Compound Maiar DEX Utility With The Arda DeFi Toolkit
We are excited to introduce the Arda toolkit for Elrond DeFi! The team behind these cool products first introduced them in the Maiar DEX Battle of Yields event, where they were one of our winners!
They have built a useful DeFi toolkit for Elrond users that brings quality of life improvements by reducing the number of transactions required for certain operations.
For example Arda Swap allows users to swap single or LP tokens in one click and one transaction. If swap was done manually, it could require up to 4x more transactions, i.e. going from MEX-EGLD LP to EGLD-RIDE LP.
Arda Compound allows you to compound your yield farming rewards from Maiar in one click and one transaction. If the compound was done manually, it would require 5x more transactions.
Arda Board is the front page of Arda, where users can track and manage all their Elrond holdings. This includes all ESDT tokens, like EGLD, MEX or USDC, but also LP tokens, like EGLD-MEX LP. One can also view staked EGLD and yield farming positions, like EGLD-MEX LP deposited in Maiar farms, and the associated MEX/LKMEX rewards.
You might already know their great charts for the Maiar DEX that bring additional insights for traders. Check them out at Arda Charts.
“The Arda team has demonstrated a deep understanding of the Elrond developer experience and has contributed valuable insights aimed at further expanding it. Their DeFi tools package a lot of complexity into simple operations, which I am sure will benefit users of all experience levels.” said Lucian Mincu, Elrond Network CIO.
“The Maiar DEX is a powerful economic engine that is rapidly progressing, which is an opportunity - and a challenge - for us over at Arda to develop complementary tools that make the interaction with DeFi products even simpler, further pushing Elrond adoption.” said Jacob Leygonie, co-founder at Arda.
About Elrond
Elrond is a new blockchain architecture, designed from scratch to bring a 1,000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
About Arda
Blockchain technology unlocks a whole new set of financial opportunities. The ambition of Arda is to make these opportunities accessible to everyone including non-tech people. To achieve this, Arda builds straightforward apps (an investment dashboard, a price tracker, a one-click swap and more) that are secure, inexpensive, fast and decentralized thanks to Elrond state-of-the-art blockchain technology.
Lucian Mincu, co-founder and CIO of MultiversX, is a self-taught tech prodigy, previously engineer at Uhrenwerk 24, Cetto, and Liebl Systems. and co-founder & CTO of MetaChain Capital. His ability to navigate complex challenges and carve out solutions is nothing short of extraordinary, making him a driving force behind the success of MultiversX.
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