Elysian Finance: Next Gen Reserve Backed Token for DeFi 3.0 and The Decentralized Web
In just a few short years, the Decentralized Finance Marketplace has grown into a multi-billion-dollar industry, and the amount of cryptocurrency flowing through DeFi apps is increasing daily. Transactions are recorded under pseudonyms, so there are no privacy concerns. Open source software means that DeFi services can be combined and customized in virtually infinite ways. New types of products and transaction settlement methods can be launched with minimal restrictions on the DeFi platform, which again increases transparency in how things work that is unheard of in centralized finance.
About Elysian Finance
The Elysian Finance is building a next-generation reserve-backed protocol focused on algorithmic asset emission and advanced on-chain asset management. The treasury will be involved in strategies ranging from arbitrage to market-making, robo-trading and ETFs. Elysian smart contracts provide full
transparency on strategy performance and how the strategies are structured and operated. The Elysian token (LYS) is backed by a basket of assets in the treasury, which combined with the risk-free value (RFV) provides intrinsic value and ensures 1 minted LYS is always backed by $1.
Elysian Finance (LYS) aims to bring new life to the current status quo with an innovative project that is heavily influenced by OHM but takes a distinct approach in terms of system design. The Elysian Finance (LYS) contribution strengthens the smart contract architecture by offering extensibility (through the EIP-1822 proxy design) and modularity, as well as a number of other enhancements. Elysian Finance adds an additional layer of stake incentives on top of a ve(3,3) “vote-escrow” mechanism, while still keeping the most important attributes, such as risk-free value (RFV), protocol owned liquidity (POL), and compounding profits. Early in the development process, the Elysian Finance Team predicts a first-quarter 2022 launch.
They go to great measures to involve their target audience in the development process because it is one of Elysian Finance’s primary goals to have the community take control of the organization and govern it. It is now important to bootstrap the treasury in order to maintain initial supplies, and Elysian has entered the phase of preparation for the fair debut event. Those who are fortunate enough to enter the market early will have the opportunity to take part in the pre-sale, which is a distribution of “pre-Elysian” (pLYS), an instrument that is similar to a call option and can be traded in for Elysian (LYS) by depositing RFV ($1) in the treasury before the public offering begins. Those who are able to participate in the pre-sale will have the chance to buy Elysian before In order to set itself apart from competitors, the next phase of token distribution will feature the sale of a predetermined quantity of Elysian (LYS) tokens at a price that is equal to a multiple of the RFV.
Distribution Mechanism
The next cycle will involve the distribution of Pre-Elysian (pLYS), which is a derivative of LYS that exhibits behavior that is influenced by options. Because the fundamental value of the Treasury is one dollar, there must be one dollar in the reserve for each and every LYS that is issued. Holding pLYS entitles you to a one-to-one exchange for one of the reserve assets that are required to mint LYS. This exchange consists of exchanging one pLYS for one dollar’s worth of the reserve asset. When pricing is determined by supply rather than demand, it is a gamble with a long time horizon because there are no predetermined dates for when the available supply will be arbitrarily increased. It only makes sense to redeem pLYS, which operates similarly to an option, when LYS is trading at a price that is higher than its intrinsic value.
Early supporters, advisors, and members of the team will be able to claim their pLYS tokens once the supply of pLYS reaches 12 percent. On a one-meter supply, there will be reedemable pLYS worth 120 thousand, and on a ten-meter supply, there will be 1.20 million, and so on.
A breakdown of the pLYS distribution may be found down 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 distribution’s revenues will be used to fund development and scaling needs, as well as marketing and new product development. The ultimate goal of this round is to acquire the necessary long-term funding for the project without using Treasury bids. In the initial phase, a larger user base and a higher emphasis on expansion are guaranteed. Sign up for the whitelist to acquire a complete prospect.
Elysian Finance Team
The team at Elysian Finance consists of computer science enthusiasts who work at the intersection of finance and cryptography. They have extensive experience with distributed systems, trustless architectures, smart contracts, and network security. The objective of the Elysian Finance team is to provide financial services that have a positive effect on the ecosystem and the industry as a whole. In order to accomplish this, Elysian Finance desires to innovate and effectively manage its human and financial resources.
Conclusion
When it comes to DeFi 3.0 and the decentralized web, Elysian Finance is one of the more interesting ideas. On-chain asset management and algorithmic asset emission are at the heart of Elysian Finance’s non-custodial protocol development efforts. As a result of Elysian Finance’s smart contracts, strategy performance and strategy construction and operation are completely transparent. The treasury asset basket ensures that each Elysian token (LYS) is backed to the tune of $1. Aside from ensuring that each LYS is backed by $1, the risk-free value (RFV) also gives the token intrinsic value.
It is imperative that you sign up as soon as possible, fill out your whitelist, and don’t miss out on the restricted amount of spots available. Now is the time to make some serious money.
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