Radix And Maya Protocol Team Up to Enhance Cross-Chain Asset Exchange
blockchainreporter.net 03 September 2024 12:07, UTC The Maya Protocol has been successfully integrated with Radix, which enables trustless asset exchanges across multiple chains and unlocks new pathways for tokens of value (TVL) from supported chains to flow into the Radix ecosystem.
The @Maya_Protocol integration with Radix is complete!
Maya and Radix users can now trustlessly exchange assets cross-chain on platforms like @CacaoSwap , enabling more users and assets to flow between both networks
Here’s the full details ⤵️https://t.co/qVrNhrfadu pic.twitter.com/uTiRQheZXR
— Radix – Radically Different DeFi (@radixdlt) September 2, 2024
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 4 million USD of trading volume daily, Maya protocol provides a new entrance point for native crypto users to onboard to Radix and explore the ecosystem.
More About This Partnership Between Radix & Maya
Radix DLT is a decentralized finance platform that provides a full stack for Web3 development. It offers a user-friendly Radix Wallet, Scrypto programming language, and Radix Engine for secure dApp development. Its Cerberus consensus algorithm ensures scalability and security, catering to developers and users in the DeFi and Web3 space.
After receiving a positive vote from the community of decentralized MAYANode operators, the collaboration between Maya and Radix has been completed. Users of Maya Protocol and Radix can now swap assets across chains in a trustworthy manner, which opens up new pathways for the $63 billion worth of tokens of value (TVL) that are now on chains supported by Maya Protocol to flow into Radix.
By allowing more users and assets to flow into Radix, the Maya Protocol integration will provide decentralized applications built on Radix with additional capacity for expansion. This solution will increase key network measures, including TVL, weekly transactions, user acquisition, and retention.
The expansion of access for users from other chains to seamlessly bridge their assets into and out of the Radix ecosystem has been a critical objective for Radix, and this integration represents a significant milestone for the company.
For the first time, the new Maya Protocol integration can be utilized through CacaoSwap. Radix customers can effortlessly exchange critical assets such as native Bitcoin and Ethereum, USDT/C on Ethereum, Arbitrum, Avalanche, and other cryptocurrencies.
