Maya Protocol is thrilled to announce the launch of SAVERS, our latest product designed to empower users to earn yield from swap fees and liquidity rewards while maintaining a single-sided asset exposure. In simple terms, you can now earn Bitcoin on your Bitcoin and retain full control over your assets.

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The concept of the Savers vault was initially introduced by THORChain, the foundational protocol from which Maya Protocol originates, just last month. THORChain blazed a trail by bringing this groundbreaking service to the DeFi space, making it permissionless. Previously, such services were exclusively available in the CeFi realm.

As a result, THORChain’s Savers vault has already attracted over $25 million in deposits! See the tweet here.

Maya Protocol has taken the initiative to develop this groundbreaking feature. As Maya seamlessly integrates with THORChain and supports various blockchain networks, we are extending the reach of Savers to new chains. Currently, Maya Protocol supports Dash, Kujira, and THORChain will soon support Arbitrum and Cardano.

Furthermore, it will also be possible to bond your Savers positions. This option allows you to earn extra yield by bonding your Savers unit and unlocking node yield, all without exposure to $CACAO.

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How do savers work in Maya?

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1. ​​To get started, users mint a Synthetic asset - an asset that maintains a 1:1 relationship with the underlying L1 asset.

2. Next, users lock this synthetic asset in a Savings vault, receiving Saver Units in return, representing their ownership of the total vault balance.

3. The underlying asset goes to the Maya Pools.

4. Maya Protocol monitors the yield generated by the underlying Synth liquidity and directly channels that yield into the vault.

5. Depositors can reclaim their principal and earnings at any point.

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Savers Bonds in Maya

Bonding your Savers is an added benefit of Savers service. While we will explore its workings in a dedicated article, here's a brief overview:

One key distinction between Maya and THORChain lies in their design. In Maya, you have the ability to bond LP (Liquidity Provider) units, unlocking yield from nodes while upholding network security. In contrast, THORChain only allows the bonding of $RUNE tokens.

This principle extends to Savers as well. Once Savers users acquire their Savers units, they can bond these units to earn yield from nodes, mirroring the same concept. Read more about Liquidity Nodes here.

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Benefits for everyone

Let's explore the benefits for everyone involved.

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Benefits for Depositors:

1. Single-Asset Exposure: DEFI users can earn yield without being exposed to multiple assets, eliminating the risk of holding $CACAO or other assets.
2. Protection from Impermanent Loss: Savers users won't be susceptible to impermanent loss, ensuring a more secure and predictable yield generation experience.
3. Flexible Withdrawals: At any given time, Savers users can claim their portion of the vault, comprising their principal asset, along with all the yield they've accumulated.

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Benefits for the Maya Community:

Individuals are actively involved with Synths by taking part as depositors in Savers Vaults.
This sets in motion a chain of positive developments within the ecosystem: it strengthens liquidity providers (LPs), resulting in reduced slippage for traders, which in turn amplifies swap volume. Increased swap volumes lead to greater fee collections, drawing in more users keen to deposit funds in their quest for higher yields, thereby enriching the overall ecosystem.

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How to get started?

Eligible assets:

Bitcoin
Ethereum
Dash
Kuji
Rune

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Interfaces:

Our partner interfaces will support the Savers Vault. Stay tuned to know when this is available.

El Dorado

Thorwallet DEX