This article will explain metastaking, an essential concept behind Maiar Exchange. Stay tuned for more information on how Maiar Exchange metastaking works!
What is X Exchange?
Ex Maiar Exchange now X Exchangeis a decentralized exchange developed by the team behind the popular cryptocurrency Elrond(Egld). It is designed to be simple and easy to use, focusing on providing users with a great experience.
For detailed information on the Maiar exchange, please visit here.
What is Metastaking?
Metastaking is a new way of earning rewards for participating in the Elrond network. With it, users can earn rewards by simply holding their ESDT tokens in their wallets and staking them through metastaking.
As Beniamin Mincu, a founder and CEO of Elrond Network, states, “Metastaking is an innovation that is unique to the Maiar DEX and for the first time combines token staking, liquidity providing, and yield farming into a powerful new product.”
At the moment, there are five tokens supporting metastaking, and they are:
- RIDE: RIDE is a utility token developed by the holoride team. They aim to make the driving experience unique and fun through VR technology. You can earn 25% APR and 28% APY for staking ride tokens.
- ZPAY: ZPAY is a utility token created by the Zoidpay team. Zoidpay is a payment gateway that allows people to purchase from any merchant with different cryptos. You can earn 25% APR and 28% APY for staking ZPAY tokens.
- ITHEUM: ITHEUM is a utility token built on Elrond Network. It is a data platform for Web2 and metaverse. You can earn 30% APR and 34% APY for staking ITHUM tokens.
- BHAT: BHAT is a utility token built by the BH Network team. BHAT aims to build the future of freelancers through the help of blockchain technology. They also have their own fully legal and licensed crypto and NFT launchpad helping web2 projects migrate to web3.
- UTK: UTK is a utility token created by the Utrust team. Utrust is a system that allows businesses to accept cryptocurrencies. This system is better than traditional payment methods because it has many benefits.
What is the Difference Between Yield Farming and Metastaking?
With yield farming, users must provide liquidity to the pools to earn rewards. On the other hand, with metastaking, users need to stake tokens, and they will automatically earn rewards. Also, metastaking is less risky than farming, but both have pros and cons.
How to Participate in Metastaking?
It is effortless to participate in metastaking. You need to follow these few steps.
- Login to Maiar exchange by connecting your wallet.
- You can choose the Maiar app, DeFi wallet, Ledger, or Elrond Web wallet to connect.
- Once you connect your wallet, you can stake your desired tokens.
- You can claim your rewards once it reaches a minimum of $15.
X Exchange is an excellent exchange with a lot of potential. The team behind it is very experienced, and they are constantly innovating. Metastaking is a great way to earn rewards, and it is straightforward.
Note: Many fake websites and social media accounts claim to be Maiar. Please be vigilant and only visit the official website or social media accounts. Always ensure you are visiting the correct website before giving access to your wallet. Have fun Metastaking!