AtlasProtocol economics
Atlas/Maya Protocol
Cross-chain DEX · CACAO / MAYA

Maya Protocol

A dual-token model separates network utility from direct revenue rights.

Fees paid by users · 30dDerived
$59.1K

Official Midgard liquidity fees converted from 10-decimal CACAO at the endpoint's period price.

Gross protocol income · 30dNot available
Not available

The retained snapshot does not isolate protocol-controlled income from participant earnings and the MAYA distribution.

Token-holder value · 30dNot available
Not available

Official docs specify MAYA's 10% right, but the retained API response does not identify the 30-day payout field separately.

Incentives / emissions · 30dSource conflict
Not available

The window reports negative block rewards of about $11.8K while docs describe dynamic inflation under stressed liquidity. This cannot be labeled a conventional incentive expense without deeper reconciliation.

Money flow

Follow $100 of documented protocol revenue

MAYA holders receive one dollar for each nine dollars earned by nodes and LPs. The participant share is then governed by Maya's security-and-liquidity incentive mechanism.

$100The protocol's documented 9-to-1 participant/MAYA rule
90% · Nodes + liquidity providers

Dynamic Node Exclusive Rewards and Liquidity Rewards

Curated rule
10% · MAYA holders

CACAO distributed to MAYA holders

Curated rule

Read before comparing: The 90% node/LP internal split is dynamic. The rule is documented, but this snapshot does not independently reconcile $10 of observed payouts for every $100 of measured fees.

Normalized statement

The same questions,
even when answers differ.

“Not available” is a result, not a blank. Atlas refuses to convert missing costs or conflicting emissions into a zero.

Economic line30-day valueEvidenceInterpretation
Fees paid by users (30d)$59.1KDerived

Official Midgard liquidity fees converted from 10-decimal CACAO at the endpoint's period price.

Gross protocol income (30d)Not availableNot available

The retained snapshot does not isolate protocol-controlled income from participant earnings and the MAYA distribution.

Net protocol revenue (30d)Not availableNot available

Gas subsidies and other direct costs are not reconciled into a USD net-revenue statement.

Token-holder value (30d)Not availableNot available

Official docs specify MAYA's 10% right, but the retained API response does not identify the 30-day payout field separately.

Liquidity-provider income (30d)$26KDerived

Official Midgard liquidity earnings converted from CACAO to USD.

Validator / node income (30d)$21.3KDerived

Official Midgard bonding earnings converted from CACAO to USD.

Incentives and emissions (30d)Not availableSource conflict

The window reports negative block rewards of about $11.8K while docs describe dynamic inflation under stressed liquidity. This cannot be labeled a conventional incentive expense without deeper reconciliation.

Treasury income (30d)Not availableNot available

Network fees enter a reserve, but the matching inflow and gas-subsidy outflow are not reconciled here.

Accounting-style profit (30d)Not availableNot available

Contributor and operating expenses are not public on a matching basis.

DEX volume (30d)$77.2MDerived

Official Midgard totalVolumeUSD is reported in cents for this endpoint response.

Liquidity / TVL$12.1MDerived

Two-sided pool value derived from total pooled CACAO and the period CACAO price.

Token value capture

Direct revenue share for MAYA; settlement, security, and liquidity demand for CACAO

MAYA is a fixed-supply revenue token with a documented 10% protocol-revenue right. CACAO captures utility demand through pools, node security, fees, and incentives rather than the same direct claim.

Do not overstate it: MAYA is intentionally less liquid and does not represent the same risk or rights as CACAO. A documented percentage is not proof of complete or timely payout execution.
SustainabilityMixed funding

What keeps it working?

Fees funded roughly $59.1K over the retained window, while LP and node earnings totaled about $47.3K after negative block rewards. The direct MAYA claim is clear in documentation, but the payout and reserve reconciliation is incomplete.

Participants

Who provides what—and takes which risk?

Swappers

Receives
Native cross-chain execution
Provides
Liquidity, network, affiliate, and chain gas fees
Key risk
Slip-based fees vary with pool depth and order size.

Liquidity providers

Receives
Liquidity Rewards from fees and system rewards
Provides
CACAO-paired native liquidity
Key risk
Asset volatility, pool rebalancing, and protocol risk.

Liquidity nodes

Receives
Liquidity Rewards plus Node Exclusive Rewards
Provides
Bonded liquidity, infrastructure, and network security
Key risk
Operational cost, slash points, and capital exposure.

MAYA holders

Receives
10% documented revenue share paid in CACAO
Provides
Long-term alignment and historical project funding
Key risk
Illiquidity, payout variability, concentration, and protocol survival.
Governance surface

Which levers move the money?

Parameters matter because recipient outcomes can change while the headline fee or volume looks unchanged.

Model a change
01

Pool share factor

0.55 in the 2026-07-15 Midgard network snapshot

Changes the relative pool-versus-bond reward allocation.

Protocol parameters and network software
02

Fee parameters

Slip-based liquidity fee plus chain-specific network fees

Changes trader cost, LP fee production, and reserve funding.

Protocol parameters
Assessment

Strengths, dependencies, unknowns.

Strengths

  • Real native swap demand is observable through the official API.
  • LP and node earnings are independently exposed by Midgard.
  • The two-token design makes the revenue right explicit.

Dependencies

  • Sufficient liquidity to keep slip competitive.
  • CACAO value and bonded liquidity sufficient for security.
  • Reliable conversion and distribution of the MAYA share.

Still unknown

  • Observed 30-day MAYA holder payout.
  • Full reserve inflows, gas subsidies, and operating costs.
  • How the negative block-reward window should be interpreted economically.
Model history

The rules changed.
The chart should remember.

Dual-token rights remain separate

CACAO serves liquidity, security, and incentive functions, while MAYA retains the documented 10% revenue right.

Official 30-day snapshot retained

Maya Midgard exposed fee, LP earning, bonding earning, volume, pool, and block-reward fields used in this page.

Source ledger

Trace the claim.

Rules come from protocol documentation or governance. Amounts come from official APIs or inspectable open adapters. Each has a different job.

03
Liquidity nodes

Maya Protocol · Official docs

Node Exclusive Rewards · Liquidity Rewards · dynamic split
04
MAYANode overview

Maya Protocol · Official docs

node rewards · dynamic inflation · operating cost range
05
Maya Protocol fees

Maya Protocol · Official docs

network fees · affiliate fees · destination deduction