Maya Protocol Liquidity Auction
I've been a long-time supporter of Thorchain thanks to discovering some alpha here on LeoFinance some time ago. A few months ago, an anonymous team of devs set out to build a fork of Thorchain and take its power level way over 9000. I'm no developer, so I'm not going to spend much time explaining much about Maya, because I'm sure there's someone out there doing that already.
I highly recommend you take a peak at the official Maya Protocol website for all the information you need. Essentially, they are taking Thorchain, which is already incredibly powerful, and adding some crazy new features that will take cross-chain swapping of native crypto assets to a whole new level. The way they are building liquidity for the protocol initially is very interesting, and I think it's a much better system than an ICO or something like that.
Enter Liquidity Auction. Of course, RUNE holders are going to be getting an airdrop of $MAYA tokens just for holding RUNE. It's a 21-day daily snapshot, and all you have to do is make sure you link your RUNE wallet with MAYA wallet via THORWallet's web or mobile app. This is done automatically if you choose to generate a Keystore wallet, which I highly recommend. This will generate a wallet Keystore file for you, stored locally on your device that can be decrypted with a regular old password.
The Liquidity Auction allows users to deposit assets, and in return receive a Liquidity Position of that asset, paired with $CACAO. There's 3 Tiers, 30 - 90 - 200 day lock periods, all with varying APR so choose wisely. You'll only be able to join 1 tier per asset.
So now that you're ready to go full degen... Let's dive into joining the Liquidity Auction. This can be done via mobile or desktop. I personally used the mobile website on my android phone, which worked fine. I did not use the mobile app as it doesn't let you import a Keystore file that already exists and I had already created one.
How to participate
Step 1 - Visit THORWallet and click "Set up wallet". This is where you'll select the Create Keystore option. The interface will have you create a password, and download the Keystore file to your device. Pro tip - MOVE THIS FILE TO AN OFFLINE DEVICE LIKE A USB DRIVE after you're done.
Step 2 - Now that you have your Keystore wallet, click the Keystore option under wallets. Select the Keystore file from your device, and enter the Decryption password you just created. Click Unlock.
Step 3 - Now you have created a fresh wallet, you need to add some funds. You'll be automatically taken to your Wallet interface, where you can select assets to deposit. I chose BTC because currently the LA only supports BTC, ETH, USDT, & USDC. Soon to support RUNE. So click your asset of choice, click Receive, and transfer that asset to your new Keystore wallet.
Step 4 - Click on the "Access Maya's Liquidity Auction" banner or visit the page directly by clicking here.
Step 5 - Select a Pool based on whatever asset you want to deposit. For me, it was BTC.
Step 6 - Select a Tier, then enter the amount you wish to deposit and click Preview.
Step 7 - Adjust the Gas fee if you wish, and click "Add Liquidity Now".
Step 8 - Confirm the transaction and wait for it to process.
Congratulations!
Now you can visit the Pools page and see your Maya Liquidity Auction balance.
Now all that's left to do is wait. Depending on the tier you chose, you'll be able to withdraw a tiny amount daily or you can just set it and forget it. This is my strategy. Full degen - set it for the 200 day tier and check back later.
The ability to deposit RUNE will be nuts. I think this is when we're going to see some serious degen shit going down. The Thorchain chads are pretty fuckin hardcore. The Maya community is already huge and super active. With all that being said, not financial advice. I don't know if this project will succeed or die tomorrow.
I'm just a degenerate crypto nerd that wants to be able to trade any crypto asset with any other crypto asset without permission from a central party. THORChain and Maya make this possible.
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