Introduction to Elk Finance

The Leading Forex Market for the Decentralized Economy

About Elk Finance

Ralph, our mascot, visiting different chains using our bifrost mainnet.

Elk Finance is a decentralized network for cross-chain liquidity. The Elk ecosystem will make it seamless for anyone to exchange cryptocurrencies. Our motto is Any chain, anytime, anywhere.™

Elk Finance combines several innovative features:

  • Cross-chain utility token for value transfer ($ELK)

  • Cross-chain stablecoin for value transfer and loans ($CHFT)

  • Non-Fungible Tokens (NFTs) with cool powers

  • Impermanent Loss Protection for our liquidity providers

  • Liquidity Scoring system and extra rewards for our early adopters, $ELK holders, and liquidity providers

  • ... and many more...

What are some use cases?

At the core, our goal is to provide our users with a simple and cheap way to transfer value across chains. However, Elk’s mission goes far beyond just enabling users to swap assets across chains. We want to make it so our users do not even have to think about which chain you are on anymore. Some of the functionality we will support include calling smart contracts across chains (and allowing smart contracts on different chains to interact), using liquidity on one chain to get a stablecoin loan on another chain, support cross- or multi-chain synthetic assets, or facilitating cross-chain arbitrage.

Is this yet another bridge?

No. While bridges are a step in the right direction, we believe they just do not do nearly enough to enable cross-chain functionality. Some of the problems with bridges:

  • Expensive

  • Slow

  • Largely centralized

  • Hard to manage

  • One-off (you need to deploy a new bridge between every pair of chains)

  • Only support bridging assets that exist in both chains

  • Require conversions if the two assets you want to swap do not exist in both chains

Our approach is much more powerful and cheaper than a bridge: it is a kind of multi-bridge on steroids that is cheaper, faster, and supports many more use cases.

Ralph, our mascot, taking off for the moon with his $ELK rewards...