Elrond Launched $1.29 Bln Liquidity Incentive for Maiar DEX Today

Elrond Launched $1.29 Bln Liquidity Incentive for Maiar DEX Today

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 team of Elrond Network on its official social media channels, today, on Nov. 19, 2021, the largest liquidity initiative for its ecosystem has begun.

1/ Today is a grand day for Elrond, and the Maiar DEX. 🌕Last days have been insane, hyper focused on putting all the pieces together for the launch.We are now almost ready.Here's the plan.— Beniamin Mincu ⚡ (@beniaminmincu) November 19, 2021

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.

During the first month of the program, $282 million in the form of claimable MEX Tokens will be transferred to more than 60,000 eligible accounts eligible.

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 Maiar DEX ownership to the next billion users, we lay the foundation for a truly global financial system that is 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, its DEX Maiar has every chance to become 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 leverages Elrond's smart contracts and is able to process up to 100,000 transactions per second for trivial fees.

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