Elk Finance (ELK)

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:
• From a Fuse blog (13-12-2021):

"Elk Finance can be thought of as a protocol enabling anyone to sell a token on the starting chain and buy its version or another token on the destination chain. Elk Finance is different from most blockchain interoperability protocols in that it does not involve bridging tokens from one blockchain to another in the usual form. The only token that moves between chains is the protocol’s native ELK token."

Audits & Exploits

• Bug bounty program can be found [insert here].

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on:
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From a Fuse blog (13-12-2021):

"A user wishing to exchange a token on one supported chain for a token on another needs to buy ELK on the former, transfer ELK to the latter and obtain the desired asset. All this is done entirely via the Elk Finance protocol that includes decentralized exchanges (DEXes) on each supported chain and the ElkNet Smart Router layer.

Elk DEX is an AMM-based decentralized exchange where people can swap tokens into ELK or other tokens. Liquidity providers on ELK-denominated trading pools are protected by the protocol from major impermanent loss through additional ELK token payments (to be claimed as part of the staking contracts) in case the price of ELK drops drastically."

Interoperability

• Supported blockchains (13-12-2021): OEC, HECO, Binance Smart Chain (BSC),, Fantom, Moonriver, Polygon, Harmony, Avalanche, Elastos, xDAI, KCC, Telos, Cronos, HOO Smart Chain, KuCoin Community Chain, OKExChain.

Roadmap

• Can be found [Insert link here].
• From a Fuse blog (13-12-2021):

"In the future, Elk Finance will introduce a cross-chain Swiss Franc-pegged stablecoin called CHFT. Another important innovation Elk is looking to implement is cross-chain data transfers."

Competition

• How it compares to other projects, from a Fuse blog (13-12-2021):

"According to Elk Finance, this approach to transferring value across chains has two major advantages. First, there is no bridge-induced token fragmentation. Consider that a traditional bridge necessitates the creation of a version of a token native to one chain on another. Each bridge platform will thus tend to create its own wrapper of the original token on the destination chain, which can lead to reduced liquidity, confusion and friction.

Another issue that traditional bridging solutions tend to create is unreliable liquidity. This happens when projects attempt to solve the token fragmentation problem by providing users with the desired version of the token on the destination chain directly instead of leaving them with the bridge-specific wrapper. The functioning of this setup requires that the bridge operator constantly maintains sufficient liquidity on the destination chain side but it is almost bound to cause transaction delays for many users or significant capital inefficiency for the bridge operator."

Team, Funding and Partners

Team

• Full team can be found [here].

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