Singapore, Singapore, August 14, 2024, Chainwire
The ELFi protocol, a decentralized derivatives trading platform, has officially launched on the Arbitrum network today.
ELFi is a decentralized derivatives trading platform dedicated to creating a unique and forward-looking trading experience that rivals centralized exchanges (CEX). ELFi is the first platform to implement portfolio margin and vAMM hybrid models on-chain. The platform also designed an innovative risk-free stablecoin liquidity pool and a mature risk management system for contracts of various risk levels. The platform strives to better meet the needs of the market and users in areas such as risk segregation, asset pricing, and LSD asset support.
Innovative features introduced by ELFi:
- Portfolio Margin Mode: This feature allows users to use various cryptocurrencies as margin assets, allowing for more flexible risk hedging within a multi-asset portfolio. It improves capital efficiency, reduces transaction costs, and enhances the implementation of trading strategies.
- Zero Risk Stablecoin Liquidity Pool: This on-chain yield product offers yields comparable to DeFi industry rates. Users can deposit stablecoins such as USDC or USDT to enjoy potential yields without the risk of capital loss due to market volatility.
- High Yield Coin Margin Liquidity Pool: This feature provides on-chain asset holders with a potential high-yield product pegged to the coin price, including liquidity pools for major cryptocurrencies such as BTC and ETH.
- LSD re-staking support: The upcoming LSD re-staking feature will allow you to re-stake synthetic assets like stETH, providing additional yield opportunities.
In May of this year, ELFi Protocol announced funding, successfully completing two strategic funding rounds totaling $5 million, with the latest round led by IDG Capital and KuCoin Ventures.
Mainnet Launch Limited Event
To celebrate the launch, ELFi will hold an event with an initial prize pool of $5,000. For every $10 million in trading volume, the platform will add $1,000 to the prize pool, up to a maximum of $100,000. Users who own ELFi’s beta test NFTs will be eligible for acceleration rewards, and each valid user referral will bring acceleration rewards, with a maximum acceleration of 5x.
Users who interact with ELFi through staking or trading are eligible to share in the prize pool. The prize pool is divided according to each user’s share of the total interaction volume at the end of the event. The final prize pool amount will be announced at the end of the event.
NFT Double Rewards for Beta Users
Users who acquire official ELFi NFTs during the beta test period will receive additional 1-2x rewards during the event period.
About the ELFi Protocol
ELFi is a decentralized derivatives trading platform focused on providing top-notch trading features. It is a pioneer in supporting portfolio margin within the P2Pool model and boasts a sophisticated risk management system for listing contracts of various risk levels. ELFi also introduces an innovative liquidity pool design, offering the industry’s first risk-free stablecoin liquidity pool and LSD re-collateralized liquidity pool. With features such as risk segregation, asset pricing, and LST asset support, it strives to better meet the needs of the market and users.
Contact
Vicky
ELFi Protocol
(email protected)