The much-anticipated ELFi Protocol platform has now gone live on the Arbitrum network, complete with a special $100,000 airdrop event.

Coming to you from Singapore, August 14th, 2024—Chainwire

The launch of the decentralized derivatives trading platform marks a significant step forward in the blockchain ecosystem. ELFi Protocol Today marks the official debut of ELFi on the Arbitrum blockchain, and the platform is designed to deliver a groundbreaking trading experience that stands up against established centralized exchanges (CEX). ELFi introduces a hybrid model featuring Portfolio Margin and virtual Automated Market Maker (vAMM) functionalities on-chain. Moreover, the platform has engineered an ingenious zero-risk stablecoin liquidity pool and robust risk management system tailored for a range of contract risk profiles. Their aim is to effectively cater to market demands and user requirements in areas like risk segregation, asset valuation, and support for Liquidity Staking Derivatives (LSD) assets.

Featured Innovations from ELFi:

Portfolio Margin Mode : This exciting feature empowers users to utilize an assortment of cryptocurrencies as margin collateral, allowing for more adaptive risk management across their diverse asset collections. By enhancing capital efficiency and lowering transaction costs, it also boosts the execution of trading strategies.

• Zero-Risk Stablecoin Liquidity Pool : This innovative on-chain yield mechanism offers lucrative returns when compared to industry standards in DeFi. Participants can deposit stablecoins like USDC or USDT, tapping into potential earnings while steering clear of capital loss linked to market fluctuations.
• High-Yield Coin-Margined Liquidity Pool : This feature presents enticing high-yield opportunities pegged to coin valuations for holders of on-chain assets, creating liquidity pools for prominent cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
• Support for LSD Re-Staking : The forthcoming LSD re-staking feature will enable the re-staking of synthetic assets like stETH, presenting additional yield-generating possibilities.
• In May of this year, ELFi Protocol successfully raised $5 million through two strategic funding rounds, with the latest round led by IDG Capital.

To commemorate their launch, ELFi is holding an event that kicks off with an initial offering. KuCoin Ventures .

Mainnet Launch Limited-Time Event

For every $10 million in trading activity, ELFi will contribute an extra $1,000 to the total prize pool, capped at a predetermined maximum amount. prize pool of $5,000 Users who participated in ELFi's beta test through NFT holdings will be eligible for expedited rewards, and every valid user referral can also earn bonuses, with an acceleration cap of up to 5x. prize pool of $100,000 Engagement through either staking or trading on the ELFi platform will qualify users to claim a share of the prize pool. The distribution will be based on each user's total interaction volume at the conclusion of the event, and the final prize amount will be disclosed after the event ends.

Participants who acquired official ELFi NFTs during the beta phase can look forward to a bonus reward multiplier of 1-2x during the event.

NFT Double Rewards for Beta Users

 This decentralized derivatives trading platform puts considerable emphasis on offering premier trading features. It trailblazes by integrating Portfolio Margin into the P2Pool framework and flaunts a cutting-edge risk management system for various risk categories. Additionally, ELFi showcases novel options, such as zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools. They are committed to fulfilling market demands and user expectations through initiatives aimed at risk management, asset valuation, and support for LST assets.

About ELFi Protocol

ELFi However, it's crucial to remember that the information on this page should not be seen as legal, tax, financial, investment, or any other advisory form. Always invest responsibly, only what you can afford to lose, and consult a financial advisor if you're uncertain. For more detailed information, we encourage you to review the terms and conditions, plus the help and support sections provided by the issuing party or advertiser. MetaversePost aims for accuracy and objectivity in its reporting, but keep in mind that market conditions can fluctuate without prior notification.

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ELFi Protocol