The Maiar app is the interface to the Elrond ecosystem. Using meta-transactions the app creates your wallet using your phone number (encrypted within the app) and allows you to set a #herotag. Data is inaccessible on chain and stored locally for security.
Growth-Decentralization is hard to measure. It plays into security and network participation. Anyone can delegate to participate in securing the network or run a node, earning transaction fees for doing so. 73,000 users stake 110,000 $EGLD across 3200 nodes.
Adaptive State Sharding- Scalability is ensured with 4 294 967 294 maximum shards all able to process ~5000tps. Adaptive State Sharding combines all three sharding techniques to ensure none of their limitations arise. The number of shards adapts as demand increases.
Secure Proof of Stake uses randomness to assign a block proposer and consensus group, resetting each block. The chances of nodes being in the same consensus group are lower than winning the lottery. They also do not have time to coordinate maliciously. If any malicious intent is detected, nodes are then jailed. Observer nodes keep a history of the blockchain, keeping validator node storage requirements low. Fisherman nodes (nodes not in consensus round) challenge blocks to ensure no malicious actions are taken.
Interoperability allows communication between chains for secure cross-chain transactions without the need of exchanges. Smart contracts can be built in any popular programming language including Solidity, Rust, C+ and Haskell, with built in 30% royalty fees to onboard devs.
Processes that normally use high gas can easily be handled inexpensively. Entire financial processes can be automated, technologies reimagined and creations unhindered. The applications for data security and decentralized AI can not be understated. Automation without concern.
ESDT tokens and their data can be stored directly on your wallet. This gives true legal ownership of digital assets. NFTs and SFTs cost $0.01 to send and can have built in royalties. Soon creating an ESDT will be possible through easy to use interfaces.
The herotag is an important feature. Anyone is able to send you any Elrond asset via a username, no complexity with long codes and no accidental transactions to wrong addresses. You are also able to import phone contacts, set a profile picture and soon customize a profile.
Dapps can be integrated directly into Maiar for a consumer ready seamless crypto experience. The wallet connect process also allows you to log into dapps on any device in a biometrically secure way, and disconnect in one touch. A full ecosystem can exist within one UI – Maiar
DeFi Lending, borrowing, trading assets, investing and baking will all be possible through Maiar with many other possibilities to earn while creating a net sum in economic growth. With 350,000 users today, as features are launched - word will spread fast.
The Maiar exchange is around the corner. All $EGLD held off exchanges are currently earning $MEX - a DEX exchange token for the Elrond ecosystem. These tokens are not able to be sold initially, instead can only be used to provide liquidity and stake.
This has created a massive outflow of $EGLD off exchanges and incentive to stake (rewarding 50% more $MEX). 63% of the supply locked in staking with only 2,400,000 EGLD remaining on exchanges, a current value of $240,000,000, scarcity is guaranteed.
Participation in the exchange is rewarded with more $MEX tokens. Because the initial tokens are unable to be sold scarcity will encourage a high price; ensuring high initial liquidity to bootstrap the ecosystem. After 1 month 10% can be sold. After 1 year 15% a month.
There is no limit to assets that are able to be exchanged. Synthetic cryptocurrencies, stocks, commodities and NFTs aren't off limit. MEX will list high demand assets via its focus on synthetics. Soon all forms of trading will be done on blockchains without third parties.
DeFi allows high rates of interest to be accrued on stablecoins. With the ability to pay gas fees in any asset a user will directly 'buy' BUSD via @RampNetwork with 0% fees, deposit into a high interest protocol and earn with negligible gas fees.
The user can withdraw any time to spend, and deposit again on their next pay. It wouldn’t be a complete banking experience without a Maiar card, announced to be in process of approval, hopeful for 2-5 months. Buy anything with any asset held on Maiar - details to be released.
Elrond's ecosystem is set to rival others. 20+ partners are building products focusing direct on Elrond technology and excited to release their tokens as ESDT ASAP, with many more set to follow. This will cause a cascade to follow, easily able to integrate from other chains
The unique and simplified tech is compelling to build on and banks are already confirmed to be building on Elrond. Start ups will emerge through Maiar Launchpad that will assist in revolutionizing finance, and holding $EGLD will also earn you $MPAD to fund these start ups.
With the MEX release upcoming to bootstrap liquidity, $MEX and $MPAD earning, an ecosystem waiting to burst, the best UX in crypto, limitless scaling, security, interoperability and benefits over traditional banking, there's a clear opportunity to HODL $EGLD