1/ Today marks the evolution to $MEX 2.0 & #xExchange: one of ten xDapps that will POWER the #Multiverse.
MultiversX $EGLD is now on @coinbase! πΊπΈ
Newcomers: Let's dive into all the excitement & kick off #xExchange with a bang!π₯π @ElrondNetwork @MaiarExchange #MultiversX
π§΅
MultiversX $EGLD is now on @coinbase! πΊπΈ
Newcomers: Let's dive into all the excitement & kick off #xExchange with a bang!π₯π @ElrondNetwork @MaiarExchange #MultiversX
π§΅
2/ πFacts first:
β’ 1,269 days ago $egld (BEP-20) launched on @binance launchpad.
β’ 862 days $EGLD main network launched (Layer-1).
β’ Avg. 75k transactions per day among 2M erd addresses.
β’ #DeFi on $EGLD is 386 days old.
Last week @MaiarExchange generated $3.6M rewards. π
β’ 1,269 days ago $egld (BEP-20) launched on @binance launchpad.
β’ 862 days $EGLD main network launched (Layer-1).
β’ Avg. 75k transactions per day among 2M erd addresses.
β’ #DeFi on $EGLD is 386 days old.
Last week @MaiarExchange generated $3.6M rewards. π
3/ Elrond rebrands to #MultiversX*, now tradeable on @coinbase. πΊπΈ
$EGLD at a glance:
β’ Sharded Smart Contracts platform
β’ 15k TPS, testnet 263k TPS
β’ Adaptive State Sharding; Secure Proof of #Stake
β’ 6s block time, $0.002 tx cost w/ 3.2k nodes
β’ #NFTs, #DeFi, #Metaverse
$EGLD at a glance:
β’ Sharded Smart Contracts platform
β’ 15k TPS, testnet 263k TPS
β’ Adaptive State Sharding; Secure Proof of #Stake
β’ 6s block time, $0.002 tx cost w/ 3.2k nodes
β’ #NFTs, #DeFi, #Metaverse
*Last month @ElrondNetwork hosted "X Day" inaugural conference in Paris, France where @beniaminmincu announced Elrond is rebranding to MultiversX - meaning "Multiverse to the Power of X".
X = ten (10) new #web3 #dapps to POWER the Multiverse, coming 2023. π
X = ten (10) new #web3 #dapps to POWER the Multiverse, coming 2023. π
4/ @MaiarExchange has upgraded!β¨
Upgraded user experience (UX), user Interface (UI), new $MEX & $XMEX roles defined, renamed to xExchange. π₯
$MEX is the token powering xExchange:
Required for governance & FUEL for the perpetual decision-making process that maintains the DEX.
Upgraded user experience (UX), user Interface (UI), new $MEX & $XMEX roles defined, renamed to xExchange. π₯
$MEX is the token powering xExchange:
Required for governance & FUEL for the perpetual decision-making process that maintains the DEX.
5/ The full picture of $MEX has changed! A brand new game begins with $XMEX energy.π
* $XMEX are like battery particles. $XMEX can be charged (locked) to contribute to your battery's overall charge: from 0 to 100%. More energy = more benefits.β‘
Source: github.com/ElrondNetwork/β¦
* $XMEX are like battery particles. $XMEX can be charged (locked) to contribute to your battery's overall charge: from 0 to 100%. More energy = more benefits.β‘
Source: github.com/ElrondNetwork/β¦
*Just like your smartphone's battery holds energy that powers your phone, xExchange batteries also hold energy. $MEX token is FUEL that powers xExchange: Every swap on xExchange takes a fee in $EGLD and fees on xExchange are used to buy $MEX from the EGLD/MEX LP Pool.
6/ When $MEX becomes $XMEX, its value becomes multiplied as more energy is added. πβ‘
You choose to lock your $XMEX in 1, 2 or 4 year increments*; your battery holds more energy the longer it's locked. The more energy within your battery the more benefits you get.π
You choose to lock your $XMEX in 1, 2 or 4 year increments*; your battery holds more energy the longer it's locked. The more energy within your battery the more benefits you get.π
*xExchange Batteries can last up to 4 years, and fully discharged batteries can be exchanged for $MEX at a 1-to-1 $USD value.
You may forcibly "speed the discharge" of $XMEX particles, but the more energy they contain the more $XMEX will be spent processing the discharge. π§ͺβοΈ
You may forcibly "speed the discharge" of $XMEX particles, but the more energy they contain the more $XMEX will be spent processing the discharge. π§ͺβοΈ
7/ Staking Liquidity Provider (LP) tokens on xExchange you will be rewarded $XMEX with maximum benefits, 100% charge.
If you want to spend or send your LP farm rewards, first you must speed the discharge all the way to 0% so they can be processed into the $MEX token.
If you want to spend or send your LP farm rewards, first you must speed the discharge all the way to 0% so they can be processed into the $MEX token.
8/ #Metastaking LP token earns $XMEX + more of the token you provide liquidity for:
Ex: I am Metastaking @UTRUST LP. I earn $XMEX from farming rewards + $UTK from staking rewards.
Your Farming & Metastaking APRs may be BOOSTED based on your xExchange energy level. π
Ex: I am Metastaking @UTRUST LP. I earn $XMEX from farming rewards + $UTK from staking rewards.
Your Farming & Metastaking APRs may be BOOSTED based on your xExchange energy level. π
9/ While earning APR boosts, $XMEX battery also earns passive income via #Metabonding.
