Maya Protocol Chain Integrations
Maya Protocol’s founding has always been on the premise as a friendly and complementary fork to THORChain. To this end, Maya has chosen to integrate chains which are not integrated, nor planned to be integrated by THORChain. With Maya itself having a CACAO:RUNE pool since genesis, the different chain integrations of THORChain and Maya are symbiotic to realize the vision of decentralized and permissionless liquidity rails between more and more previously isolated parts of the cryptocurrency universe.
Let’s have a brief look into the chains integrated into Maya so far:
1- The genesis chains: Bitcoin, Ethereum & THORChain (Genesis March-2023)
Bitcoin and Ethereum, being the two largest chains with current market dominance of 57% and 15% respectively, were too-big-to-ignore and thus included in the genesis launch of Maya. This is not viewed as a pure competition to THORChain, but rather also as a backup for the times when THORChain may be offline (be it intentional or not).
THORChain itself was also integrated into Maya at genesis, thus being the only other decentralized liquidity for RUNE, besides THORChain itself. This CACAO:RUNE pool will be the cornerstone for the near future implementation of single-signature dex aggregation between THORChain and Maya.
Besides these three genesis chains, most of the other, newer chain integrations (as detailed below) were to all somewhat isolated blockchains, with limited decentralized liquidity elsewhere. This is where Maya shines as a complement to THORChain.
2- Dash (Integrated July-2023)
Dash was created in 2014, and is currently ranked #218 by CoinGecko with a $303m market cap, and daily trading volume of $44m.
Dash is a privacy-focused cryptocurrency forked from Bitcoin. It offers instant transactions, a two-tier network (masternodes and miners), and optional privacy features like PrivateSend. The project focuses on making cryptocurrency accessible and usable for everyday transactions.
Currently, the CACAO:DASH pool has a $485k depth, and has transacted $11.4m over 25k transactions in the past year.
3- Kujira (Integrated Oct-2023)
Kujira started as a Liquidation Protocol on Terra in 2020, before pivoting to a sovereign blockchain in 2021, and is currently ranked #764 by CoinGecko with a $40m market cap, and daily trading volume of $144k.
Kujira offered a full-fledged suite of interconnected FinTech tools centered around ethical, community-driven, and sustainable decentralized finance, e.g. liquidation bidding, on-chain order books, lending/borrowing market, fair-launch launchpad, and an all-in-one user-friendly wallet app.
Currently, the CACAO:KUJI pool has a $374k depth, and has transacted $16.4m over 33k transactions since integration.
There is also the CACAO:USK pool with a $8.4k depth, and has transacted $411k over 6k transactions since integration.
In Aug-2024, a future collaboration between THORChain and Kujira was announced. Kujira’s existing tech/apps would migrate to THORChain’s new app-layer with CosmWasm functionality. As such, in a few months time, it is expected that the current Kujira chain will be retired from Maya.
4- Arbitrum (Integrated Apr-2024)
Arbitrum was created in 2021, and is currently ranked #48 by CoinGecko with a $2.3b market cap, and daily trading volume of $337m.
Arbitrum is an Ethereum Layer 2 scaling solution that optimizes smart contracts and transactions to improve scalability, speed, and cost-effectiveness. It uses a rollup mechanism to execute transactions off the main Ethereum chain, significantly reducing fees and increasing transaction throughput. Arbitrum aims to make Ethereum-based applications faster, more efficient, and more accessible.
Currently, there are sixteen Arbitrum asset pools on Maya, with a combined depth of $770k. The biggest two pools are the CACAO:GLD pool with $217k and CACAO:USDT pools with $142k depth respectively.
5- Radix (Integrated Aug-2024)
Radix was founded in 2012, and is currently ranked #275 by CoinGecko with a $214m market cap, and daily trading volume of $1.9m.
Radix is a DLT (Distributed Ledger Technology) network that focuses on scalability, security, and decentralization. It uses a unique consensus mechanism called Radix Consensus Ledger (RCL), which allows for high transaction throughput and low latency. Radix aims to enable the creation of decentralized applications and services across various industries, including finance, gaming, and supply chain management.
Currently, the CACAO:XRD pool has a $571k depth, and has transacted $631k over 1.2k transactions in the first few weeks since launch.
Future Integrations
Maya is still working hard to land more complementary blockchains in near future, with Zcash and Cardano being the front-runners (https://docs.mayaprotocol.com/introduction/roadmap-2024).
Note: Maya pool and transaction stats taken from https://www.mayascan.org/pools and https://www.mayascan.org/stats/assets.
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