ELFi Protocol Launches on Arbitrum Network

Singapore, Singapore, August 14th, 2024, Chainwire

The decentralized derivatives trading platform, ELFi Protocol, officially launched today on the Arbitrum network.

ELFi is dedicated to creating a unique and forward-looking trading experience that rivals centralized exchanges (CEX). It is the first to implement a Portfolio Margin and vAMM hybrid model on-chain. The platform has designed an innovative zero-risk stablecoin liquidity pool and a mature risk management system for various risk-level contracts. ELFi aims to 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: Users can use various cryptocurrencies as margin assets, enhancing capital efficiency and reducing trading costs.
• Zero-Risk Stablecoin Liquidity Pool (NASDAQ:POOL): An on-chain yield product offering returns with no capital loss from market volatility.
• High-Yield Coin-Margined Liquidity Pool: Provides potential high-yield products pegged to coin prices for liquidity pools of major cryptocurrencies like BTC and ETH.
• Support for LSD Re-Staking: Allows synthetic assets like stETH to be re-staked, providing additional yield opportunities.

In May of this year, ELFi announced successful funding through two strategic rounds totaling $5 million, 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, they will add an additional $1,000 to the prize pool, up to a maximum of $100,000. Users holding ELFi’s beta test NFTs can earn accelerated rewards, and valid user referrals will also yield accelerated rewards, maximally 5x.

Users engaging with ELFi by staking or trading are eligible to share the prize pool, which will be divided based on each user’s interaction volume at the event’s end. The final prize pool amount will be announced after the event.

NFT Double Rewards for Beta Users

Beta users who obtained official ELFi NFTs can receive an additional 1-2x reward during the event.

About ELFi Protocol

ELFi is a decentralized derivatives trading platform focusing on delivering top-notch trading functionalities. As a pioneer in supporting Portfolio Margin within the P2Pool model, it features a sophisticated risk management system for contracts of various risk levels. ELFi integrates innovative liquidity pool designs, offering industry-first zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools to meet market and user demands effectively.

• Twitter: ELFi on Twitter
• Discord: Join ELFi on Discord

Contact
Vicky
ELFi Protocol
business2@elfi.xyz

This article was originally published on Chainwire