Popular blockchain project Elrond has announced a massive liquidity incentive program for its Maiar DEX DeFi platform valued at over $ 1 billion, valued in MEX-native tokens.
$ 1.29 billion liquidity incentive program
The new liquidity incentive program is intended to provide impetus for the introduction of the decentralized Maiar stock exchange. The project will use the utility and governance token – MEX – to transfer funds, of which $ 282 million will be distributed in the first month to DEX users who provide liquidity in EGLD, MEX and USDC.
The program begins with the official launch of DEX today, November 19th. The statement shows that Elrond has distributed ownership in the form of MEX tokens across over 60,000 accounts.
“By distributing ownership of Maiar DEX to the next billion users, we are striving for a truly global financial system that is accessible to everyone, everywhere,” commented Benjamin Mincu, CEO of Elrond Network.
After the first month of distribution, the project will carry out further programs “aimed at users of the largest DeFi platform in the ecosystem, who can also use MEX according to their activity in connection with products such as Uniswap, PancakeSwap or SushiSwap. ”
Elrond’s native token, EGLD, is currently in the green after slipping along with the broader market led by Bitcoin losing support at $ 58,400. At press time, EGLD is trading at $ 318, up nearly 1% in 24 hours. It is currently more than 5% below that on 11/10. measured ATH level.
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According to Cryptopotato