Singapore, Singapore, August 14, 2024, Chainwire
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 future-oriented trading experience that rivals centralized exchanges (CEXs). ELFi is the first to implement a hybrid model of wallet margin and vAMM on-chain. In addition, the platform has designed an innovative zero-risk stablecoin liquidity pool and a mature risk management system for contracts of different risk levels. The platform strives to better meet the needs of the market and users 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 improves the implementation of trading strategies.
- Zero-risk stablecoin liquidity pool:This on-chain yield product offers yields relative to DeFi sector 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 offers potentially 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:LSD’s upcoming re-staking feature will allow re-staking of synthetic assets like stETH, providing additional yield opportunities.
In May of this year, ELFi Protocol announced its funding, successfully closing 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 able 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.
Double NFT Reward for Beta Users
Users who obtained official ELFi NFTs during the beta test can receive an additional 1-2x reward during the event
About the ELFi protocol
ELFi is a decentralized derivatives trading platform that focuses on providing top-notch trading features. It pioneered the support of portfolio margining in the P2Pool model and has a sophisticated risk management system for quoting contracts of different risk levels. In addition, ELFi introduces innovative liquidity pool designs, offering zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools, the first in the industry. It strives to better meet market and user demands through features such as risk isolation, asset pricing, and LST asset support.
Contact
Vicky
ELFi protocol
business2@elfi.xyz
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