Original author: Chainwire
原文标题：ELFi Protocol, a DEX Derivatives Platform, Officially Launched with a $100,000 Airdrop Event
Original source: Decrypt
Compiled by: Koala, Mars Finance
The decentralized derivatives trading platform ELFi Protocol officially launched on the Arbitrum network today.
In May this year, ELFi Protocol announced the successful completion of two rounds of strategic financing, raising a total of US$5 million. The latest round of financing was led by IDG Capital and KuCoin Ventures.
ELFi is a decentralized derivatives trading platform dedicated to creating a unique and forward-looking trading experience, aiming to compete with centralized exchanges (CEX). ELFi has implemented a hybrid model of combined margin and vAMM on-chain for the first time. In addition, the platform has designed an innovative zero-risk stablecoin liquidity pool and established a comprehensive risk management system for contracts with different risk levels. ELFi is committed to better meeting the needs of the market and users in terms of risk isolation, asset pricing, and support for LSD assets.
Innovative features introduced by ELFi
1. Combined margin mode: This feature allows users to use multiple cryptocurrencies as margin assets to achieve more flexible risk hedging in a multi-asset portfolio. It improves capital efficiency, reduces transaction costs, and enhances the implementation effect of trading strategies.
2. Zero-risk stablecoin liquidity pool: This is an on-chain yield product that provides returns comparable to interest rates within the DeFi industry. Users can deposit stablecoins such as USDC or USDT and enjoy potential returns without the risk of capital loss due to market fluctuations.
3. High-yield coin-based liquidity pool: This feature provides on-chain asset holders with potential high-yield products linked to coin prices, including liquidity pools for major cryptocurrencies such as BTC and ETH.
4. Support LSD re-staking: The upcoming LSD re-staking function will allow synthetic assets like stETH to be re-staking, providing additional income opportunities.
Mainnet launch limited time event
To celebrate the launch of the mainnet, ELFi is holding an event with an initial prize pool of $5,000. Every time the trading volume increases by $10 million, the platform will add $1,000 to the prize pool, with a maximum prize pool of $100,000. Users who hold ELFi beta NFTs can receive acceleration rewards, and each referral of a valid user can also receive acceleration rewards, with a maximum acceleration rate of 5 times.
Users who stake or trade with ELFi will be eligible to share in the prize pool. The prize pool will be distributed based on each user’s total engagement at the end of the event. The final prize pool amount will be announced at the end of the event.
Double NFT rewards for beta users
Users who obtain official ELFi NFTs during the testing period can receive an additional 1-2 times reward during the event.
About ELFi Protocol
ELFi is a decentralized derivatives trading platform focused on providing top-level trading capabilities. It is the first to support portfolio margin in the P2Pool model and has a comprehensive risk management system for listing contracts of different risk levels. In addition, ELFi has introduced an innovative liquidity pool design, providing the industry's first zero-risk stablecoin liquidity pool and LSD re-collateralization liquidity pool. Through risk isolation, asset pricing, and LST asset support, ELFi is committed to better meeting the needs of the market and users.