- Elk Finance links
- What is Elk Finance?
- Elk Finance Tokens
- Elk Finance Tokenomics
In this Elk Finance review, you’ll learn pretty much everything there is to know about the up-and-coming cross-chain DEX.
Native to Avalanche, but now spanning multiple chains, the future looks seriously bright for Elk.
Here are the main links for Elk Finance. Join their community, they’re a great bunch of people, and you’ll learn a lot there.
What is Elk Finance?
Elk Finance is a cross-chain liquidity network. They are on the following networks already:
Elk Finance will integrate both Binance Smart Chain and Ethereum.
- Decentralized Exchange.
- Cross-chain liquidity network.
- Launching a mainnet.
- Headed by an extremely strong team.
If you prefer watching videos, you can check out the Elk Finance review video below.
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Elk Finance operates a decentralized exchange. Similar to the links of Pangolin, UniSwap, SushiSwap. Familiarize yourself with Decentralized Cryptocurrency exchanges.
Front-end has a familiar Uniswap V2 feel. There will be updates to this soon. With their own custom UI being built behind the scenes.
Supports coins on all connected chains. Elk is currently running on the Avalanche C-Chain, Polygon Matic, and Fantom. But they’re developing interoperability with ETH & BSC too.
Cross-Chain Liquidity Network
What is a “cross-chain liquidity network”
They are the middleman between blockchains. Allowing liquidity (money, value, crypto) to flow between networks.
Let’s break down why this is needed.
Solving the “compatibility problem”
There is a major problem in the crypto world. There are many blockchain networks. And they aren’t all compatible.
Many are working to be more interoperable. “Wrapping” tokens is a common approach. Locking the coin/token on one network, and minting a new version on the other network.
Elk Finance makes it easy to transfer value across blockchains.
Elk will grow to become a core intersection of the “Internet of Blockchains”. Lucrative for early adopters.
Solving the “liquidity problem”
When we’re talking Liquidity, we’re talking liquid assets. Money. Currencies. Skrilla.
Blockchains can struggle to build liquidity. It is often “trapped” on one chain.
Unless you go through a centralized exchange, like Kucoin or Binance, it’s difficult to trade one token for another.
Centralized exchanges are fine for most traders. But this can cause problems. Like damages from centralized intervention, for example, you’re operating a business and the exchange freezes a crucial transaction.
Elk Finance is catalyzing the liquidity flow between ecosystems. There are huge amounts of liquidity on the big networks. BSC. ETH. Elk will diffuse the liquidity into the smaller, growing ecosystems. Avalanche. Matic. Fantom. And many more.
The ELK token facilitates this. They’re also building a stable coin. Pegged to the Swiss Franc (CHF). A great currency to peg price to.
Elk finance supports these networks.
- Avalanche — Highly-scalable, robust, decentralized, 5000tps fast, eco-sustainable.
- Polygon/Matic — High-speed layer-2. Again, insanely fast.
- Fantom — Huge potential. Blazing fast. Incredibly cheap. Pushed by billionaires.
- BSC (coming soon) — Fast, huge liquidity, accessible.
- ETH (coming soon) — You know what Ethereum is, the mother of all smart contract-enabled blockchains.
Elk Finance Tokens
There are a few different Elk Finance tokens.
- ELK token (native to Elk and the future main-net, used for cross-chain value transfer.)
- CHFT token (stable coin, again enabling cross-chain stable transfer)
- Moose NFTs (non-fungible tokens; required for people to run validator nodes, and gives some cool rewards.)
There are two main uses for the Elk token.
The main token of the Elk Finance ecosystem. Used to farm more Elk. Transfers value between chains.
Impermanent loss protection. Elk Finance mints Elk to compensate liquidity providers. As impermanent loss is realized, more Elk is minted to offset damages.
Swiss Franc stable-coin. Most stable coins are pegged to the US dollar. Through various mechanisms and computation. Elk is innovating on this fact. They are creating a CHFT stable coin. CHF is a strong currency. It’s valued at more than the dollar. And it’s probably a better store of value, given the recent US Federal Reserve printing spree.
Cross-chain. This is an awesome factor. Like USDT — USD Tether. The Elk CHFT will be cross-chain interoperable. This, not only makes it widely adoptable. But, further cements their potential for being a key player in crypto-forex. A potentially ma-hoo-sive market.
- Limited supply NFT. If you’re unsure what an NFT is. It’s a non-fungible token. You can learn more about NFTs in our What is an NFT article. To keep it sweet: they are limited, unique, crypto tokens. Which special powers.
- Required for running network nodes. When Elk finishes their main-net, node operators must stake an Elk NFT. Node operators will process transactions. And, probably get rewards for doing so.
- Released on special events. So far, the moose NFTs have been released when new chains come in.
Moose NFT tiers
- Legendary moose. Aka. Ralph. There’s only one, and he’s passed around to boost farming rewards.
- Epic moose. There are only 9 on the Avalanche chain at the moment.
- Rare moose. There are only 30 on the Avalanche chain.
- Uncommon moose. There are only 60 on Avalanche chain.
You can follow any updates to the Moose NFTs on the Elk Finance docs.
Elk Finance Tokenomics
- Elk token max supply: 42.4m ELK. This is the cap for the time being. Though, the distribution will happen gradually. Through farming, community fund, chain releases.
- Initial Supply per chain: 4m ELK. To provide liquidity for each blockchain. As they become available.
- Elk community fund: 20m ELK. This is a community fund that is voted on. The spending will be decided democratically. Will be used to improve, promote and direct Elk.
- Impermanent loss protection fund: 10m ELK. We discussed this previously. When farming, Elk insures against impermanent loss. This fund is rewarded to people incurring it.
- Team & advisors: 2m ELK. It is only right that Elk contributors get a fair share of the pie. This will incentivize their continued involvement. And grant opportunities to those working for the betterment of the community.
- Elk Airdrops: 424k ELK.