The Elrond Network blockchain project announced the launch of the Maiar DEX decentralised exchange and a liquidity mining program worth $1.29 billion.
1/ TODAY IS THE DAY.
The Maiar DEX is going live 🌕
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.https://t.co/IYxYS0Y8ry
— Beniamin Mincu 🔥🌓 (@beniaminmincu) November 19, 2021
The EGLD token price rose from around $318 to near $477.
According to CoinGecko, over the past seven days the native Elrond token has risen more than 47%.
The Maiar DEX smart contracts passed formal verification and an audit by Runtime Verification. The platform underwent stress tests that confirmed its performance and scalability, according to the statement.
Under the liquidity mining program, in the first month of operation, governance tokens MEX worth $282 million will be distributed among users. They will receive the tokens as rewards for providing liquidity in EGLD, MEX and the USDC stablecoin.
In the next phase, Elrond announced the expansion of the program to products from DeFi projects such as Uniswap, PancakeSwap or SushiSwap.
“Distributing ownership of Maiar DEX among a billion users, we are laying the foundation for a truly global financial system accessible everywhere and to everyone,” said the founder and CEO of Elrond Network Beniamin Mincu.
Back in July 2021, the Elrond team launched the mainnet with a claimed throughput of 263,000 TPS.
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