Elysian Finance: Decentralized Treasury For The Decentralized Web
Cryptocurrency enthusiasts are flocking to decentralized finance (DeFi) developments for good reason. More than $10 billion has now been invested in developing the DeFi protocol, and DeFi-only media portals such as The Defiant and Defiant Pulse have sprung up to meet the demand for news and information in this sector.
As a result of the success of DeFi, consumers now have unprecedented access to a wide range of financial products and services, including savings accounts, insurance, loans, and commerce. DApps are programs that run on the blockchain without the need for a central authority, as is the case with traditional financial transactions. Instead, the same records are kept across hundreds of computers connected via a peer-to-peer network, eliminating a single point of failure.
Elysian Finance To be precise is
A backup-backed cryptocurrency is being developed for Defi 3.0 and the decentralized web by Elysian Finance in the near future. By designing a non-custodial protocol focused on algorithmic asset emission as well as improving on-chain asset management, Elysian Finance hopes to achieve this goal. For example, robo-trading, exchange-traded funds (ETFs), and market-building technologies will be used by Elysian Treasury. Using Elysian Finance smart contracts, anyone can see every step of the strategy life cycle, from conception to execution. LYS is backed by a basket of treasury assets, and each token issued is guaranteed to be backed by $1. This provides a stable base for the token and ensures that every LYS created will always have $1 backing it.
To bring new life to the current status quo, Elysian Finance (LYS) developed an original system that was heavily influenced by OHM but took a different approach in terms of system architecture. For example, the EIP-1822 proxy design from Elysian Finance (LYS) adds extensibility and adaptability to the smart contract architecture, along with a number of other features.
The “vote deposit” mechanism, risk-free value (RFV), protocol held liquidity (POL), and combined returns are all retained, but Elysian Finance offers an additional layer of stock incentives.” Early in the development process, the Elysian Finance Team predicted a first-quarter debut date. 2022 for this project.
As a community owned company, Elysian Finance strives to involve its target audience in the development process. The treasury should now be bootstrapped, and Elysian has entered the preparatory stage for its fair debut event. Early entrants will be eligible to participate in the “pre-Elysian” pre-sale, which is a call option type instrument that can be exchanged for Elysian (LYS) by depositing the RFV ($1) in Treasury prior to the public offering starting. LYS tokens will be sold in the future at a higher price than the RFV to differentiate Elysian (LYS) from the competition.
Distribution Elysian Finance
Following that, the Pre-Elysian (pLYS) derivative, which is a LYS derivative with option-inspired behavior, will be distributed in the following round. Because the inherent worth of the treasury equals one dollar, there must be one dollar in the reserve for every LYS that is issued. You can trade one pLYS for one of the reserve assets required to mint LYS if you have a sufficient amount of them: 1 pLYS for one dollar of the reserve asset. The term “supply-based pricing” refers to a long-term investment in which there are no defined dates for when the circulating supply will be arbitrarily increased. PLYS, which operates in the same way as an option, should only be used when the stock is trading at a premium to its intrinsic value.
The pLYS supply will be replenished when the supply hits 12 percent, and early supporters, advisers, and team members will be able to claim their pLYS. There will be 120k reedemable pLYS available on a 1m supply, 1.20m reedemable pLYS available on a 10m supply, and so on.
The distribution of pLYS is broken down as follows:
Team: 330m pLYS and 8% supply
Investors: 70m pLYS and 3% supply
Advisors: 50m pLYS and 1% supply
Community: 550m pLYS and no supply cap.
The revenues from the distribution will be used to fund the company’s development and scaling requirements, as well as marketing and new product development. After all is said and done, the goal of this round is to ensure long-term funding for the project without the need for treasury bids. During the early phase, a larger user base is ensured, as well as a higher emphasis on expansion. Sign up for the whitelist if you want a thorough picture of a prospect.
Features provided by Elysian Finance
Elysian Finance offers a variety of services that are simple to use. Elysian Finance, for example, creates smart contracts that are upgradeable (using the EIP-1822 proxy architecture) and modular. However, Elysian Finance has a number of other advantages:
-Protocol Automation: users will be able to see a smart contract that is equipped with an automation protocol, which will make the entire process run automatically and will reduce errors.
-On-chain governance and NFTs: users will be able to see a smart contract that supports reliable and secure on-chain governance and NFTs.
-Distribution Mechanism: the team will try to distribute LYS tokens using Pre-Elysian (pLYS) tokens. Later, by purchasing this token, users will be able to exchange it for LYS tokens worth $1.
In a user-friendly and dynamic interface, all of this is accessible from a variety of devices. Elysian Finance’s developers created the platform’s interface to look modern so that users can simply access information or acquire tokens, for example. Users of any skill level can utilize Elysian Finance without issue.
Details information.
Website: https://elysian.finance/
Medium: https://medium.com/@elysianfinance
Twitter: https://twitter.com/Elysian_Finance
Telegram group: https://t.me/elysianfinance
Github: https://github.com/ElysianFinance
Discord: https://discord.gg/gNFfBfV4he
Author
Bitcointalk Username: Manti Tarak
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=3398709
Telegram Username: @mantitarak
Wallet Address: 0xa00Ac64ce301B4E584Fe78B0864EE6575a4b2b68
