Singapore, Singapore, August 14th, 2024,
Chainwire
The decentralized derivatives trading platform, ELFi Protocol, officially launched today on the
Arbitrum network.
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 to implement
a Portfolio Margin and vAMM hybrid model on-chain. Additionally,
the platform has designed an innovative zero-risk stable coin
liquidity pool and a mature risk management system for contracts of
various risk levels. 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, enabling
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: This
on-chain yield product offers returns compared to DeFi industry
rates. Users can deposit stable coins such as USDC or USDT to enjoy
potential returns without the risk of capital loss due to market
volatility.
- High-Yield Coin-Margined Liquidity Pool: This
feature offers potential high-yield products pegged to coin prices
for on-chain asset holders, including liquidity pools for major
cryptocurrencies like BTC and ETH.
- Support for LSD Re-Staking: The upcoming LSD
re-staking feature will allow synthetic assets like stETH to be
re-staked, providing additional yield opportunities.
In May of this year, ELFi Protocol announced its funding,
successfully completing two strategic funding rounds totaling $5
million. The latest round was led by IDG Capital and KuCoin Ventures.
Mainnet Launch Limited-Time Event
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's beta test
NFTs can earn accelerated rewards, and each valid user referral
will also result in accelerated rewards, with the maximum
acceleration being 5x.
Users who interact with ELFi by staking or trading will be
eligible to share 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.
NFT Double 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 delivering top-notch trading
functionalities. It’s the pioneer in supporting Portfolio Margin
within the P2Pool model, and boasts a sophisticated risk management
system for listing contracts of various risk levels. Additionally,
ELFi introduces innovative liquidity pool designs, offering
industry-first zero-risk stablecoin liquidity pools and LSD
re-collateralized liquidity pools. It strives to better meet market
and user demands through features like risk isolation, asset
pricing, and LST asset support..
Contact
Vicky
ELFi
Protocol
business2@elfi.xyz
