CHFT is Elk Finance's stablecoin. It is the first cross-chain gyroscopic stablecoin.
In order to facilitate cross-chain value transfers and payments with minimal risk, Elk.Finance will release a stablecoin called CHFT. Upon release, CHFT will be the first cross-chain stablecoin based on a unique design.
As an ERC20 standard, CHFT will be freely tradeable on exchanges and fully compatible with Ethereum wallets as well as compatible wallets on supported chains.
Release of the beta version of the stablecoin is planned to be launched in 2023. Initially, a limited number of strong holders will be allowed to participate.
You have probably heard of USDT and other USD-denominated stablecoins. Elk.Finance has opted to peg its stablecoin to the Swiss Franc (CHF), the world's most stable and safest currency. CHFT stands for CHF-Tethered.
Both are stablecoins. Unlike USDT, CHFT is pegged to the Swiss Franc, which is more stable. At the time of this writing, 1 CHF was worth approximately 1.03 USD so there is not much difference in value. A second difference is that CHFT is based on a novel stablecoin design. Finally, upon launch of the mainnet, users will be able to transact in CHFT at blazing fast speed with super low fees.