The underlying technology of Maya Protocol utilizes multiple advanced frameworks to achieve secure and efficient cross-chain transactions, without relying on traditional asset wrapping or pegging methods. The following is a detailed introduction to the core technologies supporting Maya.

Cosmos SDK and Tendermint consensus

Maya Protocol is built on the Cosmos SDK, which is a modular framework that promotes interoperability between different blockchain networks within the Cosmos ecosystem. This SDK provides Maya with scalability and flexibility, enabling it to integrate with various Cosmos-based chains and simplifying developers' access to the protocol.

In terms of transaction verification, Maya adopts the Tendermint consensus mechanism. Tendermint is known for its high speed and security, using a Byzantine Fault Tolerance (BFT) model to ensure transactions are processed quickly and reliably. This mechanism is crucial for preventing double spending and maintaining the integrity of cross-chain asset exchanges.

Threshold Signature Scheme (TSS)

One of Maya's security advantages is its use of threshold signature scheme (TSS), which enables decentralized key management. TSS allows multiple nodes to jointly verify transactions, eliminating the risk of single point of failure. By dispersing the signing authority to multiple nodes, TSS reduces the risks associated with central control, making the protocol highly resistant to security threats and reducing the likelihood of hacker attacks and unauthorized access.

MAYAChain and AZTECChain

As the primary automated market maker (AMM) of Maya Protocol, MAYAChain is similar to THORChain and supports direct on-chain exchanges between different blockchains. By directly managing assets in on-chain reserve pools instead of using wrapped tokens, MAYAChain enhances the security of transactions as assets remain in their native state and are fully protected on the chain.

AZTECChain is still under development and plans to introduce smart contract functionality to the Maya ecosystem, supporting complex financial products such as synthetic assets, algorithmic stablecoins, and decentralized derivatives. As a fork of Cosmos Hub, AZTECChain will provide developers with a mature infrastructure for creating and deploying smart contracts, greatly expanding the application scenarios within the Maya ecosystem.

Dynamic Incentive Mechanism

To maintain the balance of the system, Maya Protocol adopts an 'incentive pendulum' model to dynamically adjust the rewards for node operators and liquidity providers. When liquidity is high in the liquidity pool but node binding is low, the rewards tend to favor the nodes to ensure the security of the system. Conversely, when node binding is high and liquidity is low, the incentives shift towards the liquidity providers. This model supports a self-sustaining ecosystem that balances security and liquidity.

Streaming Media Exchange and Integration Toolkit

Maya Protocol provides streaming exchange functionality that allows users to obtain the best price by splitting bulk trades into smaller parts and executing them over time. This approach effectively avoids market shocks and ensures that users can get better prices when making bulk trades.

In addition, the protocol also provides SwapKit SDK to help developers integrate Maya's cross-chain functionality into other platforms, expanding the protocol's influence and availability in decentralized finance (DeFi) and blockchain applications.

Cross-chain AMM feature

Maya Protocol's cross-chain automated market maker (AMM) functionality makes asset exchange between different blockchains smooth, without relying on traditional, high-risk asset wrapping or pegging methods. This is achieved through direct on-chain swaps, with assets maintaining their original state throughout the transaction process.

Unlike traditional bridging technologies (which usually require wrapping assets and may result in security vulnerabilities), Maya manages assets in the on-chain insurance pool, which adds security and reliability to its cross-chain transactions.

On-chain insurance pool and security

Maya Protocol's on-chain insurance vault securely stores and manages assets during the exchange process, reducing the risks associated with bridging solutions. By using the insurance vault, the protocol avoids intermediary tokens, thereby enhancing the security of transactions and reducing the risk of user asset attacks. This design ensures the security of high-value cross-chain transactions, which have always been a primary target for bridging attacks in the decentralized finance (DeFi) field.

Media streaming exchange to achieve optimal pricing

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Maya's automated market maker (AMM) supports streaming exchange function, allowing large transactions to be split into multiple smaller transactions and executed over time. This method effectively reduces the price impact on the liquidity pool, ensuring users can obtain the best price when trading without disrupting the liquidity structure of the ecosystem. The streaming exchange is not only beneficial for traders, enabling them to enjoy better prices, but also reduces pool balance volatility for liquidity providers.

Dynamic incentives to balance liquidity and security

Maya Protocol adopts an 'incentive pendulum' model to balance liquidity and security by dynamically adjusting rewards. When node binding (i.e., network security assurance) is low, node rewards increase to encourage higher security. Conversely, when liquidity demand increases, incentives shift towards liquidity providers, thereby promoting ecosystem stability. This mechanism ensures that Maya can maintain liquidity and security in real-time, adapting to user needs and market changes.

Interoperability and Cosmos SDK

Maya is built on the Cosmos SDK, and its cross-chain AMM leverages the extensive interoperability of the Cosmos chain to promote a decentralized network, enabling assets from different blockchains to interact seamlessly. In addition, Maya also plans to integrate with other DeFi ecosystems, such as Radix and Arbitrum, further enhancing interoperability, allowing assets from multiple blockchain networks to be accessed on one platform.

Maya Node

The node structure of Maya Protocol is at the core of its decentralized and secure cross-chain operations. Maya's nodes are responsible for verifying, protecting, and maintaining the liquidity of cross-chain transactions. The protocol primarily consists of two types of nodes: liquidity nodes and security nodes.

Liquidity Node

Liquidity nodes provide assets to the liquidity pool, supporting the cross-chain automated market maker (AMM) functionality of the protocol. By binding assets, these nodes ensure liquidity in the Maya ecosystem, enabling smooth asset exchange without relying on asset wrapping or bridging.

Maya adopts the 'incentive pendulum' model to maintain a balance between security and liquidity in the ecosystem. When the system requires more liquidity, the rewards for liquidity nodes increase, attracting more assets to enter the liquidity pool. Conversely, when there is a need to increase security binding, the incentives shift towards security nodes. This flexibility ensures that Maya Protocol can respond promptly to changing ecosystem needs.

Security Node

Security nodes are responsible for validating and transmitting transactions between Maya and other blockchains. Their primary task is to protect the protocol from malicious activities, ensuring decentralization and reducing the risk of node attacks by rotating nodes every three days.

To enhance security, the secure node adopts TSS (Threshold Signature Scheme), which means no single node has the signing authority for transactions. Instead, transactions are collectively verified by the majority of nodes, reducing potential security vulnerabilities and maintaining high security standards.

Maya Protocol maintains the anonymity of nodes and regularly rotates them. This design aims to prevent node monopolies, promote decentralization, further enhance security, and protect nodes from specific attacks. By anonymizing node operators and implementing regular rotations, Maya enhances the trustless nature of its decentralized exchange.

Safe nodes need to bind a certain amount of $CACAO tokens as collateral to incentivize node operators to act in the best interests of the protocol. If a node behaves improperly, it may lose its collateral, aligning the interests of node operators with network security goals.