Elys Network (ELYS)

Elys is a layer 1 blockchain that brings a suite of Defi products and features fueled by Wallet and Chain Abstraction. Through its revolutionary self-custody universal liquidity design, it transforms the fragmented Web3 landscape into a cohesive and efficient ecosystem.

Whitepaper

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Interest lvl

Medium

Updated: Dec 08, 2024

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User Rating

Medium

3/5 • 1 votes

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Ticker

ELYS, EDEN

Type

Utility-token

Registration year2022

Ecosystems

Cosmos

What is Elys Network

Elys is a Cosmos SDK built, fast layer 1 blockchain, and is a premier decentralized exchange and suite of financial applications in the Cosmos ecosystem featuring:

• Cutting edge integration for a seamless onboarding experience for non crypto-native users.
• A non-custodial Automated Market Maker (AMM) style Decentralized Exchange (DEX) powered by liquidity providers & liquidity pools using native USDC as the base pair token.
• Oracle based multi-asset Index pools which increase diversification and reduce volatility.
• Native margin trading capabilities including a universal cross collateral vault.
• Native bridging capabilities to Ethereum Virtual Machine (EVM) chains & Inter-Blockchain Communication (IBC) enabled blockchains, for optimal UX and value capture.
• Onramps for major fiat currencies such as USD, EUR, GBP, CAD, etc.

Elys Network is built on the principles of sustainability that will ultimately shape the new era of DeFi. The platform will generate non-inflationary yield from multiple sources, which will be distributed via a revenue sharing model to the network participants, like Liquidity Providers and Stakers. This means that all participants in the network will be rewarded using sustainable mechanisms from the beginning. Elys is designed from the ground up to not be reliant on inflationary reward mechanisms other than the initial bootstrapping phase. All participants in the network, including Liquidity Providers, Node Operators, Delegators, and the protocol itself have clear paths to long-term value accrual.