Metabonding – The unique approach of Maiar DEX that sets it apart from other DEX(s). Let’s discuss in detail what metabonding is and how it works. Let’s get started.
What is X Exchange?
Elrond’s latest trend is metabonding. From the beginning, Elrond has focused on building a great product and benefiting the community in various ways. One of the ways is Metabonding. It is designed to give rewards(5% + 5%) to EGLD and LKMEX stakers.
As Beniamin Mincu states, “Metabonding is the best opportunity to get ready for the next game-changing projects building with internet-scale blockchain technology.”
How can Projects Participate in Metabonding?
If you are part of the project built on Elrond Network, you can apply to participate in Metabonding. However, you need to give 10% of your token supply to X Exchange metabonding for free. The tokens will be distributed to the EGLD and LKMEX stakers. The timeframe for the token distribution is 2 yrs. You can calculate the rewards here. It might not be 100% accurate, but it gives you an idea.
What are the Benefits of Participating in Metabonding?
Getting back to the Metabonding participation, you might wonder what’s the benefit of providing 10% of the token supply to participate in it. Indeed it is a huge number. To answer this question, I am borrowing some points from Marius Grigoras, Co-Founder & CEO of BlackHatNetwork. He has to say this when the community asked about the reason behind joining the Metabonding program.
- Not every project is accepted in this program. So if you get accepted in metabonding, this gives massive trust for the project in the Elrond community. Every project that wants to join the program has to pass the audit from Elrond itself and gain vote confidence.
- As the Elrond community starts receiving the reward in the specific tokens, they will get to know the project. If they like it, they will be interested in investing in that project. Metabonding is a great way to market your product to a massive Elrond community.
- Every project accepted for Maiar Metabonding will be whitelisted for the Maiar app. That means the project will get access to 1 million Maiar active users.
You can read his Twitter thread on why they chose to participate in X Exchange metabonding program for a more detailed explanation.
How many Projects are Live on Metabonding in X Exchange?
When can Users Claim the Rewards from Metabonding?
You can claim rewards weekly with a claim date of up to 4 weeks. Snapshots will, however, be taken daily at a random time.
In this article, we discussed Metabonding- what it is and how it works. We also looked at the benefits of participating in the X Exchange Metabonding program. I hope you liked the article. Thanks for reading!