ELFi Protocol Introduces Liquidation Subsidy and Launches DOGS and Polymarket 20x Contracts

(PRESS RELEASE – Singapore, Singapore, 28 August 2024)

The decentralized derivatives trading platform ELF The Protocol has recently launched a settlement subsidy programBy September 15, 2024 at 0:00 UTC, users who perform contract trading on the ELFi Protocol and accumulate a trading volume equivalent to no less than 1,000 USDC will be eligible to receive a maximum of 100 USDC as a subsidy for their initial liquidation losses. This subsidy program will be implemented on a first-come, first-serve basis, until the total subsidy amount of 50,000 USDC is exhausted.

In addition, the ELFi Protocol has launched the $DOGS Contractas well as the Polymarket contract $TrumpWinwhich allows users to predict whether Donald Trump will win the US presidential election. These newly introduced contracts support long and short positions, with a maximum leverage of 20x.

To celebrate the successful launch of the ELFi Protocol on Arbitrum, ELFi has also started a community activity where ELFi nft holders will receive accelerated rewards, with a maximum of 100,000 USDC up for grabs. This activity is currently in full swing and many users are participating in it.

About ELFi Protocol

ELF ELFi Protocol is a decentralized derivatives trading platform that focuses on delivering top-tier trading functionalities. It pioneers Portfolio Margin support within the P2Pool model and features a sophisticated risk management system for listing contracts of various risk levels. Additionally, ELFi introduces innovative liquidity pool designs, offering the industry’s first zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools. It strives to better meet market and user demands through features such as risk isolation, asset pricing, and LST asset support. In May this year, ELFi Protocol announced its funding, successfully completing two strategic funding rounds totaling $5 million. The latest round was led by IDG Capital and KuCoin Companies.

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