Elrond is known for its high-throughput blockchain that can climb up to 100,000 transactions per second with low latency and negligible cost.
They had released a revelation about accelerating the launch of the Maiar DEX DeFi platform. On top of that, they also disclosed a $1 billion liquidity boost program.
In history, this is arguably the largest DeFi incentive program that was planned. It also represents a major step towards pushing DeFi adoption into the mainstream. This exceeds the boundaries of the current crypto space.
Incentives expresses in MEX, Maiar DEX utility tokens, and managed service tokens. As such, of the $1.29 billion worth of MEX tokens, $282 million in the first month will be equally divided among Maiar DEX users. This will provide liquidity for EGLD, MEX, and USDC tokens.
With its confusing schedule, the program kicks off on November 19th . This has the same schedule as the final launch of the fully community-owned DeFi platform. The program has already allocated ownership of over 60,000 accounts in the form of reusable MEX tokens.
Elrond’s Stress-tested Platform
The platform stress-tests at numerous public activities that demonstrated its performance and scalability in the harshest environments. Furthermore, Runtime Verification seriously totals and officially checks the Maiar DEX’s smart contracts.
Maiar Exchange’s powerful and easy-to-use user interface combines with the intuitive Maiar app. This allows novice users to obtain a secure cryptocurrency wallet in less than a minute using only their phone number. In addition to that, this sets a strong new standard. Therefore, it drives DeFi to finally be accept it.
Beniamin Mincu, Elrond Network CEO, stated that the process of distributing Maiar DEX ownership to the next billion users will create a strong foundation that will focus on the global financial system. In this way, everything will be accessible to anyone in the world.
Since an enormous incentive program is currently in motion, Elrond seeks to establish a liquidity bootstrapping mechanism in the outside world. They designed it to be the fastest and most powerful apparatus.
After the first month, plans will continue to accelerate adoption with a follow-up incentive program. This is for the users of the biggest DeFi platform in the ecosystem. It may also claim MEX tokens proportional to product activity, such as Uniswap, PancakeSwap, or Sushi exchange.
By providing an unprecedented number of incentives, Elrond is driving the expansion of DeFi products worldwide. On the other hand, financial products using blockchain technology have already demonstrated their effectiveness and availability.
About the Company
The company creates a blockchain from the ground. It delivers a 1,000-fold cumulative advancement in its productivity and execution speed. Elrond introduces the the two key innovations, New Adaptive State Sharding mechanism and the Secure Proof of Stake (PoS) algorithm.
Each provides linear scalability through a fast, efficient, and secure consensus mechanism.
Believe it or not, it can make up to 10,000 exchanges per second (TPS) with just a 5-second reaction time that also requires a small fee. In addition, it is becoming the backbone of a borderless, permissionless global Internet economy.
“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”