Welcome to Maya's Fair Launch! We have prepared this article to guide you through our Liquidity Auction process with clearness and simplicity. Here, we aim to answer all of your "how to…?" questions since we have already answered the "what is…?" type of questions here. 

If you are familiar with the process already or have read our past articles before, just remember the highlights of the Liquidity Auction:

• Our Liquidity Auction lasts 24 days, from March 07 to March 30, 2023.
• Anyone can get a share of these tokens after adding liquidity to the protocol; the more liquidity added, the more $CACAO received. More on Tiers later…
• We will distribute all 100,000,000 newly minted $CACAO tokens on March 31st.
• 90% of all tokens will be "donated" to our Liquidity Pools, and the rest will be directed to the Impermanent Loss Protection fund.
• You obviously keep ownership of all the assets you provided liquidity with, plus an amount of $CACAO that is proportional to those in USD dollar terms.
• There are no minimum entry tickets, whitelists, or KYC procedures of any kind.

How to participate

At a high level, adding liquidity into Maya simply involves sending tokens into one of the protocol's addresses with a "memo" —a special annotation on their respective chains— that identifies their user intent. This is, by the way, how all interactions with Maya occur. Users send transactions and indicate with a memo whether they want to make a swap, deposit, bond, etc. 

Having said that, Maya's addresses can be abruptly replaced or discarded — for example, during churning rounds — and sending funds to an old address can result in a permanent loss. We recommend participating in the Liquidity Auction through the ThorWallet web interface or mobile application for ease of use. User interfaces are designed to simplify our lives, and THORWallets’ will automatically handle any necessary memos or address changes for us. 

How to Choose your Tier  

Users who want to participate in the Liquidity Auction must select 1 of the 3 Tiers available to allocate their external assets.

This Liquidity Auction Withdrawal Tiers model below prevents rapid withdrawals right after the $CACAO distribution occurs and subsequent lockup period expirations. Do note that you can only select 1 Tier per wallet; the longest lockup Tier will be considered. The nominal distribution of $CACAO to each of the Tiers is dependent upon how many participants enter into different tiers as well as amount of assets in each. 

Tier 1

Tier 1 has the longest lockup period of 200 days, along with a 0.5% limit to daily withdrawal. This tier incentivizes more long term liquidity providers into the initial bootstrap of the protocol. These users are rewarded with a higher LP share, potential for 2x or more, and an additional $MAYA airdrop. Tier 1 Liquidity Providers (LPs) are our most committed long term LPs; therefore, withdrawals are not permitted during the Liquidity Auction period of 24 days. 

Risk Reward: 

• Highest risk and reward potential 
• There Is is always risk through market volatility

Tier 2

Tier 2 has a medium lockup period of 90 days with a 1.5% limit to daily withdrawal limits. These users are estimated to have a return of about 1.8x. Withdrawals during the Liquidity Auction period will only be allowed for Tier 2 & Tier 3 LPs without any limits. They can exit at any point if they no longer want to participate in the auction.

Risk Reward:

• Medium risk and reward potential

Tier 3

Tier 3 has the shortest lockup duration of 30 days, and a 4.5% limit to daily withdrawal limits. These users are estimated to have a return of about 1.34x. Withdrawals during the Liquidity Auction period will only be allowed for Tier 2 & Tier 3 LPs without any limits. They can exit at any point if they no longer want to participate in the auction.

Risk Reward: 

• Lowest risk and reward potential

NOTE:

Importantly, for Tier 2 and Tier 3, withdrawing from the Liquidity Auction is all or nothing. You cannot just withdraw 50% or some such.

Which Tier is the best strategy? 

The “best” strategy will be completely dependent on your risk and reward appetite. That said, Liquidity providers with longer-term horizons may choose Tier 1, as this provides the highest reward heavily at the expense of shorter-term players like Tier 2 and 3. These extra rewards incentives deepen liquidity on a longer term basis, giving the network more time to accrue liquidity and reach stability, in turn creating better cross-chain swaps for users. 

The best strategy for aspiring node operators is to participate as a Tier 1 LP, given that they theoretically have a long-term commitment already. This would result in a better chance at having more Liquidity for potential Liquidity Bond Wars to be churned into the active validator set. 

