Economic overview MT
Last updated
Last updated
We will highlight the differences between $CACAO and $MAYA.
$CACAO tokens power the Maya Protocol ecosystem and provide economic incentives to secure the network because they are required to run Maya nodes. Also, all of our liquidity pools consist of a native token paired against $CACAO, for example, $BTC / $CACAO or $ETH / $CACAO.
Because $CACAO is needed to become a liquidity provider, but their supply is limited to 100M, the more people that would want to participate in our ecosystem, the higher the value of $CACAO tokens has to be. Their economic value would also grow if $CACAO tokens could be used natively and productively in other chains or projects - which we intend to do.
$MAYA tokens perpetually capture 10% of all the fees generated by the users swapping inside our protocol. They are essentially a tokenization of our present and future cash flows, which means, firstly, that the more active our exchange is, the better price they should have, and, secondly, that $MAYA’s token holders are heavily incentivized to see our protocol grow with time. Lastly, and most importantly, $MAYA holders only earn value if Maya’s ecosystem earns 9x as much (and real value, since Maya does not have inflation or other artificial methods to boost APY).
These tokens will be initially held by participants of all levels inside of Maya: our private investors, our development team, our advisors, and our founders. There is also a surprise for early Node Operators, Thorstarter supporters, and $RUNE owners.
Because of its economical design, $MAYA tokens can be treated as some sort of stock or economic participation in our project and are easy to value using traditional P/E and EPS ratios since $MAYA price, our current daily Fee Revenue, and $MAYA’s fixed supply are public in real-time.
P/E = $MAYA last public price / 10% * Annualized Protocol Fee Revenue
EPS = 10% * Annualized Protocol Fee Revenue / 1,000,000
This also means there usually should not be many irrational fluctuations in its price and that $MAYA tokens will also reflect the market’s perceived value of our future cash flows. It is important to mention that $MAYA has no governance rights over Maya Protocol or any other privilege or use aside from collecting 10% of fee revenue.
It is important to note that $MAYA will not be available in Pools on Maya Chain. This means there will be no recursive nature to $MAYA being priced into $CACAO, creating artificially high values for $MAYA back. Additionally, this completely removes $ MAYA's influence on the price of $CACAO. Finally, it makes it less liquid and harder to trade, making its owners more likely to simply hold them to collect fees passively.
