TVL > 100K
What is ElkFinance (Elk)?
Elk Finance is a DeFi project that is developing its own decentralized network to solve the problem of cross-chain liquidity. What does it mean? Elk Finance is designing a multi-chain network. It is nothing more than a protocol with the name ElkNet. This project forms the whole ecosystem for the purpose of exchanging cryptocurrencies across different blockchains, eliminating the need to use existing bridges. So the user doesn't have to remember which network he is on anymore. So a part of Elk's slogan "Any Chain" appeared. The first in a number of supported chains was Avalanche. This chain was chosen because the team was convinced that this network would be given special status, which never happened. The next was Polygon. So far, the project supports 15 chains, including, besides the aforementioned, Fantom, Huobi Eco Chain, Gnosis (xDai), Binance Smart Chain, Harmony One, KuCoin Community Chain, OKEx Chain, Hoo Smart Chain, Elastos EVM Chain, Moonriver Chain, Cronos Chain, Fuse Chain, IoTeX Chain. There is no doubt that the list will be expanded.
Who are the founders of ElkFinance (Elk)?
What makes ElkFinance (Elk) unique?
While bridges are an expensive and low-speed solution for transactions between chains, the Elk Finance project aims to create a decentralized and easily managed solution that is fast and efficient with the ability to be used continuously rather than one-time. Moreover, the ElkNet framework also allows developers to present and construct new cross-chain applications. Elk Finance issues its own tokens. ELK is an ERC20-compliant token that is at the core of the ecosystem and network. It is used, among other things, in paired exchanges in pools to transfer value across chains, as well as the governance token. Moose NFTs is a non-fungible token with special abilities and native to the Elk Finance ecosystem. The project was launched in March 2021. But Elk Finance never stops advancing and constantly brings new features to the forefront. The plans for the future include ElkNet proxy token update, issuing the cross-chain stablecoin, using cross-chain liquidity pools, constant chain expansion, and other things.
Get crypto analysis, news, and updates. Join our friendly crypto community and stay up to dateJoin now