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Following a vote by the decentralized MAYANode operator community, Maya Protocol—a platform specializing in decentralized liquidity and enabling seamless swaps across various blockchains—has officially signaled its intention to pursue an integration with Radix. MAYAChain operates as an Automated Market Maker, akin to Uniswap, but stands out by harnessing cross-chain liquidity.
This green light from the Maya community opens the door for the RDX Works team to complete the integration of Radix with MAYAChain. As a friendly fork of THORChain, MAYAChain directly manages funds through on-chain vaults, bolstering security through economic incentives and robust mechanisms.
The foundation of Maya’s security model lies in the integration of the Tendermint consensus engine, the Cosmos-SDK state machine, and the innovative GG20 Threshold Signature Scheme (TSS), all of which contribute to ensuring the network's solvency and stability.
This successful vote to approve a Radix Integration reflects the decentralized MAYANode operator community's trust and endorsement of the Radix Network, marking a significant step forward in enhancing interoperability and security between DeFi ecosystems.
What will the Maya integration enable?
Now that the MAYANode operators have voted to approve a Radix integration, the RDX Works team will complete it. Once the integration is complete, users of Maya and the Radix Network will be able to trustlessly exchange assets cross-chain without compromising on security.
In short, this opens up a range of trustless asset bridges into and out of the Radix ecosystem. As a result, more users and assets can flow into the Radix ecosystem, increasing the opportunity for DeFi dApps building on Radix to continue to grow. This will help contribute to key network metrics such as TVL, weekly transactions, and user acquisition/retention.
The integration is planned to launch during the middle of 2024.
The 3-Pillars of MAYAChain
The three declared pillars of the MAYAChain are:
- Enhance the Security of the network through Functional (Solvency Checker, Node Pause, TxOut Throttler), Procedural (Stagenet testing, PR reviews), and Economic (LP units in the bond, or value of the LP units in the bond) Security measures.
- Increase the Liquidity of the network via Total Value Locked (TVL), or better UX around providing liquidity (Savers).
- Boost the Volume of the network via Swap UX (Synths, Order Books), or wallet Integrations (Quotes Endpoint, Dev UX, Business Development).
The growing ecosystem of the Maya Protocol
The 2024 roadmap for Maya is filled with integrating more chains into their ecosystem alongside some key additions to chain functionality.
Savers: This feature enables users to earn fees by depositing assets into Maya without the risk of exposure to $CACAO.
Arbitrum Integration: Supports Ethereum deposits on the Arbitrum Chain for enhanced swaps and liquidity actions.
Streaming Swaps: Reduces slippage by breaking large swaps into smaller transactions for better price execution.
Dex Aggregation with THORChain: Facilitates seamless swaps between THORChain and MAYAChain assets.
Zcash and Cardano Integrations: This integration allows $ZEC and $ADA deposits for various actions, increasing Maya's interoperability.
Memoless Transactions: Opens integration possibilities with chains and wallets that do not use memos.
This nod of approval from the Maya community to proceed with the Radix integration marks a meaningful step in the growth of both ecosystems.
The Radix network has been ticking off its own roadmap goals in the last six months after launching smart contract capabilities; more than 20 dApps have deployed to Radix, with CaviarNine, DefiPlaza, Ociswap, and Weft Finance helping Radix amass over $50m in TVL. This year, the Radix Wallet will also provide a seed-phrase-free user experience, leveraging the fully decentralized multifactor capabilities of the Radix Network, which is an industry-first onboarding experience.