1/ The Maiar DEX is a monster.
It has the power of a Hydra, but also the complexity of its 100 heads.
Yesterday, we got to test the first version fully.
It’s a remarkable milestone.
So here’s an important update & exciting next steps. 🧵
It has the power of a Hydra, but also the complexity of its 100 heads.
Yesterday, we got to test the first version fully.
It’s a remarkable milestone.
So here’s an important update & exciting next steps. 🧵
2/ First things first.
Traction for key Elrond metrics continues to grow significantly.
619k addresses, 5.8 mil transactions, 63% staked.
explorer.elrond.com
Traction for key Elrond metrics continues to grow significantly.
619k addresses, 5.8 mil transactions, 63% staked.
explorer.elrond.com
3/ Second, staking 3.5 is a big milestone that went live on Monday, improving stake fluidity and expanding the Elrond validator ecosystem, enabling even further decentralization.
https://twitter.com/LucianMincu/status/1403348735292231681?s=20
4/ Third, there's a huge amount of progress on the dev stack.
New VM upgrade, new language improvements, documentation updates, dApp component updates.
Why do these matter?
They’re the cornerstones for the next building phase.
New VM upgrade, new language improvements, documentation updates, dApp component updates.
Why do these matter?
They’re the cornerstones for the next building phase.
https://twitter.com/BRosianu/status/1403766371243134995?s=20
5/ Fourth, Maiar. Constantly pushing things to the next level.
New users, new languages, new features, deeper dApp integrations.
And now, new assets and networks as well.
New users, new languages, new features, deeper dApp integrations.
And now, new assets and networks as well.
https://twitter.com/beniaminmincu/status/1405571936701255680?s=20
6/ But growth happens in a non-linear fashion.
One step adds to another until suddenly, a critical mass is reached.
Every step matters. A lot.
Most won’t see their real value until a tipping point has emerged.
Slowly, then suddenly.
One step adds to another until suddenly, a critical mass is reached.
Every step matters. A lot.
Most won’t see their real value until a tipping point has emerged.
Slowly, then suddenly.
7/ Great, so where's the Maiar DEX?
Progress has been challenging & exhilarating.
Challenging bc of the number of things that had to align & the amount of effort it has required from the team.
Exhilarating bc of the great progress we've made and the growth vectors it unlocks
Progress has been challenging & exhilarating.
Challenging bc of the number of things that had to align & the amount of effort it has required from the team.
Exhilarating bc of the great progress we've made and the growth vectors it unlocks
8/Good to hear. Now where are we with the launch?
Recall that in order to launch we needed:
(a) The mainnet w/ ESDT tokens live
(b) the conceptual design w/ MEX incentives
(c) SCs & backend required for the Maiar exchange
(d) Maiar Exchange frontend
(e) Maiar connect element
Recall that in order to launch we needed:
(a) The mainnet w/ ESDT tokens live
(b) the conceptual design w/ MEX incentives
(c) SCs & backend required for the Maiar exchange
(d) Maiar Exchange frontend
(e) Maiar connect element
9/ So, what's the progress on each?
(a) - done
(b) - done
(c) - done
(d) - first version done
(e) - done
Great, so why is this taking so long if progress is going so well?
(a) - done
(b) - done
(c) - done
(d) - first version done
(e) - done
Great, so why is this taking so long if progress is going so well?
10/ Turns out that in addition to the above, several other components had to be added and finalized as well:
(f) - Maiar exchange microservice
(g) - Maiar exchange API
(h) - New Arwen VM upgrade
(i) - Elrond Bridges
(j) - Security audits for all of those
(f) - Maiar exchange microservice
(g) - Maiar exchange API
(h) - New Arwen VM upgrade
(i) - Elrond Bridges
(j) - Security audits for all of those
11/ Interesting, so what's the progress on each?
(f) - 1st version done
(g) - 1st version done
(h) - new Arwen VM deployed, going live on June 21
(i) - bridge contracts 99% finalized, specs to be published next week
(j) - 99% done, continues during the next few days
(f) - 1st version done
(g) - 1st version done
(h) - new Arwen VM deployed, going live on June 21
(i) - bridge contracts 99% finalized, specs to be published next week
(j) - 99% done, continues during the next few days
12/ Staying with the Hydra metaphor, the Maiar DEX will be a massive force, growth vector & validation for the Elrond ecosystem & the broader blockchain space.
Liquidity provision, yield farming, new projects & community governance will be the new frontier for experimentation.
Liquidity provision, yield farming, new projects & community governance will be the new frontier for experimentation.
13/ With Elrond’s community and Maiar’s UX, the addressable market for DeFI is taken to the next level.
To get the first version out, a massive engineering complexity had to be conquered by the team.
To get the first version out, a massive engineering complexity had to be conquered by the team.
14/ The great part is that we are very close now, with most things falling in place.
We just need a final epic push, together with the Elrond community.
We just need a final epic push, together with the Elrond community.
15/ One thing to underscore is that the Maiar DEX comes with a fresh and powerful economics design.
Creating a strong incentive for both rapid initial bootstrapping, as well as great long-term alignment and contribution.
elrond.com/blog/maiar-exc…
Creating a strong incentive for both rapid initial bootstrapping, as well as great long-term alignment and contribution.
elrond.com/blog/maiar-exc…
16/ Everyone will enjoy the significant benefits and utility of the Maiar DEX.
It’s why this final push is as important as everything.
Excellent, so when is the launch happening?
It’s why this final push is as important as everything.
Excellent, so when is the launch happening?
17/ The big Maiar DEX launch will come in 2 phases:
(1) Public testnet opens for everyone next week, w/ Battle of Yields incentivized event to start shortly after.
(2) The big Maiar DEX launch will come shortly after the Battle of the yields ends, pending security conclusions.
(1) Public testnet opens for everyone next week, w/ Battle of Yields incentivized event to start shortly after.
(2) The big Maiar DEX launch will come shortly after the Battle of the yields ends, pending security conclusions.
18/ We’ve all been waiting for this.
And now the moment has finally come.
Time to get ready for the Battle of Yields. ⚔️
And now the moment has finally come.
Time to get ready for the Battle of Yields. ⚔️
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