Projects building on #MultiversX will be able to establish a long term commitment with community members, by distributing ~10% of their token supply to battery owners*: elrond.com/blog/introduciβ¦
Projects building on #MultiversX will be able to establish a long term commitment with community members, by distributing ~10% of their token supply to battery owners*: elrond.com/blog/introduciβ¦
*Metabonding rewards are no longer shared with staking $EGLD: 100% of Metabonding rewards will now go to xExchange battery owners - based on energy. π
On average, a new project is added to Metabonding each month (8 total):
On average, a new project is added to Metabonding each month (8 total):
https://twitter.com/Metabonding/status/1598666930113626119?s=20&t=QfnnSBqmOqn8MBcP7VJwiQ
10/ Simply holding $XMEX you will earn more energy each day from emissions.
$MEX emissions have now dropped -65% since year 1: inflation for the next year will be 23%, decreasing each year until supply cap is met in year 10. (credit @CryptoFirefly)
$MEX emissions have now dropped -65% since year 1: inflation for the next year will be 23%, decreasing each year until supply cap is met in year 10. (credit @CryptoFirefly)
11/ $XMEX owners now placed within "DEX Leagues" based on amount of energy, each offering new benefits.
The tier of an account also determines the max number of xLaunchpad lottery tickets the account owner can buy for a listing. The tier is based on the energy of the account. β‘
The tier of an account also determines the max number of xLaunchpad lottery tickets the account owner can buy for a listing. The tier is based on the energy of the account. β‘
12/ Governance is LIVE on xExchange; the first vote has passed!β
xexchange.com/governance
The Governance Portal enables ideas to turn into proposals, as holders become governors of xExchange. The energy of an account (based on # of $XMEX) translates into the governance power.
The Governance Portal enables ideas to turn into proposals, as holders become governors of xExchange. The energy of an account (based on # of $XMEX) translates into the governance power.
13/ $XMEX holders will earn from each user interaction via Fees Pool, receiving all fees paid by users when interacting with xExchange:
β’ Swap fees
β’ $XMEX energy removal feesβ
These fees will be claimable as weekly rewards by $XMEX holders, based on their energy.
β’ Swap fees
β’ $XMEX energy removal feesβ
These fees will be claimable as weekly rewards by $XMEX holders, based on their energy.
14/ As inflation falls each year, $MEX burn rate will rise as xExchange becomes more popular. $XMEX becomes more valuable with each burn:
β’ 0.05% from each swap will use $EGLD fee to buy & burn $MEX (from EGLD-MEX LP pool)
β’ 50% of user's discharging fees burned immediatelyβ β
β’ 0.05% from each swap will use $EGLD fee to buy & burn $MEX (from EGLD-MEX LP pool)
β’ 50% of user's discharging fees burned immediatelyβ β
15/ $XMEX is a game changer by shifting from a paradigm prioritizing quantity to a paradigm prioritizing quality.
$XMEX and Energy are now placed at the center point of xExchange and will be used to dictate all reward metrics and boosts within xExchange. πβ‘
$XMEX and Energy are now placed at the center point of xExchange and will be used to dictate all reward metrics and boosts within xExchange. πβ‘
16/ β οΈ Risk Management:
Once energized, $XMEX cannot be sold or moved. $XMEX with more energy will cost more $XMEX to remove energy:
β’ -1 year: 50% fee
β’ -2 years: 70% fee
β’ Full unlock: 80% fee
β 50% of energy removal fees added to Fees Pool
β β 50% immediately burned
Once energized, $XMEX cannot be sold or moved. $XMEX with more energy will cost more $XMEX to remove energy:
β’ -1 year: 50% fee
β’ -2 years: 70% fee
β’ Full unlock: 80% fee
β 50% of energy removal fees added to Fees Pool
β β 50% immediately burned
17/ Just as your cell phone battery can be recharged at any time, so can your $XMEX battery. π
You don't have to wait for your battery to lose 100% energy to recharge, and doing so will ensure you continue receiving maximum benefits for your $XMEX holdings.
You don't have to wait for your battery to lose 100% energy to recharge, and doing so will ensure you continue receiving maximum benefits for your $XMEX holdings.
18/ Welcome to xExchange!π₯xexchange.com
Well done, congrats & thank you #MultiversX!π @lucianmincu @beniaminmincu @luciantodea
β Read more from the #EGLD blog: elrond.com/blog/maiardex-β¦
β Read the 24-page DEX-paper: github.com/ElrondNetwork/β¦
Well done, congrats & thank you #MultiversX!π @lucianmincu @beniaminmincu @luciantodea
β Read more from the #EGLD blog: elrond.com/blog/maiardex-β¦
β Read the 24-page DEX-paper: github.com/ElrondNetwork/β¦
19/ By May 2023, #MultiversX will complete its full transformation to Multiverse to the Power of X. If you are new to $EGLD & #MultiversX, buckle up. There's a lot going on and A LOT to look forward to.
2023 is year of MultiversX. π₯ Let's Build! βοΈ
2023 is year of MultiversX. π₯ Let's Build! βοΈ
https://twitter.com/beniaminmincu/status/1601172014663757824?s=20&t=Buu9do45Xc0wnBeyOO7tfA
20/ If you learned something from this article, please click the like button, tag some friends and please #retweet to share with your followers! π Quote tweet & tell everyone what you learned or you're most excited about. π
Thanks for reading & I hope this was super helpful!
Thanks for reading & I hope this was super helpful!
21/ βοΈ @egld_initiative is a way to earn $EGLD by discussing, teaching and raising awareness about #EGLD, #MultiversX and #DeFi.
Create a twitter thread, post it to reddit.com/r/eGold_Initiaβ¦, submit the contribution and you're in.
Help raise awareness & guide adoption! βοΈ
Create a twitter thread, post it to reddit.com/r/eGold_Initiaβ¦, submit the contribution and you're in.
Help raise awareness & guide adoption! βοΈ
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