FAQ
Frequently Asked Questions

Where Can I Buy a Moose NFT?

The first series of limited edition Moose NFTs, which were limited to 100 exclusively on Avalanche network, are sold out. Additional releases are planned for the future, including on other networks. Moose are transferrable, so if you can find someone willing to sell theirs, you can make an offer.

I Only See the Avalanche Chain on the ElkDex. How Can I Use Another Chain?

Elk defaults to Avalanche chain since it was the first chain Elk launched on. To use Matic, for example, just change your network to Matic on your MetaMask and you will see it change to Matic in the ElkDex. If you need to add other chains, try connecting your wallet to https://chainlist.org/ and adding additional chains.

I Can’t Find My Deposits on the Farm Page.

If a round of farming just ended, check the Archived Farms section on the ElkDex, and see if it shows up there.

How Can I Tell How Much My LP is Worth in the Farms?

You can see your staked pairs on the relevant Analytics page below and entering your MetaMask (or other wallet) address under the “Accounts” tab. You can also see the fees you’ve earned from staking here.
https://avax-info.elk.finance/ - Avalanche (AVAX) https://ftm-info.elk.finance/ - Fantom Opera (FTM) https://matic-info.elk.finance/ - Polyon (MATIC) https://heco-info.elk.finance/ - Huobi Eco (HECO) https://bsc-info.elk.finance/ - Binance Smart Chain (BSC) - Live August 18th, 2021 https://xdai-info.elk.finance/ - xDai (DAI) - Live August 18th, 2021

What’s the Maximum Token Supply for $ELK?

Elk's total supply is 42,424,242. Each chain has an initial allocation of 4,242,242 ELK. To check the current circulating supply, click on your $ELK balance in the ElkDex.

Can I Send $ELK from Matic to Avalanche?

Yes, with the help of the ElkNet on the ElkDex.

The Token I Want Isn’t Appearing in the Swap/Pool Menu.

If the token is relatively new, it may not be whitelisted yet. Fortunately, you can manually import it into the swap/pool fields by copying and pasting the token address. If you don’t know the address, visit the Analytics page and click on the token. From there, you can either copy the token address, or you can click the ‘trade’ or ‘add liquidity’ buttons at the top. You can also use this token address to add the token to your MetaMask or other crypto wallet.

Has Elk Finance Been Audited?

All of our ElkDex smart contracts on Avalanche, Polygon, Fantom Opera & Huobi Eco have been successfully audited!
Our HECO ElkDex smart contracts were audited by HashEx between July 9th to July 20th, 2021. You can find the audit report here. No significant risks were found.
Our Avalanche, Polygon, & Fantom Opera ElkDex smart contracts were also audited by HashEx between July 24th and July 26th, 2021. You can find the audit report here. No significant risks were found.
Our ElkNet has not yet been audited. This audit (actually two audits) will probably take place in early Q3. We publish and verify all our code and follow the best practices in terms of security. That said, please remember that most crypto projects are very early and even audited projects are not necessarily safe! Stay safe out there and never invest more than you can afford to lose.

What is the Difference Between Elk and Traditional Bridges?

The difference between Elk and traditional bridges is best illustrated in several examples. Say the user trades ETH for, let's say, "Anybridge" ETH (a.ETH). Then the bridge has to have enough a.ETH liquidity on the second chain the user is going to (i.e., exit liquidity) so that it can be transferred over. Then, the user has to convert a.ETH back to ETH, and hopefully that is also close in value due to different amounts of liquidity on different chains to ensure a fair exchange price, all the while paying lots of gas, and taking a hit if there is not enough liquidity for ETH on all chains. When traditional bridges introduce chains, more support is required for each additional chain, and not only do they need ETH liquidity, they need it paired with,. say a.ETH, to not take a big hit when selling. Plus with each new chain on a traditional bridge, the "two way bridge" requires a bridge to each new other chain. So if you have AVAX-ETH you have that bridge, but if you introduce BSC and FTM now you need AVAX-BSC, AVAX-ETH, BSC-ETH, AVAX-FTM, FTM-BSC, ETH-FTM, and it gets exponentially more difficult to maintain with each new chain, as it needs to have an individual bridge with every existing chain, as well as maintain enough exit liquidity on each.
So the difference in how the Elk Multi-Bridge works is that $ELK is actually sent across the mainnet (ElkNet). Let's use sending from AVAX and MATIC as an example. $ELK is effectively burnt on AVAX, decreasing the supply and slightly increasing the price of $ELK on that chain, and minting the $ELK on the other chain, slightly increasing the supply and decreasing the price of $ELK on that chain.
The beauty of it is that the market naturally balances the price of ELK across all chains, vs having to manually manage exit liquidity on all chains (like traditional bridges have to do). That's why $ELK is close to the same value across chains, because users can manually arbitrage it for more $ELK using ElkNet and other methods to convert the currency, accumulating more $ELK. Eventually, the plan is to be able to simply be able to swap, say, ETH on it's native chain for, let's say, AVAX on it's native chain, while in the background, behind the scenes the DEx trades ETH for $ELK at the best price on the ETH chain, ElkNet burns ELK on ETH, mints it on the AVAX chain, and swaps the ELK for AVAX at the best price. As we have more $ELK liquidity providers, this will lessen the price impact of even large trades. If there is impact, people will see the difference in price, selling ELK on one chain, and moving the value to the other in order to but more $ELK, which evens things out price wise.
It's also faster than any other bridge. We were seeing times between 7-20 seconds (the slower ones are simply slower because of the network's RPCs), and the gas required is not much. Right now that gas coming out of the ElkNet is completely covered by us, so you don't have to pay for it.
Another thing is that each transfer will permanently burn a very small amount of $ELK from all chains, to ensure sustainability.
Lastly, it is completely decentralized, as only Moose NFT holders can validate transfers across ElkNet (who will get a small amount of $ELK for each validation) only if they are holding a certain amount of $ELK
Last modified 2mo ago