ELFi Protocol Launches Liquidation Subsidy Program and New Contracts on Arbitrum
Singapore, Singapore, August 28th, 2024, Chainwire
The decentralized derivatives trading platform ELFi Protocol has made a significant move in the market by introducing a liquidation subsidy program. Users engaging in contract trading on the platform and reaching a trading volume of at least 1,000 USDC equivalent before September 15th, 2024, 0:00 UTC, will be eligible to receive up to 100 USDC as a subsidy for their initial liquidation losses. This program will operate on a first-come, first-served basis until the total subsidy amount of 50,000 USDC is utilized.
Additionally, ELFi Protocol has unveiled the $DOGS contract and the Polymarket contract $TrumpWin. The $DOGS contract and the Polymarket contract $TrumpWin allow users to speculate on various outcomes, including predicting the result of the US presidential election. These new contracts offer opportunities for both long and short positions, with a maximum leverage of 20x.
To commemorate the successful launch of ELFi Protocol on Arbitrum, ELFi has also kicked off a community event where holders of ELFi NFTs can earn accelerated rewards, with a chance to win up to 100,000 USDC. The activity is currently ongoing, with many users actively participating.
About ELFi Protocol
ELFi Protocol is a decentralized derivatives trading platform known for its advanced trading functionalities. It leads the way in supporting Portfolio Margin within the P2Pool model and features a robust risk management system for listing contracts of varying risk levels. ELFi also introduces innovative liquidity pool designs, such as zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools. The platform aims to meet market and user needs through features like risk isolation, asset pricing, and LST asset support. In May of this year, ELFi Protocol secured strategic funding totaling $5 million, with the latest round led by IDG Capital and KuCoin Ventures.
For more information, you can visit ELFi Protocol on Twitter at https://x.com/ELFi_xyz and join the Discord community at https://discord.com/invite/PzDTteSZDt.
Contact
Marketing
Tony
ELFi Protocol
business2@elfi.xyz
This article was originally published on Chainwire
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Analysis:
ELFi Protocol, a leading decentralized derivatives trading platform, has rolled out a liquidation subsidy program and introduced new contracts, offering users exciting opportunities for trading and predicting market outcomes. The platform’s focus on innovative features and risk management sets it apart, attracting investors and traders looking to capitalize on the latest trends in the market. The recent funding rounds and strategic partnerships also highlight ELFi’s strong position in the market, making it a key player to watch for those interested in decentralized trading platforms.