smart contracts have been subject to rigorous auditing, formal verification via Runtime Verification and other interesting perks. In reality, the platform has been stressed-tested at a number of events incentivized to the public that validate its capability to scale in the worst conditions.

All this, coupled with the Maiar App, which allows users to quickly get crypto wallets in less than a minute by using a single phone number, and the attractive, yet simple-to-use UX of Maiar Exchange create an entirely new standard that will drive DeFi adoption.

After achieving success in the first month of adoption, the plans for accelerating adoption will be continued with an incentive program targeted at users who use the most DeFi platforms within the ecosystem. They will be eligible to receive MEX tokens in proportion to the amount of activity they have with products like Pancake Swap or Sushi Swap.

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