In X spaces and threadcast we discussed maya protocol and web3 which was really a good experience. A lot of good minds hanged together and distributed their knowledge to inleo users which was a cool experience. Today's Spaces and threadcast was very informative. We learnt a lot of new thing about web3 and Maya protocol. So i have decided to write about Maya protocol and its native token.
Maya Protocol is a decentralized liquidity protocol which allows direct transfer of crypto assets across different blockchains without the need of intermediaries. It is very fast and cheap platform which makes swap much easy.
Maya protocol mainnet went live on 7th march 2023 . It has a good team of developers which are committed towards its success.
Maya Protocol has its own token which is used to reward node operators. It was distributed using fair launch model. It is called as $CACAO . It has a supply of 100 million . According to stats from coingecko $CACAO,s growth has been impressive since its launch. In the last 7 months it grew at a good pace. Its lowest price was $0.0008917 on june 15 and a highest price was $1.06 about one month ago while currently it is trading at $0.61.
Well, it has another token named as $MAYA which takes 10% swap fees. Its value depends on different factors. Maya token was distributed to team members , advisors and to the community for supporting the project in early days.
Maya Protocol is a decentralized liquidity system using Cosmos SDK which allow easy swaps between different blockchains. It's a friendly version of THORChain which keeps things more compatible while adding new features and innovation and reliability.
It is a backup as well as alternative system for the Thorchain $RUNE. There are a number of reasons for building this back up.
It is interesting to know that Maya protocol choosed its token name as $CACAO because it is the main ingredient used to make chocolate.
Maya protocol team thinks that ThorChain cannot handle all things alone so they had developed Maya protocol as a backup and alternative to it.
Thorchain was only one swap exchange available in the past so maya protocol team decided to get in with another option for users to make cross-chain swaps more easy.
As more people use crypto, centralized exchanges limit our full potential so maya protocol allows to escape these limitations, giving us control over our assets and the freedom to trade without restrictions.
I have bought a little bag of $CACAO for longterm. This has a lot of potential that is why i took the decision.
Maya protocol has still a lot of room to grow. I feel that this is going to be big in the future just like $RUNE . I know that it is a lot behind but it can do if it continue the mission.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.
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