Elrond is having its second “moment” this year.
After a successful testing phase, the Maiar Exchange is ready for the world to see. In a few days time the trading pools and farms will accessible to anyone with a Maiar wallet. And top it off, EGLD is looking bullish. Read this post to learn more about the launch and how you can profit from this.
When does the Maiar Exchange go live? We have the dates.
Maiar Exchange will launch in stages over the next few days:
| November 7 | Claim MEX |
| November 16 | Add liquidity |
| November 19 | Farm MEX |
How to claim MEX now
I’ve been covering MEX for a while, showed you how to participate in the airdrop and how to check your balance. Now I will show you how to claim your airdrop, which can be calculated at ~$0.0002/MEX.
If you had your EGLD in a wallet or staked during the snapshot times, you will be eligible to claim a MEX airdrop.
To claim, head to the Maiar Exchange. Sign in with your wallet and click the Claim Mex button in the top right corner.
At current MEX prices, I am very happy with the amount I received from my staked position. The amount received was recently multiplied by 1000x when the tokenomics were overhauled.
Understanding the new MEX tokenomics
Simply put instead of claiming one MEX you will now claim 1000.
Elrond have also released a new economics paper, which can be found here. Not too much has been said around the reason, aside from it being an attempt to make it more inclusive.
From the document we also know that the token emission will be quite aggressive during the first weeks of the launch. I’m expecting this period to go down similar to the duration of the Battle of Yields, which included multiple events where APRs would be increased by increasing the size of the blocks mined.
wUSDC replaces BUSD as stable coin
In a recent development the stable coin at launch seems to have changed from BUSD to USDC.
A great move as USDC has a great reputation amongst the stables and is also compatible with other ecosystems via a bridge which is to launch imminently.
Farming strategies
In my article before the Battle of Yields, I wrote about how to use the exchange and outlined some strategies to maximise yield. This time we are not competing for rank, but rather for our own money.
With high APR in the first few weeks, we can maximise results by choosing the right farming strategy. More importantly though, is execution and compounding of the position to unlock maximum APY.
Risky: EGLD-MEX
In Battle of Yields, the winners were mainly in this pool and it was successful because the external price of EGLD was rising. Additionally, no impermanent loss occurred since the price of MEX remained very static during the Battle of Yields.
We don’t know what the MEX token will do but chances are it will be violent as initial listings usually are. The price will be determined by trading that occurs on that pair.
Safer: EGLD-USDC
The safer choice. Less risk but also less rewards. The APRs will be less compared to the EGLD/MEX pool
Safest: MEX pool
All you do is stake all of your MEX in this pool, earn and watch compounding magic happen if you manage this position.
It is not too late!
If you are reading this, you are super early. My goal for this website is not to give financial advice, but rather to spread the knowledge. Right now, Elrond is making breakthroughs in being able to compete with the likes of Solana and Ethereum and we are lucky to witness it.
As it stands only around 300k users max are currently eligible and able to log into the Maiar Exchange, providing liquidity and farming MEX. Though the number is fast increasing as can be seen below.
Essentially the MEX emissions will be shared between these users, which means: more for us.
How to participate in the gold rush
Use my link to sign up for an additional $10 worth of EGLD and to help support this blog.
Hey! Managing your crypto would be so much easier if you had Maiar. Get a $10 cashback reward in Maiar when you buy eGold with my referral link 🤑:
https://get.maiar.com/referral/d8k2zsdn1r
Wait for November 16th, add liquidity and check back often for critical updates.