Elysian Finance : Defines The Protocol For Decentralized Finance — DeFi 3.0
Introduction Web 3.0 And Elysian Finance
When you first hear about web 3.0, keywords like decentralization and blockchain can easily overwhelm you. Web 3.0 refers to the next generation of internet evolution from the first generation (1.0) to the second generation (2.0).
A new level of global information exchange was made possible by the communications explosion made possible by the World Wide Web. New phenomena such as cryptocurrencies and decentralized applications running on blockchain are expected to be explored in Web 3.0.
Several Defi features have been centralized in the bitcoin community. There are only a few significant exchanges that control the majority of bitcoin trading volume. Trading on certain currency pairs is dominated by these exchanges. Regulated industries have high operating costs due to high overhead and regulatory requirements. Web 3.0 or a more decentralized system for all online transactions cannot be achieved with this kind of centralization.
Borrowing and borrowing are the three most common use cases of Defi. Cryptocurrency traders no longer have to trust third parties with their funds and KYC information due to the Defi protocol. Direct lending and lending of crypto assets from your wallet is also possible without the involvement of a central entity. This type of application is made possible by smart contracts on Ethereum and other blockchains, as you might have predicted.
Welcome to Elysian Finance, More about Elysian Finance.
in the decentralized space is making progress Defi 3.0, if you will, will be the next generation of their technology. Next-generation reserve-backed tokens are the initial application for Elysian system. Automated assets are generated and managed by smart contracts, allowing for complete transparency into how they are being used.
In order to produce Defi 3.0, Elysian Finance combines the greatest aspects of Defi 1.0 and Defi 2.0 into a single protocol. As the only protocol with this unique combination of real-world and cryptographic assets, it offers token holders of all sizes, large and little, a voice in how the protocol develops and changes over time.
The Elysian Token (LYS) is a next generation reserve-backed token for decentralized financial products and the decentralized web. DeFi (de-centralized finance) is the next generation of value internet, which employs distributed ledger technology to connect customers and suppliers, service providers, and financial platforms. Each Elysian token (LYS) is worth one dollar.
Mission of Elysian Finance
Elysian Finance (LYS) aims to revitalize the current status quo with a ground-breaking effort that is heavily influenced by OHM, but approaches system design in a whole different way. The EIP-1822 proxy concept introduces upgradeability and modularity to the smart contract architecture. Bonds and inverse bonds, protocol automation, on-chain governance, non-fungible tokens are just few of the other features included in the platform (NFTs).
All funds received by the protocol will be managed by the Elysian Treasury, which will also make governance decisions easier. It has been developed to be adaptable to a variety of situations. The Elysian core team can use certain moderator addresses, or the community can vote to launch new pools, depending on the situation. On the other hand, it allows Elysian to make changes and add new features without having to stop service.
The following are the foundations of this project:
Mechanism of Pre-Elysian (pLYS) Distribution
Pre-Elysian (pLYS), an option-inspired derivative and the first of its kind in the crypto realm, will be launched soon by Elysian. Future rounds will see the release of the new option-based derivative of LYS, pLYS. Because the treasury value of LYS is one dollar, there must be one dollar in reserve for every LYS issued. Holding pLYS gives you a one-to-one exchange for one of the reserve assets needed to create LYS tokens.
To mint new tokens, the number of pLYS required increases through an exponential function that vests at a rate of 1 percent per week. There are advantages for those that buy early and hold onto their tokens for a longer time.
It’s a long-term gamble because the circulating quantity of pLYS isn’t artificially increased at any particular time. To redeem pLYS it makes sense only when LYS is trading above its inherent value, like an option. Shareholders who invested in pLYS before its supply reaches 12 percent will be able to get their shares in a cumulative manner when it does.
Elysian contribution includes an upgradeable and modular smart contract architecture, as well as features such as:
-OTC market for bonds and inverse bonds
-Automated asset management
-Streamlined governance and NFT
-Rewards tier on top of a ve(3,3) “vote-escrow” mechanism.
80,000 LYS will be offered for sale
The offering price will be $2.5 per LYS
The AMM pool will begin trading at $7.48 with a $240k liquidity cushion.
Only staking will be enabled at launch. Bonds will be added successively.
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.
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