Eleven Finance — a cross-chain profitability optimizer and leveraged farming platform. The main goal of the crypto trading platform - to offer a great APY with an optimized fee structure, a dynamic approach to new community driven strategies, while increasing the value of its own $ ELE token.
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Description of the Eleven Finance crypto finance platform
As the world of decentralized finance (defi) grows, so does the search for the best returns. Since the birth of profitability optimization, Yearn Finance, more and more opportunities have been in this area for defi members in search of maximum profit.
Along with this, defi has expanded beyond the Ethereum blockchain, seeing exponential growth on both Binance Smart Chain and Polygon. This has resulted in fast and cheap transactions for the growing number of platform users. In turn, this has led to an explosive growth in the defi protocols on this platform, which has brought with it countless opportunities to increase profitability.
When the user withdraws LP from the platform, a commission of 0.1% is charged from them (for storages with single assets it is 0.2%), in addition, every time the storage is collected, a commission of 2.2–3.49% is charged from any rewards, received under the strategy. The only time users who own LP are subject to any kind of commission - 0.1-0.2% withdrawal fee.
Of all collected fees, it is distributed as follows:
| 1. | 70.83% of them are used for the buyback of ELE. |
| 2. | 4.17% of this amount helps to buy back ELE and distribute it to those, using the ELE single asset repository. |
| 3. |
12.5% of this amount as developer commission. |
| 4. |
12.5% of this amount as controller fee (this is the fee, paid to the bot, that invokes the reward collection function automatically). |
The Eleven Finance platform allows users to lend assets for repayment or borrow funds to gain more opportunities to generate potential farm profits.
ELE token
The ELE token is the native token of the Eleven Finance platform. A significant percentage of platform fees helps to buy back and burn ELEs. In addition, ELE holders who deposit their tokens in the ELE vault get rewards with a portion of the additional ELE, redistributed as a result of the token buyback through fees. You can get more information about the project through a special introductory document. With its help, each new participant can easily learn the rules for using the site.
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