Elys Network Network, How to Claim Elys Network Airdrop, Elys Network Testnet Airdrop, How to Join Elys Network Testnet Airdrop
Elys Network Testnet Airdrop| On This Page You’re Going To Know How To Claim Elys Network Testnet Airdrop.
Contents
Elys is a fast layer 1 blockchain built in the Cosmos ecosystem supporting a decentralized suite of financial applications.
Cutting edge integration for a seamless onboarding experience for non crypto-native users.
A non-custodial Automated Market Maker (AMM) style Decentralized Exchange (DEX) powered by liquidity providers & liquidity pools.
Oracle based multi-asset Index pools which increase diversification and reduce volatility.
Native perpetual trading capabilities including a universal cross collateral vault.
Leverage LP with access to borrowing on margin to maximize rewards while providing liquidity
Native bridging capabilities to Ethereum Virtual Machine (EVM) chains & Inter-Blockchain Communication (IBC) enabled blockchains, for optimal UX and value capture.
On/Off ramps for major fiat currencies.
Elys Network might airdrop free Elys tokens for interacting on their Testnet.
Just follow the simple steps below
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Link in the video: https://elys.bonusblock.io/
There are various tokens within the Elys ecosystem, and each serve a unique purpose:
ELYS is the staking & governance token of ELYS Network. The goal of ELYS is to be a sustainable and scarce token with relatively low maximum supply and low liquid supply, while allowing users who deploy it to earn both inflationary and non-inflationary rewards. Over time as the ecosystem grows and earns substantial revenues, ELYS would become deflationary via a burn mechanism.
Liquidity Providers (LP) will have a choice to either receive a Pool Token or a Molecule Token. Pool Tokens are standard liquidity tokens assigned to a particular AMM pool ( eg. EVMOS:USDC, ELYS:USDC, JUNO:USDC etc). On the other hand, Molecule Tokens are liquidity tokens assigned to a specified multi-asset Index (ATOM, ETH, wBTC, USDC etc) within a certain sector, irrespective of the asset in which initial liquidity is provided.
EDEN is a vesting ‘inflationary reward’ token that is earned by both stakers & liquidity providers. EDEN is, for all intents and purposes, another token of the network and can be “committed” to earn extra rewards. Further details can be found here.
EDEN-Boost is a multiplier token that is earned while ELYS is ‘staked’ or EDEN is ‘committed’. Its purpose is to reward long-term users. Further details can be found
A core feature of Elys is the revenue sharing model. Under this model, non-inflationary system revenue earned by the network will be distributed among liquidity providers, validators, & delegators of the ELYS Network.
Perpetual Trading Fees
Margin Interest Fees
Swap Fees
Transaction Fees
Styx (Cross Chain Omni Bridge) Fees
MEV (Maximum Extractable Value)
Stakers/Delegators: 30%
Liquidity Providers: 60%
Elys Protocol: 10%
This revenue sharing model preserves value by yielding non-inflationary revenue to users in USDC. Once claimed by stakers/delegators and liquidity providers, earned USDC will be immediately liquid.
Innovating DeFi for all; Built for the future
Elys is built on the principles of sustainability that will ultimately shape the new era of DeFi. The platform will generate non-inflationary yield from multiple sources, which will be distributed in USDC via a revenue sharing model to the network participants. All participants in the network, including Liquidity Providers, Node Operators, Delegators, and the protocol itself have clear paths to long-term value accrual via sustainable rewards mechanism.
In the initial phase of liquidity bootstrapping, inflationary ELYS rewards will be distributed in the form of EDEN and EDEN-Boost. These rewards will be given to both stakers and liquidity providers. The allocations of such inflationary rewards are clearly outlined in the Token Distribution document.
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EDEN
EDEN is a vesting ‘inflationary reward’ token that is earned by both stakers & liquidity providers. After earning EDEN, a user can choose to do the following with it:
‘Claim it’. Once claimed, the EDEN is accounted for in a user’s wallet and further actions listed below can be performed.
‘Commit it’ to the network. Committed EDEN earns the same rewards as ‘staked’ ELYS. This is a means to compound the EDEN rewards. A user can un-commit their EDEN at any time. The un-committing process is immediate ( no un-bonding period). Once a user uncommits their EDEN, they can then choose to do any of the options with it (ie: vest it or re-committ it).
‘Vest it’ for ELYS. If a user chooses to vest EDEN for ELYS, EDEN will vest linearly over a 90 day time period. During the vesting process, the vesting EDEN is burned. After the vesting process is initiated, the corresponding EDEN is locked and vests linearly into ELYS at a 1:1 ratio, over a 90 day time period. When EDEN is in the vesting process, by definition it is not committed, which means that vesting EDEN will not earn any additional rewards. Every pre-defined number of blocks, an amount of EDEN is ‘vested’ into liquid ELYS that will automatically deposit in user wallets and do what they want with. A user may choose to cancel the vesting at any point during this time.
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EDEN-Boost
EDEN-Boost is a multiplier token that is earned while ELYS is ‘staked’ or EDEN is ‘committed’. Its purpose is to reward long-term users.
The APR for at which EDEN-Boost is earned is 100%. EDEN-Boost can also be ‘committed’ further to earn additional EDEN. EDEN-Boost is a way to multiply the rewards for staking ELYS or ‘committing’ EDEN for a longer period of time. Boost % = (EDEN-Boost Earned)/( ELYS staked+ EDEN ‘committed’)
If ELYS is unstaked or EDEN is ‘un-committed’ then EDEN-Boost is burned ( both ‘committed’ and ‘uncommitted’) in proportion to the amount of ELYS unstaked or EDEN ‘un-committed’.
Distribution
All rewards will be distributed every ‘n’ seconds ( ‘n’ will be adjusted to improve the efficiency of the platfrom). The revenues from various sources of the dex will be collected and sent to a fee wallet from which all distributions shall be made to the different recipient based on pool share.
EDEN will be distributed according to a set schedule clearly outlined in the Token Distribution document.
Summary
Staked ELYS and Committed EDEN: Earn 30% dex revenue (USDC), earn EDEN, earn EDEN-Boost
Committed EDEN-Boost: Earns EDEN
Committed Liquidity Pool (LP) Tokens: Earn 60% dex revenue (USDC), earn EDEN
Elys Protocol: Earns 10% dex revenue (USDC)…. Continue reading
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