A Transformation Story: The Evolution of Elrond to MultiversX

Since its inception in 2017, Elrond has undergone a remarkable transformation, redefining its identity and mission. As of 2022, the project has rebranded itself as MultiversX with a renewed focus on delivering a highly scalable, secure, and decentralized blockchain network dedicated to enabling new applications, with a particular emphasis on the metaverse.

Pioneering the Provision of Third-Party Oracle Services in the MultiversX Ecosystem

Umbrella Network is thrilled to be the first third-party oracle provider in the MultiversX ecosystem. Its role in enabling dApps to effortlessly access real-world data on-chain and bridge the gap between the blockchain and external information sources is crucial.

The Umbrella Network’s mission is to provide a complete range of data solutions that address the diverse and ever-changing data requirements of the Multiversx ecosystem. This includes financial data, weather information, market feeds, and other essential data sources necessary for the success of all developmental projects.

“Partnering with Multiversx marks a significant milestone in our journey. We are excited to become the first oracle provider in the Multiversx ecosystem, enhancing and empowering smart contracts that need real-world data on the chain. We look forward to working closely with MultiversX to help grow their ecosystem and ensuring that dApps have access to the data they need to thrive”, —Philippe, Partnerships Manager at Umbrella.

About Umbrella Network

Umbrella Network is a decentralized Oracle service that provides blockchain projects with secure, scalable, and customizable data solutions. The network offers smart contracts a broad suite of solutions, whether it is high-frequency pricing updates, aggregating large volumes of data at scale, or providing tailored price feeds for specific needs. Secured by a network of decentralized community validators, Umbrella can provide any data that you need when you need it.

Website | X 

RESOURCES

Umbrella Network

REQUEST AN ARTICLE

The post Umbrella and MultiversX Partnership appeared first on Smart Liquidity Research.

Perhaps the most important aspect here is the fundamental underlying infrastructure, being deployed on a true state-sharded architecture and operating through the fastest Virtual Machine in space.

Henceforth gaining all the defining properties of an internet economy. Fast, secure, scalable, decentralized, and of utmost necessity for a core building block.

That alone was a significant milestone for the entire industry and a true fire of creation for other essential DeFi primitives layered on top of the newly created market opportunities. And ultimately setting the foundation for what’s to come.

Maiar DEX evolves into xExchange

Art and science at the same time, creating new DEX economic models around their respective native tokens presently opens a significant challenge.

There is a clear misalignment between the growth trajectory of all these decentralized exchanges and the value capture mechanisms of their native tokens.

This may be the most significant open problem plaguing the entire DeFi ecosystem, and threatening its long-term sustainability, and even survival.

With the introduction of xExchange, we present a new economic structure and foundation that intends to solve this ecosystem-wide problem in a compelling way.

Maiar xExchange Overview

xExchange (Maiar DEX 2.0) presents a set of significant improvements and benefits while correcting the most important limitations residing in the previous economics model.

Here is a summary of the key insights xExchange brings:

• The total supply will be capped. The proposed emissions, amenable via governance in 5 years, will decrease year by year and will be zero in 8 years. This will immediately make MEX 3 times less inflationary than in Maiar DEX 1.0.
• LKMEX v2 introduces the powerful concept of energy, which builds on the v1 “time lock” concept to increment utility. In xExchange, users will enjoy many new benefits simultaneously. Boosted APRs in Farms and Metastaking, 100% Metabonding rewards, staking rewards received automatically, direct access to preferential xLaunchpad tiers. Governance Power, 50% of energy removal fees and 0.10% from all swaps.
• LKMEX v2 will be a game changer by shifting from a paradigm prioritizing quantity to a paradigm prioritizing quality: 100 LKMEX with 0 energy has no utility and no power, while 1 LKMEX with 100 days of energy has more utility and more power.
• Users who convert all their LKMEX v1 to LKMEX v2 will earn between 2x and 10x more Metabonding rewards during the first 3 months and earn an NFT that can be exchanged with a guaranteed launchpad ticket.
• LKMEX v2 will bring a robust and reinforcing value accrual mechanism by which even exits from the energy paradigm benefit long-term contributors and holders: when users remove energy from their LKMEX, up to 80% of the whole amount is redistributed to long-term contributors and holders.
• LKMEX’s core principle will be protected by being non-transferable in general. Except in trusted setups like xExchange services and protocols whitelisted by governance or between two wallets.

Complementary to LKMEX, the new MEX will be the key entry point for the entire exchange ecosystem. Serving as both a payment token and access token, bringing recurring demand from projects. Users who want to interact with and access the benefits brought by the exchange.

Some of the specific benefits:

• Fully transferable on xExchange (and other exchanges as well)
• Buyable with on-ramp solutions (Moonpay, Transak, Ramp, etc)
• Usable for payments in xPortal SuperApp, xSpotlight NFT marketplaces, xMoney platform, and soon other places within the community
• Top-up cards, maximizing utility for the users
• Usable as liquidity in xExchange pools to earn trading fees and farm rewards
• The entry point to all xExchange energy-based utilities/applications. It also brings a generous bonus pack for those who convert MEX to LKMEX (more details prior to launch). So first-time users and existing users bringing more new energy into the system are rewarded

ABOUT Maiar Exchange

Maiar Exchange is DEX AMM running on the Elrond Network. It is built by the same team that has built the Elrond blockchain. You could call it the “official” DEX. There can be any number of DEX-es built on Elrond. The team wanted to build the first one because it is special.

Website | Twitter

RESOURCES

Elrond Network

REQUEST AN ARTICLE

The post The Maiar DEX Transformation appeared first on Smart Liquidity Research.

Leading Canadian Blockchain Figment Is Now Offering Non-Custodial EGLD Delegation Services

Elrond is excited to announce that Figment now offers Non-Custodial EGLD Delegation Services, their well-established validator experience on Proof-of-Stake protocols to offer highly reliable & secure staking services within the Elrond Network.

Figment is a Canadian-based blockchain infrastructure provider that has an industry-leading role in developing next-gen products and services designed to remove the complexities, making it simple to use and build on top of blockchain networks, with a strong focus on PoS protocols.

Figment recently deployed staking pool already has 22 validator nodes, make sure to check them out here https://explorer.elrond.com/identities/figmentnetworks

“As the Elrond ecosystem continues to expand, we are seeing a growing demand for top-notch infrastructure solutions and Figment is leading the charge with their impressive experience in the field. We are happy to see such professional blockchain infrastructure operators leverage their unique capabilities to power the ecosystem and drive it forward.“ said Lucian Mincu, Elrond Network CIO

About Elrond

Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations. A novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm. Enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.

Website | Twitter 

About Figment

Figment are one of the world’s leading providers of blockchain infrastructure. At Figment, their mission is to support the adoption, growth and long term success of Web 3. This is Figment’s unique approach: making it simple to build on the next generation of blockchain technology.

Website | Twitter 

SOURCE

https://elrond.com/blog/elrond-staking-provider-figment/

REQUEST AN ARTICLE

The post Figment Now Offers Non-Custodial EGLD Delegation Services appeared first on Smart Liquidity Research.