Singapore, Singapore, 14 August 2024, Chainwire
The decentralized derivatives buying and selling platform, ELFi Protocol, has formally launched right now on the Arbitrum community.
ELFi is a decentralized derivatives buying and selling platform devoted to creating a singular and forward-looking buying and selling expertise that competes with centralized exchanges (CEX). ELFi is the primary to implement a hybrid portfolio mannequin and vAMM on chain. As well as, the platform has designed an revolutionary zero-risk secure coin liquidity pool and a complicated threat administration system for contracts with totally different threat ranges. The platform seeks to raised meet market and person wants in areas reminiscent of threat isolation, asset pricing and LSD asset assist.
Revolutionary options launched by ELFi:
- Portfolio unfold mode: This function permits customers to make use of totally different cryptocurrencies as margin belongings, permitting for extra versatile hedging inside their multi-asset portfolios. It improves capital effectivity, reduces buying and selling prices and improves the implementation of buying and selling methods.
- Zero Danger Liquidity Stablecoin Fund (NASDAQ:): This on-chain return product provides returns corresponding to DeFi trade charges. Customers can deposit stablecoins reminiscent of USDC or USDT and revel in potential returns with out the chance of shedding capital because of market volatility.
- Liquid excessive yield coin fund: This function provides potential high-yield merchandise tied to coin costs for on-chain asset holders, together with liquidity swimming pools for main cryptocurrencies reminiscent of BTC and ETH.
- Help for LSD Re-Staking: LSD's upcoming re-staking function will enable re-staking of artificial belongings reminiscent of stETH, offering extra income alternatives.
In Could of this 12 months, ELFi Protocol introduced its funding and efficiently accomplished two strategic funding rounds totaling $5 million. The final spherical was led by IDG Capital and KuCoin Ventures.
Timed Mainnet launch occasion
To rejoice the launch, ELFi is internet hosting an occasion with an preliminary prize pool of $5,000. For each $10 million in buying and selling quantity, the platform provides a further $1,000 to the prize pool, with a most win of $100,000. Customers holding beta testing NFTs from ELFi can earn accelerated rewards, and every legitimate person referral can even end in accelerated rewards, with a most acceleration of 5x.
Customers who work together with ELFi by way of betting or buying and selling will likely be eligible to share the prize pool. The prize pool will likely be distributed based mostly on every person's share of the entire interplay quantity on the finish of the occasion. The ultimate quantity of the prize pool will likely be introduced on the finish of the occasion.
Double NFT rewards for beta customers
Customers who obtained official ELFi NFT through the beta check can obtain a further 1-2x reward through the occasion
In regards to the ELFi protocol
ELFi is a decentralized derivatives buying and selling platform that focuses on offering cutting-edge buying and selling performance. It’s a pioneer in supporting Portfolio Margin throughout the P2Pool mannequin and boasts a classy threat administration system for itemizing contracts of assorted threat ranges. As well as, ELFi is introducing revolutionary liquidity pool designs which might be the primary within the trade to supply zero-risk stablecoin liquidity swimming pools and LSD-backed liquidity swimming pools. It seeks to raised meet market and person calls for by way of options reminiscent of threat isolation, asset pricing and LST asset assist.
- Twitter: https://x.com/ELFi_xyz
- Discord: https://discord.com/invite/PzDTteSZDt
ContactVickyELFi protocolbusiness2@elfi.xyz
This text was initially revealed on Chainwire
