I recently published a post on leofinance about Maya Protocol and I shared the basics about this DeFi protocol. I have been going through the project and figured out that there is a lot that Maya's team is trying to build. So in this article, I will share more about it that can help you get a better insight into the project. This is one of the projects in decentralized financing that follows the futuristic approach and because of this, I believe it's going to get more attention from the community.
Undoubtedly the project is backed by high-end technology making it safe and secure while keeping it easy to use. This is also the fork of Thorchain so trust is not the problem and they have maintained the legacy that means the users are going to get devil options to choose from while performing the SWAP transactions. The market is growing because a lot of people are getting onboarded and to accommodate this growth we need to have platforms that are not good at following the traditional approach instead, they should be ready to manage it on the scale as well and they must be offering the innovative solutions.
The Fair Launch and 1st Milestone
There has been no IDO as many other projects do and this is where the Maya has followed a different approach. They plan to launch $CACAO with their design of liquidity. It sounds different and may be something that the community is not aware of but I believe there is always room for improvement and coming out with something new for all of us. Experimenting is something that can turn out to be great and I believe with Maya Protocol we are going to experience many new things which have not been part of any decentralised finance protocol yet.
This is significant and the way the community has shown interest is good for the project which I believe is going to be even bigger over the period. this is quite a big amount that the project has got invested in the beginning so it shows how the community is excited to see more of this and later things are going to be even more exciting.
Maya Protocol’s community entrusted the project with more than USD 11.4M, broken down as follows:
119.27 BTC
975.6 ETH
3,748,019 RUNE
806,368 USDT
131,735 USDC
The trust of the community is the key component I believe because this drives the project team to do even better and now since the Maya protocol has got great attention from the community so they must be on their spot to build something great and offer the best of decentralized finance experience to the Crypto World.
Stats
It is important to go through statistics to understand how things are going and here is the snapshot that I am sharing which can get you better insights. More stats can be seen at https://www.mayascan.org/stats and here is the one I have taken for the 60 days. You can see the volume for swap and also swap volume in different types in which the value of the token is pretty good. The graph shows that the growth is going on the right track as we can see the momentum is not down and we can see some good growth in terms of the overall volume.
This one is even more interesting in that it's showing the number of active wallets as well as the total number of wallets. The number of active violets seems stable and there is no big dip but there is a significant increase in the total wallets and it's a sign that more people are getting onboarded. More onboarding means there are a lot of people who want to be part of the project and they are creating the wallets which is good since the community is growing. Bigger the community means more money will inflow and that is going to drive the growth in a great manner and because of that, we can expect some exponential outcome of the project.
Social Media Presence
We are in the 21st century and any project needs to have a presence in social media. It's very common these days that every project to create channels on various social media channels but on top of that it's very important to stay active they are while sharing informative content for the community. it takes time for people to understand how things work and what tips they need to follow so on social media channels the project should mark its presence by sharing valuable content while keeping the community engaged and making them learn.
I have gone through the Twitter handle for my protocol and I am happy to share that the team is quite active in terms of the update sharing as well as they keep on sharing the content which is pretty good in terms of learning about the overall cryptocurrencies and even about their protocol. The learning initiative is a good step by the project and they also keep on sharing content that is easy to understand and knowledgeable here I am sharing one of the posts having video content that makes us aware that how we can become a liquidity provider on Maya Protocol. many people want to provide liquidity but for them, it's not easy to follow the process this video can be a great help for them to learn and understand the steps required for providing liquidity on this protocol.
https://twitter.com/i/status/1679135974968655882
- i
The content is nicely created while keeping the content easy to understand and maybe you can give it a try to see how it works for you but overall I like the idea of sharing the content this way and am impressed with the way they are available on social media handles.
Maya Academy- Learning Initiative
There are very few projects that focus on learning and making the community learn more about crypto things. This project has got a great initiative called Maya Academy and under that, you will get to see a lot of articles explaining different parts of cryptocurrencies and not just about the Maya protocol. We know that crypto is getting more attention worldwide but the fact is that a very few percentages of people are aware of what cryptocurrency and blockchain are hence there is a bigger room for learning and if we are expecting the mass adoption then we have to make them learn and understand about the Crypto and blockchain. if such projects take this type of initiative to spread knowledge and awareness about the crypto and blockchain then it will not be difficult for the people to get on board and that is what the Maya Protocol is trying to do. Indeed, one project cannot make everyone aware however keeping such content available in an open forum that is accessible to everyone can make a big difference.
Maya Academy URL- https://www.mayaprotocol.com/blog
There is a lot of content available on the other URL and it's not just about the Maya Protocol instead you get to know about many other things related to cryptocurrencies and how the blockchain works. This is a great approach followed by this project and undoubtedly they are trying to create a difference in the market which will surely help them get more people onboarded on their platform. Even if you are someone who is not interested to invest in the Decentralized Finance (DeFi) then also there is a lot for you to learn which will surely help your crypto journey making better. It's not about making defi protocol and expecting people to invest instead it's more about building an ecosystem that is sustainable in terms of the offerings as well as keeping the people engaged in terms of learning and earning combined. When people learn new things then they want to try them out and that is how we can expect the entire ecosystem to grow.
Conclusion
Maya protocol is a bigger ecosystem and the more I try to go deep into the project the more I get to know even more what I need to go through. It's one of the projects that is trying to build a bigger ecosystem and this way we can expect the overall crypto market and the decentralized finance ecosystem to grow much stronger and bigger so that people get more options to choose from and also follow the habit of investing more in the Crypto.
I believe that crypto is not just for trading anymore instead we have got a bunch of options where we can invest through different methods and earn rewards that can also be considered as returns on the investment. I have gone through some of the projects in the past offering such LP or staking services but the way Maya is trying to build is impressive. I'm not sure how this will do in the future but at this moment I can say that their approach is good for the overall crypto community which can go into the favor of the project since they know what the community needs and they are following the futuristic approach.
Website- https://www.mayaprotocol.com/
{Images are from Maya website for this post purpose}
Thank you so much
Stay Safe