$CACAO: Asset prices will likely change after the donation event, as Maya Protocol will be live for swapping and arbing. Thus, all liquidity positions will likely have some amount of Impermanent Loss (IL). Since Maya’s IL Protection (ILP) has a 50 day cliff + 100/400 day ramp; early withdrawals may face some of this IL.

Check out a great calculator created by Kyle Krason for the Return on Investment expectations dependent upon the amount of external assets allocated to each of the different Tiers during the Liquidity Auction. 

Aaluxx and Kyle also had a brief discussion about the spreadsheet created and the different Tier risk and rewards.

Please do your own research on the Tiers and know that the Liquidity Auction is not without risks. If the Liquidity Auction is deemed disadvantageous for any reason (for example, there was too little liquidity raised) and the community decides to undo everything via Ragnarok, Tier 2 and 3 LPs might end up receiving back less than they originally deposited and effectively take a loss.

LPs that prefer not to have these types of risks or withdrawal limits can wait for the Liquidity Auction to be over and manually acquire $CACAO from a pool to then add liquidity. Wallets funded this way will have no limits or lockups.

If you have any questions about the Tiers, please be sure to join the Discord and ask us questions: https://discord.gg/mayaprotocol

ThorWallet Step by Step (Mobile App)

Once your assets are available and you have decided on your preferred Tier, here are the steps you should follow:

1. Download the ThorWallet application from either the App Store or Google Play. This should be pretty straightforward, but they also have a friendly "How to" guide if you want to use the Beta versions.

2. Create a wallet within the app or import one if you'd prefer. Their user interface guides you through both processes seamlessly, but they also have this Getting Started guide if you need help. If you do generate a new wallet, you will need to write down your new seed phrase somewhere safe. Remember, this is all non-custodial!

3. Explore the app and get used to it. You can send a small amount of crypto to your new addresses to ensure everything works fine.

4. Once ready, send your assets to their corresponding address. You can use their QR code representation if it is convenient. Click on any asset then you will find the "receive" button and the QR code will appear. Send only native BTC, ETH, RUNE and ERC-20 USDC or USDT; you can't provide wrapped or bridged tokens into Maya.

5. Tap on the Wallet icon on the bottom navigation menu, and select the Maya Liquidity Auction banner from those on the top. 

6. Select your preferred asset from the list. Click continue.

7. Enter the amount you wish to provide to the Maya liquidity pools and select your Tier. Tier 3 is selected by default.

8. In the next screen, only if you are prompted, approve the necessary ERC-20 contract and wait for confirmation.

9. Click the Add Liquidity Now button to broadcast the transaction and await the proper confirmation. You are all set!

ThorWallet Step by Step (Web App)

Once your assets are available and you have decided on your preferred Tier, here are the steps you should follow:

1. Go to the official ThorWallet website and click on the Enter the App green button.
2. Connect, import or create a wallet by clicking on the “connect” button on the upper-right part of the screen. If you do generate a new wallet, you will need to write down your new seed phrase somewhere safe. Remember, this is all non-custodial!

3. Explore the app and get used to it. Visit ThorWallet’s help center if you need. Send a small amount of crypto to your new addresses to ensure everything works fine.

4. Once ready, fund your ThorWallet address with the assets you intend to provide as liquidity. Send only native BTC, ETH, RUNE and ERC-20 USDC or USDT; you can't provide wrapped or bridged tokens into Maya.

5. Look for the “Earn” section on the left part of the screen, and click on “Liquidity Pools”. Select Maya from the filter buttons.

6. Select the pool you wish to add liquidity into. Input the amount you’d like to use and select your desired Tier. (Tier 3 is selected by default) 

7. Click on “preview”, tick the “Liquidity Auction is provided by Maya…” disclaimer and then click on the “Add Liquidity now” button. If you are prompted, unlock your wallet with your password to finalize the transaction.

8. Wait for the proper confirmation and you are all set!

ThorWallet Step by Step Videos

If you prefer video format, we have prepared two step-by-step videos for you:

ThorWallet Step by Step Mobile App Video.

