Elysian Finance : building a next generation reserve backed token for DeFi 3.0 and the decentralized web.
It’s now time to bootstrap the treasury to back the initial supply and Elysian Finance are entering the preparation phase for the fair launch event. Once this is complete, there will be a seamless system in place to allow token holders to deposit their ELY into a smart contract that will hold, protect and grow their funds through a borderless ecosystem of interconnected platforms.
After months of study and analysis, Elysian Financial is offering a new token format for the next generation of decentralization initiatives. Elysian Finance idea is that governance and finance mechanisms need to be adjusted for the expansion of digital asset technologies. are going to design a system that provides us financial freedom, encourages tokenomics and rewards the project’s community.
About Elysian Finance
Elysian Token (LYS) is a next generation reserve-backed token for decentralized financial instruments and the decentralized web. The next generation of value internet will run on a DeFi (de-centralized finance) protocol that uses distributed ledger technologies to seamlessly connect consumers and providers, service providers, and financial platforms. Elysian token (LYS) will be minted at $1 per LYS.
The first stage of operation
The main focus on the fair launch event is to bootstrap the treasury activities and to back the initial LYS supply. Functionalities such as OTC for bonds and inverse bonds and vote escrow will not be available until later time. Only staking and bonding will be active at launch.
are pleased to present Elysian, the next generation DeFi project that is building a reserve backed token for DeFi 3.0 and the decentralized web. Elysian believe that open source projects need to self-fund themselves in order to exist over the long term, and saw a unique opportunity in the growing DEX ecosystem with Reserve-Backed Tokens that met Elysian project’s long term funding requirements such as stability and responsibility.
At the fair’s debut event, the treasury and first LYS supply are the primary goals. It will be some time before features like OTC for bonds and inverse bonds and vote escrow are accessible. At the time of launch, only staking and bonding are available.
Elysian Finance is a community-owned smart treasury management protocol that aims to deliver the best yields possible for its token holders. In order to achieve this, Elysian Finance will be using the most popular and liquid DeFi protocols, such as Balancer, Cream, Curve and Yearn. There will be no fees for the use of Elysian Finance.
The focus on the fair launch event is getting the token (LYS) on as many hands as possible and with an even distribution. On top of this, the priority is on bootstrapping the liquidity on chosen AMM markets (Uniswap, Sushiswap). At the time of initializing the pool, we will receive LP tokens. The treasury will determine the RFV value of the LP at about a third of the market value of the tokens comprising it. To avoid massive profits being distributed on first epochs, and the risk of a pump and dump scenario, we will deposit the liquidity gradually. Each epoch, starting from epoch 10, will see 1/100th part of the liquidity added to the pool automatically. This should help maintain a reasonable APY during the bootstrap phase and avoid liquidity draining.
The initial supply of LYS will be 96,022.1409, of which 80,000 will be offered for sale and 16,022.1409 will be added as initial liquidity. The initial supply was inspired by the Avogadro constant.
After selling all tokens, $200,000 will be raised for the treasury and the initial supply (RFV), with $80,000 going into the treasury and $120,000 going into initial liquidity. DAI and LYS for the LP will begin at $7.48, and the first liquidity for the LP will amount to $240,000. A long-term gamble, since it vests according to supply, and there are no set dates at which the circulating value is arbitrarily increased. To redeem pLYS it makes sense only when LYS is trading above its inherent value, much like an option.
When the supply of pLYS hits 12 percent, early backers, advisers, and members of the team will be able to vest their shares cumulatively. This indicates that at 1 million units of supply, there will be 120k reedemable pLYS; at 10 million units of supply, there will be 1.20 million pLYS; and so on.
A breakdown of the pLYS distribution is shown below:
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 time has come for Elysian to bring blockchain technology to mass adoption, and Elysian going to do it simply. Elysian Treasury will address this issue by developing the protocol for DeFi 3.0, with multiple use cases combined into one smooth solution. In addition, Elysian will act as a bridge between blockchains and traditional finance by reintroducing financial markets to both traditional investors and crypto investors alike. This will allow for new types of asset management and strategies to be developed, which were previously only available via traditional financial institutions.
Details information,visit link
Telegram group: https://t.me/elysianfinance
Bitcointalk Username: Aiko Ryzuka
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=3397304
Telegram Username: @aikoryzuka
Ethereum Wallet Address: 0xA24009B0041b50f38f745f3A91f8552304E42483