ELK (Utility Token)
$ELK is the life force of the Elk.Finance ecosystem. It is used for cross-chain value transfer and governance, as well as for minting our stablecoin, CHFT.
ELK is a utility token based on the ERC20 standard. All transactions on the Elk Finance will require burning a small amount of ELK. As an ERC20 standard, ELK is freely tradeable on exchanges and fully compatible with Ethereum wallets as well as compatible wallets on supported chains.
One of our $ELK tokens happily spinning around...
    Ticker: $ELK
    Address: 0xE1C110E1B1b4A1deD0cAf3E42BfBdbB7b5d7cE1C [Avalance] [Polygon] [Fantom] [HECO] [xDai] [Binance]
    Legacy token ($lElk) Address: 0xE1C8f3d529BEa8E3fA1FAC5B416335a2f998EE1C [Avalanche] [Polygon] [Fantom]
    Token Type: ERC-20 (supported chains) / native currency (Elk mainnet)
    Supported chains: Avalanche C-Chain, Polygon MATIC, Fantom FTM, HECO Chain , Binance Smart Chain and xDai(more coming soon)
    Maximum supply: 42,424,242 across all chains
    Initial supply per chain: 4,242,424
    Emission rate per chain: ~1,350 $ELK / day
Unconverted legacy tokens ($lElk) will remain in circulation, but they will have no utility.
The hard cap of 4.2M $ELK per chain has been lifted (but the total across all chains remains 42M). The upgrade will prevent problems in the future as $ELK flows between chains according to demand. With the legacy contract, once the 4.2M per chain cap was reached, there would be no way to transfer additional $ELK funds onto that chain. The maximum supply across chains remains capped at 42M, so the tokenomics will not be impacted.
The Elk token becomes pausable, which is initially necessary for the security of the mainnet. Plan to keep this ability for at most 3 months and then relinquish it to a governing council of 7 people for at most 6 months before we leave it up to governance.
The upgraded token supports block-based snapshots, which will help to streamline cross-chain transfers, as well as things like analytics and airdrops.
To upgrade your legacy ELK (lElk) to the new Elk, follow the tutorial shown here.
Last modified 2mo ago
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