ELFi Protocol Officially Launches on Arbitrum Network

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).

Singapore, Singapore, 14th August, 2024, Chainwire

Decentralized derivatives trading platform ELFi Protocol has officially launched on Arbitrum today.

Dedicated to creating a unique and advanced trading experience that rivals centralized exchanges (CEX), ELFi is the first to implement a Portfolio Margin and vAMM hybrid model on-chain. The platform has also designed an innovative zero-risk stable coin liquidity pool and a mature risk management system for contracts of various risk levels. ELFi aims to better meet market and user needs in areas such as risk isolation, asset pricing, and support for LSD assets.

Some of ELFi's key innovative features include:

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

Having announced its funding earlier in May this year, ELFi Protocol has now successfully completed two strategic funding rounds for a total of $5 million. The latest round was led by IDG Capital and KuCoin Ventures.

Mainnet Launch Limited-Time Event

To celebrate the launch, ELFi will be 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 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.

About ELFi Protocol

ELFi is a decentralized derivatives trading platform that aims to provide a superior trading experience. It is the first to integrate Portfolio Margin into the P2Pool model and has a mature risk management system for listing contracts of varying risk levels. ELFi also boasts innovative liquidity pool designs, including the industry-first zero-risk stablecoin liquidity pool and LSD re-collateralized liquidity pool. It aims to better meet market and user demands through features such as risk isolation, asset pricing, and support for LSD assets.

Contact

Vicky

ELFi Protocol

[email protected]

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