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

Today marks the official launch of ELFi Protocol, a decentralized derivatives trading platform, on the Arbitrum network.

ELFi is a decentralized derivatives trading platform that aims to provide a trading experience on par with centralized exchanges (CEX). It strives to offer a unique and forward-thinking approach to trading. ELFi has successfully implemented a Portfolio Margin and vAMM hybrid model on-chain, making it a groundbreaking achievement.

In addition, the platform has developed a cutting-edge stable coin liquidity pool that eliminates any risk, along with a well-established risk management system for contracts of different levels of risk. The platform aims to enhance its ability to cater to market and user demands in risk isolation, asset pricing, and support for LSD assets.

Revolutionary 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 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 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 made an exciting announcement about its funding. The company successfully completed two strategic funding rounds, raising an impressive $5 million. The most recent funding round was spearheaded by IDG Capital and KuCoin Ventures.

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Mainnet Launch Limited-Time Event

ELFi is hosting an exciting event with an impressive initial prize pool of $5,000 to celebrate the launch. With each $10 million in trading volume, the platform will generously contribute an extra $1,000 to the prize pool, which can reach a maximum of $100,000. ELFi’s beta test NFT holders have the opportunity to earn rewards at a faster pace. Additionally, referring valid users can also lead to accelerated rewards, with a maximum acceleration of 5x.

Those who engage with ELFi through staking or trading can partake in the prize pool. The distribution of the prize pool will depend on the proportion of interaction volume that each user contributes by the end of the event. The amount of the final prize pool will be revealed after the event.

NFT Double Rewards for Beta Users

Participants who acquired the official ELFi NFTs during the beta test can earn an extra 1-2x reward during the event.