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Elys Network Airdrop (How to Claim Elys Network Airdrop)

Elys Network Network, How to Claim Elys Network Airdrop, Elys Network Testnet Airdrop, How to Join Elys Network Testnet Airdrop 

 

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Elys Network Testnet Airdrop| On This Page You’re Going To Know How To Claim Elys Network Testnet Airdrop. 


Contents

What is Elys Network About ? 

Elys is a fast layer 1 blockchain built in the Cosmos ecosystem supporting a decentralized suite of financial applications.

Elys Attributes

  • 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.

How to Join Elys Network Testnet Airdrop

Just follow the simple steps below 

Steps on how to claim elys network airdrop

  1. Download the Keplr Wallet Extension (Mobile Users can use Kiwi Browser).
  2. Vist Elys Network page and connect your Kepler Wallet.
  3. Click on Deposit and then Claim Testnet Tokens.
  4. Make some swap like swap 0.1 USDC into ATOM and then 0.1 into ELYS
  5. Go to earn tab > Simple Staking > stake some USDC. Go to earn again > liquidty mining > add USDC/ELYS in liquidty pool.
  6. Just repeat all these transaction to increase your transaction count to atleast 20.

That’s all. If you need any further help, you can join my WhatsApp group: 

Watch the Video

Link in the video:  https://elys.bonusblock.io/

More information About Elys Network

Elys Ecosystem Tokens

There are various tokens within the Elys ecosystem, and each serve a unique purpose:

ELYS

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.

ELYS-LP

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

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

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

Elys Revenue Sharing

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.

Non-Inflationary Revenue Sources
  • Perpetual Trading Fees

  • Margin Interest Fees

  • Swap Fees

  • Transaction Fees

  • Styx (Cross Chain Omni Bridge) Fees

  • MEV (Maximum Extractable Value)

Revenue Sharing Distribution
  • 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.

Elys Network Reward

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.

 

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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