ELFi Protocol launches liquidation subsidy, launches DOGS and Polymarket 20x contracts

[PRESS RELEASE – Singapore, Singapore, August 28th, 2024]

Decentralized derivatives buying and selling platform Very low frequency The protocol lately launched liquidation grant scheme. Earlier than 0:00 on September 15, 2024, customers who conduct contract transactions on the ELFi protocol and have a cumulative transaction quantity of at least 1,000 USDC equal shall be eligible to obtain an preliminary subsidy of as much as 100 USDC – time liquidation loss. This subsidy plan is applied on a first-come, first-served foundation till the whole subsidy of fifty,000 USDC is used up.

As well as, the ELFi protocol additionally introduces $DOGS Contractand the Polymarket contract $Trump winswhich permits customers to foretell whether or not Donald Trump will win the US presidential election. These newly launched contracts help lengthy and brief positions with a most leverage of 20x.

To rejoice the profitable launch of the ELFi protocol on Arbitrum, ELFi has additionally launched a group occasion. ELFi NFT holders will obtain accelerated rewards, as much as 100,000 USDC, and so on. This exercise is at the moment in full swing, with many customers taking part.

Concerning the ELFi protocol

Very low frequency It’s a decentralized derivatives buying and selling platform that focuses on offering first-class buying and selling capabilities. It’s a pioneer in supporting portfolio margining within the P2Pool mannequin and has a classy threat administration system that can be utilized to record contracts with varied threat ranges. As well as, ELFi has additionally launched an progressive liquidity pool design, offering the trade’s first zero-risk stablecoin liquidity pool and LSD re-mortgage liquidity pool. By means of capabilities equivalent to threat isolation, asset pricing, and LST asset help, it could possibly higher meet the wants of the market and customers. In Could this 12 months, ELFi Protocol introduced financing and efficiently accomplished two rounds of strategic financing totaling US$5 million. The newest spherical of financing was led by IDG Capital. KuCoin Ventures.