CoinEfficiency

ELFi Protocol Launches Liquidation Subsidy Program and New Contracts

Discover ELFi Protocol's new liquidation subsidy program and innovative contract launches, including $DOGS and $TrumpWin, designed to enhance decentralized derivatives trading.
Published on 2024-08-27

ELFi Protocol Launches Liquidation Subsidy Program

The decentralized derivatives trading platform, ELFi Protocol, introduces a liquidation subsidy program to support contract traders. Until September 15th, 2024, users trading on the platform with a volume of at least 1,000 USDC equivalent can receive up to 100 USDC as a subsidy for initial liquidation losses. This initiative operates on a first-come, first-served basis, with a total subsidy pool of 50,000 USDC.

Introduction of New Contracts

ELFi Protocol has unveiled new contracts, including the $DOGS contract and the Polymarket contract $TrumpWin. The latter allows users to speculate on the outcome of the US presidential election, specifically whether Donald Trump will secure victory. These contracts accommodate both long and short positions, offering a maximum leverage of 20x.

Celebrating Launch on Arbitrum

In conjunction with its launch on Arbitrum, ELFi Protocol has initiated a community engagement activity. Holders of ELFi NFTs are eligible for accelerated rewards, with a total of 100,000 USDC available. This community activity has garnered significant participation and continues to gain momentum.

About ELFi Protocol

ELFi Protocol stands out as a decentralized derivatives trading platform, pioneering Portfolio Margin support within the P2Pool model. It features an advanced risk management system to facilitate the listing of contracts across various risk levels. ELFi's innovative liquidity pool designs include zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools, enhancing market and user demand fulfillment. The platform also focuses on risk isolation, asset pricing, and LST asset support.

In May, ELFi Protocol completed funding rounds totaling $5 million, led by prominent investors IDG Capital and KuCoin Ventures, solidifying its position in the market.

By integrating these features, ELFi Protocol aims to optimize decentralized trading and meet evolving market needs effectively.

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