Apr 26, 2022 • 1 min read

Significant Elrond DeFi Milestone: The First Price Discovery Process On The Maiar DEX Has Been Successfully Completed!

Dan Voicu
Dan Voicu
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10,000 pioneers have participated in the Itheum Price Discovery process, deposited a total of $30 Million USD and helped make Elrond DeFi history.

A total of 98k EGLD and 16.65M ITHEUM were deposited in the Smart Contract before the end of the event, for a final EGLD:ITHEUM ratio of 1:169, resulting in an ITHEUM to be valued by the market at ±$0.88 USD at the time of writing.

The community demand for joining the Itheum ecosystem as early as possible has been overwhelming, with ±80% of participants in the price discovery process depositing EGLD and now standing to receive ITHEUM.

Participants can now proceed to reclaim the tokens resulting the deposits they have made. Even if locked until April 30, 16 UTC, the tokens resulting out of Price Discovery can be used to add liquidity and then stake the resulting LP tokens in the farm.

Liquidity can be added in any combination of locked and unlocked tokens, which means that every ITHEUM holder can participate and earn up to 1000% APR as farm rewards in the first 7 days.

The ITHEUM token listing process will continue after this phase with the actual listing, when trading will start and the farm rewards will be enabled, both events according to special conditions, as described in the initial blog post.

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Claim tokens & start adding liquidity: