Home Altcoins News $200+ Million USD Committed to Metabonding and Metastaking in Elrond Network

$200+ Million USD Committed to Metabonding and Metastaking in Elrond Network

$200+ Million USD Committed to Metabonding and Metastaking in Elrond

Sebastian Marian Expressed:  $200+ Million USD were already committed to Metabonding & Metastaking in the week. A massive influx of capital that shows the significance of the Superwave, and the broader DeFi 2.0 ecosystem that is being built on Elrond Network.

Two new major components of the Elrond DeFi ecosystem are now fully live, following intensive auditing and public testing. 0.5+ Trillion MEX tokens were seamlessly deposited in Metabonding in a short-time period, which is a great Maiar DEX performance achievement.

A multi-chain token wrapped has been integrated into the Elrond bridge, offering it the capability to convert tokens issued on multiple different blockchain networks into the same token on Elrond.

Exploring a new price discovery mechanism that offering the market a smart-contract based mechanism for price discovery, before the initial listing, that can’t be influenced by bots or the high volatility following normal listings.

For clarity, Metabonding is the front page to Elrond. It is a novel DeFi concept.  This is about a new bond being created between projects which are built on Elrond.  The bond between the projects and the long-term Elrond holders facilitates rewarding with ESDT tokens for the overall contribution to the network.

Metastaking will allow for the community tokens to be staked and compounded after being framed.  Thus, providing for a triple incentive to liquidity providers. Thus, making accumulation of three rewards at the same time. This move is considered to be powerful and possible only with the brilliance of the Elrond blockchain architecture.

To maximize utility, the token issuance has been made as follows:  10% of the community projects total supply distributed; 5% distributed to LKMEX stakers; 5% distributed to $EGLD stakers; Users who stake LKMEX & EGLD will benefit most.

Only active users are eligible for these tokens.  There is a claim button for EGLD tokens on the Maiar Exchange and none of these tokens will be airdropped.

Metastaking and Metastaking is expected to make Elrond community the most satisfied in the crypto space.

Price discovery is the process of finding out the price of a given asset or commodity. It depends on a variety of tangible and intangible factors, from market structure to liquidity to information flow.

Noteworthy, DeFi is hailed to be the scalable financial engine of the new internet economy.

For those who are new, Elrond’s cryptocurrency, EGLD, plays a key role in maintaining its network and can be used for sending, rewarding network contributors, and running smart contracts. By owning and staking EGLD, users are able to gain the ability to vote on the network upgrades and are rewarded with newly minted EGL, proportional to the amount staked.

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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