In the last month, THORWallet has achieved important partnerships the BNB Chain and Rango Exchange. However, there is another achievement that will let you make fast and permissionless cross-chain swaps of native tokens.
This will be possible with the new partnership that THORWallet now has with Maya Protocol, a decentralized liquidity network that has its native token, CACAO. In this article, you will learn more about this partnership and how it works.
What is the THORWallet and Maya Protocol Partnership?
With this alliance, anyone will be able to add liquidity to any of Maya’s pools and do cross-chain swaps in Maya’s pairs with CACAO. For example, for all the users who add BTC in Maya Protocol using THORWallet, the network will add the same number of CACAO tokens and automatically create a CACAO/BTC pool in a 21-day period. There will be 3 confirmed pools at the start: CACAO/BTC, CACAO/ETH, and CACAO/RUNE.
After this happens, the total CACAO supply, 100 million, will be distributed in yields in the same proportion to their contributions. So, the more participants, the CACAO yields are higher. More info here.
🚨We are very excited to announce our collaboration with @MayaProtocolEng 🚨
What will the collaboration look like? What is #MayaProtocol? How does it work? Keep on reading to find out🔎👇
🧵1/ pic.twitter.com/DXNUlK0Lou
— THORWallet DEX⚡️ (@THORWalletDEX) November 25, 2022
This is possible because of Maya Protocol. This Cosmos SDK network is a friendly fork of THORChain. Therefore, users can do permissionless cross-chain swaps between native assets like Bitcoin and Ethereum. It’s important to mention that the Maya Protocol is working to make its CACAO token a source of liquidity for many different upcoming pools.
More About The THORWallet and Maya Protocol Partnership
The Maya Protocol has another token, MAYA. This internal token will retain 10% of all fees generated by all the swaps inside the protocol. For example, If the Maya Protocol earns $100, $10 goes to the MAYA token and $90 to liquidity providers and node operators.
This means that the price of MAYA will increase in line with the growth of the network. The initial MAYA holders will be private investors, the development team, advisors, and founders. More info here.
🧵6/ $MAYA Holders🫰
Holders are initially going to be the:
🛠️development team
🧑💼private investors
🎓advisors
🤝foundersThis ensures the🥩holders are incentivised and able to keep on 🏗️building & 📈growing the project.
— THORWallet DEX⚡️ (@THORWalletDEX) November 25, 2022
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by THORWallet. Copyright Altcoin Buzz Pte Ltd.
