ELFi Protocol, a pioneering decentralized derivatives trading platform, has officially launched on the Arbitrum network today, marking a significant advancement in decentralized finance (DeFi). This new platform is set to challenge traditional centralized exchanges (CEX) by offering a unique trading experience characterized by its cutting-edge technology and user-focused innovations.
Key Innovations:
Portfolio Margin Mode: ELFi introduces a Portfolio Margin feature allowing users to utilize various cryptocurrencies as margin assets. This enhances risk management, optimizes capital efficiency, and lowers trading costs, facilitating more sophisticated trading strategies.
Zero-Risk Stablecoin Liquidity Pool (NASDAQ): This new on-chain yield product provides stable returns compared to industry norms. Users can deposit stablecoins such as USDC or USDT, enjoying potential returns without exposure to market volatility risks.
High-Yield Coin-Margined Liquidity Pool: ELFi also offers high-yield products linked to major cryptocurrencies like BTC and ETH, catering to those seeking on-chain asset gains.
Support for LSD Re-Staking: An upcoming feature will enable the re-staking of synthetic assets, such as stETH, to generate additional yield opportunities.
ELFi’s recent successful funding rounds, totaling $5 million, were led by IDG Capital and KuCoin Ventures, underscoring investor confidence in the platform’s potential.
Mainnet Launch Celebration:
In conjunction with its launch, ELFi is hosting a promotional event featuring a prize pool starting at $5,000. For every $10 million in trading volume, an additional $1,000 will be added, up to a maximum prize pool of $100,000. Participants holding ELFi’s beta test NFTs or referring new users can earn accelerated rewards, with up to 5x acceleration possible.
Users who engage with ELFi through staking or trading will have a chance to share in the prize pool, which will be distributed based on each user’s contribution to the total interaction volume. The final prize pool amount will be announced upon the event’s conclusion.
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