How Maiar Exchange Leverages Elrond
Maiar exchange is yet another innovative DeFi platform that offers many financial products.
This automated market maker (AMM) decentralised exchange (DEX) has a scalable infrastructure. The minimal fees and lower slippage with secure architecture make it a complete app. Along with its easy-to-use app for trading, it offers many liquidity incentives.
In recent times, it has become a leading digital exchange and wallet. But, the reason this platform has gained global accessibility is the expandable Elrond blockchain. In this article, let’s explore how the Maiar exchange leverages Elrond.
An overview of Maiar exchange
The DEX is a recently evolved digital asset wallet and swapping app. It allows instant transfers with low-security risks as it is built on an expandable and secure network. Besides, the app allows you to manage all your assets from your smartphone. And its interactive and easy-to-navigate user interface makes trading hassle-free.
It works with an open-governance system, for which it introduces its native token, MEX. The holders of this token have voting rights for decisions related to its governance. Apart from that, users can also generate higher yields through its incentive programs. It also provides LP tokens that you can use as collateral or for trades.
Understanding Elrond blockchain
Elrond is an exceptionally scalable public ledger that works on the Secure Proof of Stake (SPoS) consensus mechanism. The mechanism gives it enhanced security as compared to most blockchains using PoS. It improves the process of distribution and ensures long-term security.
The blockchain relies on a state-sharding approach. It means Elrond splits the state account and the ledger into multiple shards. This allows it to validate both at the same time. In turn, it speeds up the validation procedure through which transactions take minimal time.
How is the Maiar exchange scaling up with Elrond?
Maiar and the app are both developed on the Elrond network. It is the network that solves the blockchain trilemma through its secure PoS. Besides, its state-sharding method assists in making transaction procedures faster. It also allows a fair distribution of tokens. On top of that, the network also brings in higher efficiency, enhanced storage, and interoperability.
These features allow the exchange to brand itself as a secure and long-term option for keeping crypto assets. Moreover, the platform enables low-cost transactions and the possibility of earning better yields. Besides, the network assists the swapping app in gaining global accessibility.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.