If you are a person that is looking to price lists every day or at least once a week, I would presume that you might have heard of the Elrond blockchain with it's own coin eGold (EGLD). The price comparison with BTC it a little bit of these days and it could not recover, mostly (I think) because of a major selloff in the Maiar Exchange platform of the native token Mex and several others.

As the new year is coming right around the "corner", the Elrond ecosystem developers decided that a new chapter should arise by revolutionizing the Maiar DeFi exchange. I do not know if the new names have been discussed with the community but anyway, now the Elrond blockchain it is called Multiverse X, (kind of a weird name to put that on... maybe the devs thought that it can be related to the metaverse of some sort...) but still not as weird as the name for the exchange platform, which btw can you guess it? It's xExechange, or maybe X Exchange, who the hell knows how you spell it? I am totally stoned by this and I'm also guessing that there were some copyright infringement from MEXC in place and they were force to take a drastic immediate decision. Who knows? Still, nevertheless, if you are going to ask me, this is definitely a stupid name with absolutely no creativity efforts... for both names nevertheless!

Leaving the names aside, the new concept of energy is quite interesting to say the least but, it makes me feel in very weird way... more like aaam... a prisoner of the exchange. I do not know how to explain well, so that you can understand my feelings while I was navigating through the xExchange... Maybe it would be better for me to show you the concept and the design of this DeFi platform and you can judge for yourself.

The xExchange it is relatively no different then most DeFi platforms, it has Swaps, Liquidity pools and Staking rewards.
Unlike others, it has another feature that is quite nice, I suppose... It is called Metabonding, and is a sort of a "staking ICO" which allows you to gain some different coins and tokens from newly added projects that have a direct impact to Metaverse. Currently there are 8 projects in total (as of December 30th, 2022):

- Sense4FIT

- QoWatt

- Utrust

- ZoidPay

- Aerovek

- BHNetwork

- Effort Economy

- Isengard

Each day there is a snapshot of your LKMEX which is the Maiar native token that is locked and cannot be swapped or transferred between accounts or other platforms. Only the unlocked one, the MEX, has "freedom of movement". After a week the you receive the tokens and it resets itself.

So this LKMEX it is locked for a much longer period of time then pervious version, x4 more to be exact and on-lockability is everything in one time process, unlike V1 that unlocking was gradual. It has been implemented the concept of batteries and energy which bassically you lock the MEX into LKMEX so that you can gain extra rewards like Metabonding or an extra reward by yield farming (beside the normal faming APR). By switch LKMEX V1 to LLMEX V2 you basically increase the locking period, and the LKMEX V2 will be called XMEX. Maybe because there is no gradual unlocking period I feel trapped somehow...? Or maybe it's because of these so called benefits that they kind of sounds to good to be true.

The interaction with the platform feels very different to me then it was before. If you guys have the same feeling or not at all please let me know down in the comment section.

Their staking is called Metastaking which allows only those tokens that have a PoS blockchain.

These tokens are:

- RIDE (which is the very first token integrated into Elrond's platform)

- ZPAY

- ITHEUM

- BHAT

- UTK

- CRT

- ASH

The Farming is relatively good, now in the bear market. The APR has been significantly reduced in the new exchange but still good for faming anyway.

Their pairs are as following:

MEX-EGLD

USDC-EGLD

RIDE-EGLD

ITHEUM-EGLD

UTK-EGLD

CRT-EGLD

ASH-EGLD

I definitely like EGLD as a layer 1, it is way faster then ETH and comparable to CELO or ZIL in terms of TPS. The blockchain it has never been hacked (only the Maiar Exchange Bridge, which is basically not a hack but an exploit that happens to most of the bridges that interacts with Ethereum and which has been fixed).

So what do you guys think? Have you tried this DeFi Exchange? Does it sounds attractive to you or you have some hesitation in utilising it?

Take care out there!