- ELFi Protocol Launch on Arbitrum Network
- Innovative Features Introduced by ELFi
- Funding and Mainnet Events
Today, the decentralized derivatives trading platform ELFi Protocol officially launched on the Arbitrum network, introducing a wide range of innovative features.
ELFi Protocol Launch on Arbitrum Network
The ELFi Protocol is a decentralized derivatives trading platform dedicated to creating a unique trading experience that rivals centralized exchanges (CEX). ELFi is the first platform to implement a Portfolio Margin and vAMM hybrid model on-chain. Additionally, the platform has designed an innovative zero-risk stablecoin liquidity pool and a mature risk management system for contracts of various risk levels.
Innovative Features Introduced by ELFi
ELFi Protocol introduces several innovative features: * **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 comparable to DeFi industry rates. Users can deposit stablecoins 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 feature will allow synthetic assets like stETH to be re-staked, providing additional yield opportunities.
Funding and Mainnet Events
In May of this year, ELFi Protocol announced the completion of two strategic funding rounds totaling $5 million. The latest round was led by IDG Capital and KuCoin Ventures. To celebrate the mainnet 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, up to a maximum of $100,000. Users engaging with ELFi via staking or trading will be eligible to share the prize pool, which will be distributed based on each user’s share of total interaction volume at the event's end. Users who obtained official ELFi NFTs during the beta test can receive additional rewards of 1-2x during the event.
The launch of the ELFi Protocol on the Arbitrum network opens up new opportunities for users, providing innovative features and solutions for decentralized derivatives trading. The platform aims to better meet market and user needs in areas such as risk isolation, asset pricing, and LSD asset support.
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