ThorWallet Step by Step Web Application Video.

Ledger, Agardex, Thorswap

If you wish the participate in the Liquidity Auction via any of these. This is for advanced users only, and a manual transaction memo must be made. Only applies for ETH, BTC & RUNE, not stablecoins. You can read the guides in the following link: https://docs.mayaprotocol.com/guides

How to claim your $MAYA airdrop (as a $RUNE owner)

$RUNE holders are eligible for $MAYA airdrop, as outlined here.

Even if you send 1 $RUNE to the LA and get refunded due to your MAYA address already being linked to another account, your transaction will still be counted. Essentially, all addresses that attempt to send money to the vault, even if they get the memo wrong, are refunded, or can't add due to having another wallet, will be visible.

Each eligible RUNE address must be linked to a MAYA address for the airdrop from as soon as Maya Mainnet is live on THORWallet up until April 17th at 23:59:59 UTC.

1. Create a MAYA address (options to do so are listed below):

a. THORWallet DEX mobile wallet App (both iOS or Android) will automatically create a MAYA address. Do ensure your THORWallet DEX App is updated to the latest version.

b. THORWallet DEX webapp with a keystore will automatically create a MAYA address. 

c. maya node cli

Note: MAYA address will have the format of mayaxxxxxxxxxxxxx

2. Link Rune's address to Maya's address (multiple options listed below):

This step is accomplished by depositing at least 1 $RUNE from your RUNE address into the $CACAO liquidity auction or into the MAYA liquidity pools symmetrically (after the liquidity auction).

a. Using THORWallet DEX mobile wallet App (both iOS or Android) or webapp with Keystore. Check “How to participate in the Liquidity Auction” for instructions. Depositing a symmetrical LP with THORWallet DEX (after the Liquidity Auction) will be very similar.

b. Using THORWallet Dex webapp with XDEFI

c. Using AsgardEx

d. Using Mayacode.cli

Note: You do not have to keep your deposit in the Liquidity Auction/Pools for any extended period of time. Once the deposit has been successful, your RUNE-MAYA addresses will be linked, and you can then choose to withdraw the liquidity anytime.

Note: You can link multiple RUNE addresses to a single MAYA address.

3. Users holding Rune in other wallets (e.g. Ledger, Trust Wallet, etc.).

a. You must first generate a MAYA wallet, as per Step 1.

b. If you do not mind inserting your seed words into THORWallet DEX, you can then follow Step 2 above.

c. Otherwise, you would need to manually construct a transaction memo (I guess this will be covered by Asgardex or Mayanode.cli?. Interfaces like Trust Wallet or THORSwap can also be used for crafting memo, but I’m not confident in writing instructions for this).

d. Receive $MAYA airdrop

After completing the first two steps above, the MAYA tokens will be automatically airdropped into your Maya address before April 26th based on the linked RUNE addresses and their respective weights based on the airdrop criteria.

Claiming Using Manual Transaction Memos (e.g. Asgardex) 

Note: This option is only for those with advanced knowledge of MAYA Vault addresses, including churning details during/after the Liquidity Auction. Be careful while following this method.

1. Need 1 RUNE at least to send to the Maya TC/RUNE Asgard address (address format thor1xxxxxxxx).
2. Memo will be like this: +:thor.rune:maya1xxxxxxxxxxx, where maya1xxxxxxxxx is the user’s MAYA address 
3. Make sure you use SEND, not DEPOSIT 
4. After sending this memo, the linking process is finished.

Note:   

1. Maya TC/RUNE Asgard address will have changed if there has been a churn in the MAYA Protocol during/after the Liquidity Auction period. So, the person following this must know the details of the MAYA churning and its updates. 
2. If the 1 RUNE is sent to the earlier vault, it will not be read by Maya Nodes, the RUNE will be lost, and the airdrop won’t apply. 

Still have questions?

We are working hard to ensure our launch is perfect, and we're sure the result will be worth it. If you still need more information, don't hesitate to contact us via our Discord Server or check the Maya Protocol documentation, where we regularly post our latest updates. We will be happy to talk to you!!