The Good Tech Companies - ELFi Protocol, a DEX Derivatives Platform, Officially Launched With a $100,000 Airdrop Event

Episode Date: August 15, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/elfi-protocol-a-dex-derivatives-platform-officially-launched-with-a-$100000-airdrop-event. ELFi is the first to implement a Portfolio Margin and vAMM hybrid model on-chain. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #elfi-protocol, #chainwire, #press-release, #elfi-protocol-announcement, #crypto-exchange, #crypto-derivatives-trading, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. ELFi is a decentralized derivatives trading platform dedicated to creating a unique and forward-looking trading experience. ELFi is the first to implement a Portfolio Margin and vAMM hybrid model on-chain. The platform strives to better meet market and user needs in areas such as risk isolation, asset pricing, and support for LSD assets.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Elfie Protocol, a DEX derivatives platform, officially launched with a $100,000 airdrop event by Chainwire. Singapore, Singapore, August 14, 2024, Chainwired, the decentralized derivatives trading platform, Elfie Protocol, officially launched today on the Arbitrum network. Elfie is a decentralized derivatives trading platform dedicated to creating a unique and forward-looking trading experience that rivals centralized exchanges, CEX. Elphi is the first to implement a portfolio margin and VAM hybrid model and chain. Additionally, the platform has designed an innovative zero-risk stable coin liquidity

pool and a mature risk management system for contracts of various risk levels. The platform strives to better meet market and user needs in areas such as risk isolation, asset pricing, and support for LSD assets. Innovative features introduced by Elfie. Portfolio margin mode. This feature allows users to use various cryptocurrency Aces 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 stable coins such as USDC Orist to enjoy potential returns without the risk of capital loss due to market volatility. High-Yield Coin Margin 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 restaking. The upcoming LSD restaking feature will allow synthetic assets Likest ETH to be restate, providing additional yield opportunities. In May of this year, Elphi Protocol announced its funding, successfully completing two strategic funding rounds totaling $5 million. The latest round was led by IDG

Capital and KuCoin Ventures. Main at launch limited time event to celebrate the launch, Elfie is 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, with a maximum prize pool of $100,000. Users holding Elfie's beta test NFTs can earn accelerated rewards, and each Validus or referral will also result in accelerated rewards, with the maximum acceleration being 5x. Users who interact with Elfie 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. 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. NFT double rewards for Beta USERS users who obtained the official Elfie NFTs during the beta test can receive an additional 1 to 2x reward during the event. About Elfie Protocol LFI is a decentralized derivatives trading platform that focuses on delivering top-notch trading functionalities. It's the pioneer in supporting portfolio margin within the P2 pool model and boasts a sophisticated risk management system for listing contracts of various risk levels. Additionally, Elfie introduces innovative liquidity pool designs, offering industry-first zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools.

It strives to better meet market and user demands through features like risk isolation, asset pricing, and LST asset support. Twitter Discord Contact Vicky ELFI Protocol Business 2 at Elfie.zi Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.