Maiar is a decentralized protocol and exchange built on the Elrond blockchain. This exchange allows users to trade, exchange, farm and provide liquidity for digital assets and digital currencies. Maiar supports nine assets, including its native token (MEX), and also includes an analysis section for additional information including price charts, volume charts, and more. Find out if this exchange is worth using by reading our full Maiar review.
Maiar is a Romanian-based decentralized protocol built on the Elrond blockchain that allows users to trade, farm and provide liquidity for specific digital assets. Maiar is a non-custodial platform and requires a web-backed digital wallet such as the Maiar DeFi wallet to use its services. For those who need it, a bridge is built into the Maiar platform to transfer ERC-20 USDC to the Elrond equivalent. Maiar also has its own native token (MEX), which is heavily incentivized for betting, used to issue rewards, and used to govern the platform.
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Maiar’s exchange/trading is similar to most other DeFi platforms, with an aesthetic strongly reminiscent of Uniswap. As with most DeFi exchanges, no charts are accessible in the exchange section, but the order panel is very user-friendly. In the order panel, you can see slippage, cost, and price impact, but unfortunately, there are no options to customize any of these. Another drawback of Maiar exchange is that it only supports 9 assets: EGLD, MEX, USDC, RIDE, CRU, ZPAY, ISET AERO, and EFFORT, and all these assets can only be traded with EGLD. This is a major difference from almost all other DeFi protocols that support seemingly countless assets and pairs.
Users on Maiar can provide liquidity to eight different pools—one for each asset other than EGLD (since each asset pool is paired with EGLD). Although you are quite limited, many of the fee bonuses go into the double digits given that every pool requires an EGLD.
That being said, about half of the commission bonuses are less than 2%, which is a bit poor compared to most other integration platforms, be it 1inch, Uniswap, SushiSwap, Curve Finance or the like. However, if you are an EGLD holder, liquidity pools will be a good resource for you.
Farms on Maiar generate returns for liquidity providers who hold LP tokens and incentivize long-term liquidity by giving providers an additional revenue stream. Farm rewards are usually offered in MEX tokens, but there can be certain farms with dual token rewards. An interesting feature that Maiar offers in its farm is the option to lock in your rewards for a year for 2x APR to further incentivize long-term liquidity. Currently, there are one equity farm and three LP farms with APRs ranging from 18% to 44%, or 109% to 121% if you want to lock in your tokens. Maiar Farming is very underdeveloped compared to most other farming platforms like PancakeSwap or SushiSwap. And their regular APRs are pretty average, but their locked APRs are quite enticing and give many other platforms a run for their money.
Maiar’s analysis section provides additional information about the exchange and its token pairs, such as price charts, volume charts, and other useful information for traders. The charts are line charts and only have daily and weekly time frames, but the whole section is nicely laid out and has useful buttons that take you directly to the trading or liquidity section.
The information provided is very basic compared to a platform like Curve Finance and its statistical sections, and it would be nice to see more data or lower time frame information, but it’s exceptionally designed and still a great resource for anyone looking to monitor. It is based on volume. , liquidity and price.
Maiar charges a fixed fee of 0.3% for exchanging tokens, and a portion of this fee (0.25%) is shared by liquidity providers in proportion to their share of liquidity reserves. As for the remaining 0.05%, the smart contract execution fees buy MEX from the EGLD/MEX pool and burn it. This fee structure is fairly standard and almost identical to that of SushiSwap, which charges 0.30%, rewards 0.25% to liquidity providers, and allocates the remaining 0.5% to SUSHI holders. It is also quite similar to Uniswap, although Uniswap gives its entire 0.3% fee to liquidity providers.
Another cost to consider is the bridging capabilities mentioned in the overview. Although you can connect USDC from Ethereum to Elrond, it will cost you 50 USDC per swap and requires a minimum transfer of 2500 USDC.
If you scroll down to the bottom of the main page you’ll see a “Community Support” section, but if you click on it, it says “coming soon”, so Maiar hasn’t fully released everything yet. That said, they have a great FAQ page and may be a help center in the same section.
They have an overview of the platform, services, technology, architecture, and even its guides, all full of images and beautifully organized descriptions/explanations that go into considerable detail about anything related to the protocol. They really did an amazing job with the whole section, and it’s worth it if you’re going to use this platform seriously.
Maiar Exchange as a next generation investment platform
Maiar Exchange was built by Elrond to provide a powerful DeFi investment tool based on the highly efficient and technologically superior Elrond blockchain. The platform targets traders and token holders alike and benefits from the technology
- Unprecedented speed
- Maximum security
- Seamless user experience
Maiar Exchange is fast
Exchanges in traditional finance often have to deal with thousands of transactions per second. In extreme cases, users experience service disruptions due to heavy online traffic. Maiar Exchange is built on the Elrond network, which offers an unprecedented speed of up to 25,000 transactions per second (Testnet). thus enabling users to trade without interruption or delay.
Maiar Exchange is very secure
Asset security is a key parameter of an exchange. Traditional web-based platforms are vulnerable to technical attacks because customer information and data are often centralized in data centers.
With the blockchain-based Maiar Exchange, users’ assets are well protected by advanced encryption algorithms and other new security mechanisms. At its core, the platform derives its security from a decentralized network of 3,200 nodes distributed around the world. This makes manipulation very difficult.
Maiar Exchange offers a great user experience
A professionally designed user interface (UI) is the foundation of successful web-based applications. The ability to easily interact with the platform, seamlessly navigate and quickly understand the feature set is critical to achieving high user adoption.
Maiar Exchange takes advantage of the high design standards of the Elrond team and the excellent user experience we already know from the Maiar wallet. Of course Maiar wallet and Maiar Exchange will interact seamlessly.
Who is Maiar Exchange for?
Maiar Exchange lowers the barriers to entry for DeFi trading platforms by significantly reducing user complexity. So this platform is very suitable for cryptocurrency investors and traders, even if they are still at the entry level. The functional scope of the platform opens up without extensive technical or financial knowledge
Maiar is a smooth and well-designed platform, but it is significantly limited in terms of assets that users can trade, pool or farm. With these considerations in mind, the Maiar platform is best served to those who are familiar with or interested in the Elrond blockchain. Anyone not interested in Elrond or EGLD will not use the protocol much and certainly won’t find most (or really any) crypto assets popular with traders. However, if you’re a big Elrond fan, there probably isn’t a better platform for you. The interface is as beautiful and intuitive as it is, and their fees are on par with other popular DeFi protocols. And while they have a limited number of pools and farms, you’d be hard-pressed to find any competition around EGLD’s dedicated pools and farms.
With all of this in mind, Maiar is clearly a niche protocol that comes specifically for the Elrond blockchain and is therefore terrible for those not involved in the ecosystem and great for those who are. If the platform had more supported assets, I’d easily put it in the same camp as some of the more popular protocols like Uniswap, but it’s too established to recommend it to people who aren’t members of the Elrond or EGLD community. did Nevertheless, this is truly an amazing platform that every EGLD holder should join.