The Maiar DEX solution is now ready, and in review.π οΈ
It's been a few hardcore days, but it's going to get a lot better.
Here's a short update on the current status, and important improvements for the next steps.
2/ First, the bug fix solution is ready, and there are 3 threads for validation and heavy testing:
1 - internal peer review for the solution
2 - external peer review for the solution
3 - empirical validation via 1 day Battle of Yields competition
3/ Calling all Farmers: Battle of Yields begins today at 18:00 UTC π¨βπΎπ
All participating addresses that interact with the testnet exchange according to the instructions will share MEX rewards from a $15,000 USD prize pool.
4/ We are pushing hard to get the Maiar DEX live as soon as testing is done.
Given the current plan, pending testing and validation, the Maiar DEX will likely resume processing in the next 2 days.
5/ With the new release, a new MEX economics reward boost will follow for the next 2 days.
Once full functionality is restored, a new wave of DEX adoption and growth will begin.
6/ In the interest of keeping user security and safety as highest priorities, all new Maiar DEX updates and launches will be recalibrated based on this new timeline.
Thus a new update will follow by the end of the week, with a revised timeline for the @holoride RIDE listing.
7/ The Maiar DEX and DeFi farming will ultimately bring a very significant wave of new opportunities for the Elrond community.
For most, this new wave is already here.
But with every new wave of opportunities and growth, a new set of challenges arises as well.
8/ While this subtle bug is heavily stress-testing us, we're here, pushing forward.
And the Maiar DEX will come 10x stronger out of it.
This is how we level up. There is no way around the challenge.
Only way to grow is by facing it, and coming alive and on top afterwards.
β’ β’ β’
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Itβs been a few super long and intense days, but we're now close to solving the issue. π οΈ
Where are we, what's happening?
2/ First things first.
All funds are safe.
We've just discovered a tricky bug on the virtual liquidity calculations, creating a mismatch between actual liquidity in the farming pools and calculated liquidity, and hence an mistach of respective APRs.
3/ Most important fact to underscore is that in the grand scheme of things, the only way to ensure you're alive, and can continue to push for improving things, is having the utmost emphasis and respect for security.
A state of the art DEX built on a sharded architecture, w/ 100% community ownership.
Unveiling Elrond Superwave, a $1.29 Billion USD liquidity mining incentive program for 1y, w/ $282M for first month. elrond.com/blog/elrond-suβ¦
2/ The Maiar DEX opens an opportunity unlike any other.
It will be the prime liquidity gateway for the entire Elrond ecosystem.
Owning a piece of it, is like owning a piece of the very foundation of the new web.
3/ The Maiar DEX brings the largest DeFi incentive program to date, pushing DeFi adoption beyond current boundaries.
$1.29 billion dollars worth of MEX tokens - of which $282M in the first month - will be shared w/ users who provide liquidity in $EGLD, MEX, LKMEX & wrapped USDC.
1/ Today is a grand day for Elrond, and the Maiar DEX. π
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.
2/ To have the full DEX launch we need:
1. Maiar DEX to be ready 2. USDC bridge to be enabled 3. USDC/EGLD pair opened + swaps to be enabled 4. Grand official launch, w/ EGLD/MEX swaps + MEX rewards turned on
3/ So where are we?
Everything related to the Maiar DEX is fully ready.
1/ Everything mankind has achieved was through building.
Cities. Roads. Hospitals. Engines. Power plants. Industries. Institutions. The internet.
Financial systems enabling them to operate and grow.
2/ Everything mankind is yet to achieve will be through building.
New energy. Biotech. Starships. AI. A better world.
Connected by a h/ bandwidth, l/ latency, transparent financial system, accessible to anyone, enabling exchange of value globally, instantly, inexpensively.
3/ With all essential components in place, itβs time for the @ElrondNetwork ecosystem to scale. Bigger, cheaper, faster.
Itβs time for builders to pick up the tools and shape the future of finance, governance, industry, gaming, art, commerce.