Thread by @beniaminmincu

1/ Today the Maiar DEX is going to the next level.

The first Maiar improvement proposal with an upgraded economics model is going live at ~20:30 UTC.

The RIDE token is preparing for listing next week.

Here are the most important things to know.

2/ Context for today’s Maiar improvement proposal shared in Elrond town hall:


Full economics model upgrade here:
maiar.exchange/mex-economics-…

3/ The Maiar DEX has reached a remarkable point.

With the launch, we have achieved unparalleled bootstrapping.

Both in scale, and speed of growth.

The next step will focus on ensuring long term alignment and sustained growth.

4/ So, how do we ensure long term alignment and sustained growth?

Two ways.

Reward caps, and differentiated pools.

That is, capped rewards for mercenary capital and unlocked rewards, and disproportionately higher rewards for long term contributors and locked rewards.

5/ Sounds great! So what does this mean in practice?

In practice, rewards will be distributed ~95% vs ~5% between locked vs unlocked pools, evolving over time, while maintaining the spirit of the principle.

A powerful force for constant recalibration and realignment.

6/ More specifically, rewards between locked vs unlocked rewards will start as follows:

- EGLD / MEX farm-> 94.01% vs 5.99%
- EGLD / USDC farm -> 94.02% vs 5.98%
- MEX farm -> 89.74 vs 10.26%

7/ In line with the above, the distribution of rewards between farms is recalibrated to better align incentives for the 3 pools we currently have:

- 55% - EGLD / MEX farm
- 15% - EGLD / USDC farm
- 30% - MEX farm

8/ Most important element to understand is that LKMEX is the first class citizen of the Maiar DEX.

Everything within the MEX ecosystem will be tied to LKMEX.

Its utility will rely on:
- fees via swaps
- many new pools listed
- many new farms listed
- fees burned
- new features

9/ The entire first version of the model can be found here: maiar.exchange/mex-economics-…

This is just a first step refinement.

A second wave of refinements will follow, shifting the focus of the Maiar DEX from the short term, to the exciting years of growth to come.

10/ So, how does one choose to opt in?

Everyone deciding to, will be required to withdraw deposits made in the farm before this change goes live, and deposit again with locked rewards, to be eligible for new rewards.

The 1% penalty is waived until December 04 14:30 UTC.

11/ To sum up, at 19:45 UTC the Maiar DEX will undergo scheduled maintenance to accommodate new changes. During this time, all funds are safe. The smart contracts will be upgraded with the new rewards and the UI is changing accordingly.

New model will be live at 20:30 UTC.

12/ Now, coming to the next important point: RIDE listing on the Maiar DEX.

On Tuesday, 7 Dec, the first listing will go live on the Maiar DEX.

It will be the RIDE token from @holoride.

13/ Listing plan for Tuesday:

• 13:00 UTC: deposit EGLD/RIDE liquidity, stake LP tokens
• 16:00 UTC swaps & rewards go live

Important: a special LKMEX farm with RIDE rewards will be available, giving opportunity for getting RIDE tokens with adding powerful utility to LKMEX.

14/ The Maiar DEX has already come a long way.

To create something unique, and powerful, which exceeds all previous growth metrics, we will have to venture beyond chartered paths.

It will be quite hard and intense at times.

But will make all the difference in the end.

15/ The Maiar DEX will change everything.

And this will be another major step forward.

It’s still super early.

Be part of the journey.

Important tweet #10 correction:

10/ How does one choose to opt in?

*Everyone deciding to, will be required to exit the farm after the change is live, and deposit again, to be eligible for new rewards.*

Once the update is live, the 1% penalty is waived till 4th Dec 14:30 UTC.