Elys Network: Revolutionizing DeFi in the Cosmos Ecosystem

Everyone knows that the Cosmos Ecosystem is hot right now, and its newest entrant Elys Network is redefining the DeFi landscape with its Cosmos SDK-built, Layer 1 blockchain. Elys is just about to launch a private test net, with plans for a public test net later in 2024. Let’s delve into the key aspects that make Elys Network a game-changer in DeFi.

Twitter: https://twitter.com/elys_network

A Suite of Innovative Features

Elys Network is not short on innovative functionalities. The platform is equipped with a multi-token infrastructure, a revenue-sharing model, a unique reward structure, staking/governance, and an AMM DEX. These features, coupled with opportunities for passive income on stablecoins, provide users with a comprehensive suite of tools for optimizing their financial strategies.

Tokens

There are various tokens within the Elys ecosystem, and each serves a unique purpose:

ELYS – staking & governance token of ELYS Network

EDEN – reward token earned by both stakers & liquidity providers

ELYS-LP – Liquidity Providers can receive a pool token (LP token) or a molecule token. Molecule Tokens are assigned to a multi-asset index. For example, holding a molecule token would get exposure to Atom, ETH, BTC, and USDC. Find out more about molecule tokens here.

EDEN-Boost – a multiplier token to reward long-term stakers. 

Revenue Sharing Model

• Applicable for LPs, validators, and delegators, distributed in USDC.

Non-Inflationary Revenue Sources

• Margin Trading Interest Fees
• Styx (Cross Chain Omni Bridge) Fees
• Swap Fees
• Transaction Fees
• MEV (Maximum Extractable Value)

Revenue Sharing Distribution

• Stakers/Delegators: 35% of DEX revenue
• Liquidity Providers: 65% of DEX revenue

Rewards

• During the initial liquidity bootstrapping phase, rewards will be distributed in EDEN and EDEN-Boost, and given to ELYS stakers and liquidity providers.
• Once users earn EDEN they have three choices of what to do with it:

1. Commit It – a way to compound your EDEN rewards (earn EDEN-Boost). Can be uncommitted at any time. No unbonding period. After EDEN is uncommitted, it can be claimed, vested, or re-committed.
2. Claim It – deposited into your wallet and able to be swapped.
3. Vest It – lock EDEN for ELYS in a 180-day time frame. Locked EDEN is burned and turns into ELYS in a 1:1 ratio over the 180-day timeframe. During the locking schedule, the EDEN is turned into liquid ELYS which the user can claim and use however they want. Locking can be canceled at any time.

• EDEN-Boost is earned while ELYS is staked or EDEN is committed and is aimed at rewarding long-term holders and has a 100% APR. You can also commit EDEN-Boost to earn additional EDEN.

Staking/Governance

• Delegate ELYS to a validator node on the Elys Network
• Participate in governance
• Earn rewards (35% of DEX revenue) paid in USDC, EDEN, and EDEN-Boost (based on your choices from the Rewards section).
• The initial unbonding period is 14 days (this could change with a governance vote).

Conclusion

Elys Network is more than just a new player in the cryptocurrency space; it’s a trailblazer in the DeFi landscape within the Cosmos Ecosystem. With its innovative multi-token infrastructure, revenue-sharing model, rewards system, and staking, Elys Network is poised to make a lasting impact in the blockchain and DeFi space. As we watch its journey unfold, Elys Network is undoubtedly set to redefine the standards of DeFi.

Cheers!