We hope you’ve been practicing on the Maiar Exchange devnet like we have, because we’re about to compete against each other.
More details about the Battle of Yields competition haven been revealed by Ben Mincu on Twitter.
What we know about the competition
We now know there is a prize pool of 100,000 USD, and that the competition will run on the public testnet with test funds.
The competition begins on Tuesday 14 September 11:00 UTC and lasts until Tuesday 28 September 11:00 UTC.From Elrond blog
The Battle of Yields competition has different components, for this post we will focus on the final one on this list.
- Security – $50,000
- Contribution – $25,000
- Yield competition – $25,000
How will the yield competition work?
All users start with the same amount of tokens and have to swap, stake and farm their way to victory. The users at the end with the most balance wins.
Follow these steps to register for the yield competition:
- Sign in with your Maiar wallet at https://battleofyields.com
- Input the wallet address you want to use for the game (Elrond recommends a new one)
- Input your Telegram username
Make sure to follow these channels to stay updated.
The competition begins on Tuesday 14 September 11:00 UTC and lasts until Tuesday 28 September 11:00 UTC.
Submissions will be analyzed and rewards distributed by 08 October.
Go register NOW and if you haven’t started practicing on the devnet you still have time. Use my Maiar Exchange devnet how-to guide to get started.
The final stage before the big Maiar Exchange launch?
As Ben puts it: “It is now time to battle-test the Maiar Exchange“
This means we are very, very close to the launch of the Maiar Exchange, which should be an exciting event for Elrond investors. If they can repeat anything like the Maiar launch, we could see huge demand for the deflationary $EGLD token.
Consider the $EGLD/BTC pair – we’ve been trading inside this range since the launch of the Maiar wallet.
It looks a lot like a Wyckoff Re-Accumulation pattern with a Spring (more on this below). The volume is low and we are waiting for a big move – likely to the upside. A successful launch of the Maiar Exchane could be the catalyst for a breakout and price discovery.
Apologies for the bad pic, but to be fair it is ancient stuff…
This diagram depitcs the Wyckoff Accumulation trading range with the optional Spring, that happens after a parabolic rally up.
After taking profits, whales re-accumulate ahead of the Spring event, which marks the beginning of the next rally.
Overall, what an exciting time to be invested in Elrond. The team once again is delivering and from what we’ve seen, the Maiar Exchange could be a success.
If you don’t yet own Elrond tokens, I don’t think it is too late. Use my link to create your wallet and buy your first tokens. Both you and I will be rewarded when you use my link, so thank you in advance.