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TLDR:
- Maya Protocol has successfully integrated with Radix, enabling trustless cross-chain asset swaps and unlocking new routes for TVL across supported chains to flow into the Radix ecosystem.
Following a favorable vote by the decentralized MAYANode operator community, the Maya integration with Radix is complete! Maya Protocol and Radix users can now trustlessly exchange assets cross-chain, opening up new routes for the $63 billion of TVL on chains supported by Maya Protocol to flow into Radix.
The Maya Protocol integration will enable more users and assets to flow into Radix, giving dApps built on Radix more room for growth. It will help boost key network metrics such as TVL, weekly transactions, user acquisition, and retention.
This integration represents a significant milestone for Radix, as expanding access for users from other chains to seamlessly bridge their assets into and out of the Radix ecosystem has been a key priority.
The first way to use the new Maya Protocol integration is via CacaoSwap. Using CacaoSwap, Radix users can easily swap between major assets such as native BTC, and ETH, USDT/C on Ethereum, Arbitrum, Avalanche, and others.
About Maya Protocol
Maya Protocol is a friendly fork of THORChain that allows users to swap assets cross-chain, for example, swapping USDC on Ethereum to XRD on Radix. It harnesses cross-chain liquidity and directly manages funds through on-chain vaults, bolstering security through economic incentives and robust mechanisms. Averaging 4m USD of trading volume daily, Maya protocol provides a new entrance point for native crypto users to onboard to Radix and explore the ecosystem.
The most recent roadmap objective completed by Maya was the integration with the Ethereum-based L2 scaling network Arbitrum, followed by Streaming Swaps, and then the Radix integration. Streaming swaps are an exciting feature because they break large swaps into multiple smaller ones to reduce slippage, providing better price execution.
Streaming Swaps are similar to Time Weighted Average Price (TWAP) trades but with a 24-hour time limit. The process consists of two key components:
The interval part of the stream allows arbitrageurs enough time to rebalance intra-swap, ensuring that the capital demands of swaps are met throughout the process rather than after completion.
The quantity part of the stream allows the swapping user to reduce the size of their sub-swap, so that each is executed with less slip. This means the total swap will be executed with less slip, without losing capital to on-chain L1 fees.
If users are willing to be patient when doing a swap, they can execute the swap at a better price by allowing arbitrageurs to rebalance the pool between the streaming swaps. Once all swaps are executed and the streaming swap is completed, the target token is sent to the user (minus outbound fees).
As Radix and Maya Protocol continue to grow, each new milestone ticked off the roadmap adds to the long list of growth opportunities for both ecosystems.
CacaoSwap, a dApp on Maya Protocol, is ready to facilitate your first Radix and Maya cross-chain swap.
For more information, visit CacaoSwap.