ELK Finance

Is a...Cross-chain value exchange is the next battleground for cryptocurrencies and the next major hurdle for adoption. Currently, moving or exchanging tokens across chains is a very painful and expensive process. Elk.Finance aims to make this process easy and intuitive. They aim to be the Forex market for the decentralized economy, providing sub-second value transfers across chains. "Any chain, anytime, anywhere" is our motto. Join us as we embark on this exciting adventure!

The ELK Token

The ELK token is an ERC20-compatible utility token that underpins the Elk.Finance ecosystem. Central to the design of the Elk network is the fact that all liquidity pools pair exchange tokens with ELK. This design decision allows for sub-second transfer of value across chains and provides deeper liquidity for pools, reducing slippage and fees. ELK also doubles as the governance token for the Elk network.

Cross-chain Swaps

Elk.Finance aims to support cross-chain swaps of arbitrary tokens at sub-second speeds. By combining a state-of-the-art liquidity pooling system with a decentralized peer-to-peer network, we can achieve fast, trustless, and cheap swaps across different chains. We believe value transfer across chains will play a large role in the adoption of cryptocurrencies over the coming years. Current solutions to that problem are slow and expensive. Elk.Finance will change that.

Stablecoin

In order to facilitate cross-chain value transfers and payments with minimal risk, Elk.Finance will release a stablecoin called CHFT. Upon release, CHFT will be the first cross-chain stablecoin based on a gyroscopic design.

Yield Farming

Their community has the opportunity to participate in yield farming by providing liquidity pairs to bootstrap the Elk network and locking these pairs in staking contracts. The bulk of ELK tokens will, therefore, be distributed to early adopters of the Elk network. The sooner you join, the larger your rewards will be!

Impermanent Loss Protection

At Elk.Finance, we believe in taking special care of our liquidity providers. In particular, it would not do if a liquidity provider decided to participate in the Elk network and suffered from impermanent loss (IL) as a result.

"Investor" in the network should not walk away with less, ever! Therefore, we are going to implement IL protection for ELK Liquidity Pools. This insurance will take the form of additional ELK token payments (to be claimed as part of the staking contracts) in case the price of ELK drops drastically.

Note that in order to benefit from IL protection, you will need to stake your liquidity pairs!

Supported Chains

they started with the Avalanche blockchain and have also added Polygon (MATIC), Fantom, and Heco , Binance Smart Chain, XDai, and many many more. Ethereum will soon be supported. The reason we started with Avalanche was because we planned for Avalanche to be a little bit more "central" to Elk.Finance than others. Avalanche truly is a chain apart (so to speak) and has a very bright future.