Singapore, Singapore, August 14, 2024, Chainwire
Decentralized derivatives trading platform ELFi Protocol officially launched on the Arbitrum Network today.
ELFi is a decentralized derivatives trading platform dedicated to creating a unique and forward-thinking trading experience that rivals centralized exchanges (CEX). ELFi is the first to implement a hybrid vAMM and portfolio margin model on-chain. In addition, the platform has designed an innovative zero-risk stablecoin liquidity pool and a mature risk management system for multi-risk contracts. The platform strives to better meet market and user needs in areas such as risk isolation, asset pricing, and support for LSD assets.
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 their multi-asset portfolios. It improves capital efficiency, reduces trading costs, and enhances the implementation of trading strategies.
- Zero Risk Stablecoin Liquidity Pool (NASDAQ:):This on-chain yield product offers returns compared to DeFi industry rates. Users can deposit stablecoins such as USDC or USDT to enjoy potential returns without the risk of capital loss due to market volatility.
- High Yield Coin Margin Liquidity Pool:This feature offers potential high-yield products tied to coin prices for on-chain asset holders, including liquidity pools for major cryptocurrencies such as BTC and ETH.
- LSD re-staking support:LSD's upcoming re-staking feature will allow synthetic assets like stETH to be re-staked, providing additional yield opportunities.
In May this year, ELFi Protocol announced its funding and successfully completed two strategic funding rounds totaling $5 million. The latest round was led by IDG Capital and KuCoin Ventures.
Limited-time event for the mainnet launch
To celebrate the launch, ELFi is hosting an event with an initial prize pool of $5,000. For every $10 million in trading volume, the platform will add an additional $1,000 to the prize pool, with a maximum prize pool of $100,000. Users holding ELFi beta test NFTs can earn accelerated rewards, and each valid user referral will also result in accelerated rewards, with a maximum acceleration of 5x.
Users who engage with ELFi through staking or trading will be able to share in the prize pool. The prize pool will be divided based on 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.
Double NFT rewards for beta users
Users who obtained the official ELFi NFTs during the beta test can receive an additional 1-2x reward during the event
About ELFi Protocol
ELFi is a decentralized derivatives trading platform that focuses on offering top-tier trading functionalities. It pioneers Portfolio Margin support within the P2Pool model and features a sophisticated risk management system for listing contracts of various risk levels. Additionally, ELFi introduces innovative liquidity pool designs, offering the industry’s first zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools. It strives to better meet market and user demands through features such as risk isolation, asset pricing, and LST asset support.
- Twitter: https://x.com/ELFi_xyz
- Discord: https://discord.com/invite/PzDTteSZDt
ContactVickyELFi Protocol[email protected]
This article was originally published on Chainwire
