Elys Network positions itself as a key infrastructure in decentralized finance (DeFi), offering a universal and interoperable liquidity layer within the Cosmos ecosystem. With advanced features, optimized scalability, and security bolstered by ATOM, this project aims to solve current DeFi inefficiencies while providing a seamless and high-performance user experience.
🚀 An Innovative and Secure DeFi Platform
Founded in 2022 by Mitchell Nishimura and Prashant Srivastava, Elys Network aims to redefine the DeFi landscape by introducing innovative solutions such as:
- PerpDEX: A DEX for perpetual trading offering decentralized swaps with leverage secured by advanced oracles.
- Multi-Asset Index Pools: Allowing for diversified investment while mitigating market volatility risks.
- Smart-Shielded Pools: Reducing impermanent loss and optimizing liquidity management through automated mechanisms.
- Interoperability and Scalability: Powered by the Cosmos SDK and IBC, Elys facilitates exchanges between various Web3 and Web2 blockchains.
- Security by ATOM: Integration of ICS 2.0 to ensure network robustness through staking and validation by ATOM.
🤝 An Ecosystem Backed by Investors and Strategic Partnerships
In June 2024, Elys Network raised $2.5 million from renowned investors like Cogitent Ventures, Comma3 Ventures, and Persistence. This funding round enabled the project to bolster its technological development and prepare the launch of its key features.
Additionally, the network established a strategic partnership with Cosmos, incorporating ATOM as the primary token for fees and incentives. This collaboration aims to strengthen ATOM’s liquidity and expand its utility in the DeFi ecosystem.
🌟 Testnet Program and Community Opportunities
To encourage community engagement with its features, Elys launched an incentive-based testnet program called “Odyssey” in March 2024. This nine-phase program rewards participants with test tokens and NFTs in exchange for platform interactions such as trading, staking, and delegating to validators.
🏆 Conclusion
Elys Network emerges as a major player in DeFi innovation, offering advanced solutions to optimize liquidity and secure inter-chain exchanges. With its integration with Cosmos and revolutionary features, the project is positioned as an indispensable reference for investors and developers looking to explore the potential of Web3.
🌐 Elys & Snow-Fall
Snow-Fall hosts an Elys validator node offering substantial ROI, given the project’s youth. Don’t hesitate to delegate your $EDEN and secure passive income.
