A period of expansion and technical adaptation saw the protocol integrate new ecosystems while navigating critical security maintenance and shifting network metrics.
Closing TVL
$9.9M
10.8% QoQ
Quarter volume
$327.8M
46.8% QoQ
Unique swappers
2.5K
32.1% QoQ
Active interfaces
14
Ecosystem signal
capital
strengthening
Quarter-end TVL versus the prior quarter
usage
strengthening
Majority signal across volume, swaps, and unique swappers
security
softening
Node count and distance from the target bonded ratio
accessibility
softening
Active interfaces and attributed-volume coverage
diversity
strengthening
Interface and pool concentration
Protocol activity
Network work
4.9K
logical swaps this quarter
$304.5K
protocol fees measured
Access layer
38
active validator nodes
Bonded ratio
33.5%
target 67.0%
Active bond
24.7M
CACAO securing the network
The quarter, interpreted
Capital
Maya Protocol ended the quarter with a TVL of $9.9M, marking a 10.8% increase over the prior period. This growth occurred alongside the protocol's third anniversary. Total pooled CACAO reached 49.1M by the quarter's close.
Usage
Quarterly volume rose to $327.8M, a 46.8% increase. While unique swappers grew to 2.5K, logical swaps trended lower to 4.9K. The launch of native Cardano swaps and Dash InstantSend support provided new utility, though daily activity saw intermittent zero-usage periods during security halts.
Security
The network prioritized security following external ecosystem incidents, leading to precautionary halts. Active nodes decreased to 38 from 41, while the bonded ratio of 33.5% remained below the 67.0% target. Technical efforts focused on Bifrost updates and downstreaming critical fixes.
Ecosystem
LeoDex expanded its accessibility through the release of a new desktop application and the integration of Trezor hardware support. Concurrently, Vultisig expanded its existing interface functionality by adding support for node bonding and bonding tracking. Despite these developments, attributed volume coverage declined to 13.1%, while the number of active interfaces remained stable at 14.
Diversity
Interface concentration shifted significantly, with HHI dropping from 3.9K to 1.8K, suggesting a more distributed access layer. Global reach was bolstered by new multilingual interface support and expanded wallet compatibility for hardware and mobile users.
Market
CACAO showed resilience, opening at $0.09 and closing at $0.10, reflecting an 8.1% increase. The asset navigated a quarterly range between $0.09 and $0.37 as the network commemorated the third anniversary of the token's creation.
Protocol TVL grew 10.8% to $9.9M, demonstrating resilience despite operational pauses for security maintenance and TSS patching.
Volume surged 46.8% this quarter, supported by native Cardano and Dash integrations, even as logical swaps saw a -9.1% decline.
Data through July 1, 2026 · Revision 3
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