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ELFi Protocol, a DEX Derivatives Platform, Officially Launched with a $100,000 Airdrop Event

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

The post ELFi Protocol, a DEX Derivatives Platform, Officially Launched with a $100,000 Airdrop Event appeared first on Blockonomi.

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