Amidst an intricate labyrinth, the Elys Network has emerged as a beacon of hope, promising to remove or reduce the barriers across different blockchains with its ‘Universal Liquidity Layer’.
Elys Network is a one-of-a-kind Layer-1 Appchain with a complete set of features including Native Bitcoin and Solana staking and leverage trading. The primary aim here is to provide a Universal Liquidity Layer unifying blockchains at a single click.
Additionally, using chain and wallet abstraction Elys Network tries to bridge the gap between Web2 and Web3 and provide accessibility to liquidity at one place and one click from a number of different blockchains.
An Overview of Elys Network
Elys Network is a Layer-1 app chain building using the Cosmos SDK, which allows for easy integration with other blockchains within the decentralized ecosystem. One of its primary goals is to simplify user onboarding and provide a user-friendly interface that mirrors exactly how centralized exchanges (CEXs) operate, while still delivering the benefits of decentralized finance (DeFi).
This innovative approach helps attract a diverse user base, from seasoned traders to newcomers seeking a seamless entry into the DeFi space.
Elys Network, through its revolutionary self-custody universal liquidity design, transforms the fragmented Web3 landscape into a cohesive and efficient ecosystem.
Whether you’re on a computer or a phone, you can trade anything, anywhere, anytime, instantly.
Elys Network champions inclusivity with a sleek, user-friendly interface. We’re not reinventing the wheel—just making it work perfectly for everyone, on every road.
Founder, Elys Network
Universal Liquidity Concept
The Universal Liquidity Layer refers to the consolidation of liquidity from multiple ecosystems into one point which is Elys Network DEX. This means that users get a larger set of trading pairs, consistent and easy access to liquidity pools and a very large pool of assets. This reduces the fragmentation and increases overall liquidity for all ecosystems.
Elys Network Unified Application implements different features within the platform allowing users to stake USDC, ELYS (which is its native token), Bitcoin, Solana and all types of tokens seamlessly.
Unified by the use of Inter-Blockchain Communication (IBC) protocol providing trust-minimized and secure bridge for native assets from EVM compatible chains, Bitcoin, Solana, Avalanche, assets can be seamlessly transferred between Elys Network and other blockchains promoting inclusion across the broader ecosystem.
New investors can benefit from a more diverse range of trading options and reduced barriers to entry, while experienced traders can take advantage of increased liquidity and more efficient price discovery.
Chain and Account Abstraction
Elys Network utilizes its own modules for chain and account abstraction to make multi-chain interaction as easy as possible. The concept of chain abstraction is fully leveraged by Elys Network through the IBC. This allows for seamless trading of native tokens like BTC and SOL on our platform, acting as a practical implementation of chain abstraction.
This unique approach to chain abstraction makes it effortless to trade any token from any ecosystem, generally eliminating concerns about the specific blockchain in use.
In addition, Elys Network uses account abstraction to easily on-board new users. This technology allows every new participant to easily trade using their social accounts such as Google / X within seconds after their first click and without the hassle of Web3.
This simplifies the onboarding process and eliminates the cumbersome aspect of the usual web3 interaction: no more signatures.
Universal Account Systems
This functionality not only simplifies the user experience but also increases the trading efficiency. Thanks to Particle Network, at Elys Network trades can be executed instantly or ‘at the drop of a hat’—across different ecosystems, without wondering what chain you’re on.
Frictionless Transactions
Helps users execute transactions across different chains using a unified account and balance, streamlining their DeFi interactions and reducing the technical barriers typically associated with cross-chain activities.
Gas Fee Flexibility
The ability to use any token to pay for transactions fees on the Elys Network chain increases flexibility and ease of use in managing your own transactions.
Key Features of Elys Network
Elys Network integrates a range of advanced features designed to enhance the DeFi experience for users across the blockchain spectrum. Below, we explore some of the major capabilities that make Elys Network a standout in the Cosmos ecosystem.
Universal Liquidity Layer
One of the standout features of Elys Network is its ability to facilitate cross-ecosystem accessibility. This functionality is crucial for users who deal with assets across various blockchains including Ethereum, Solana, and others within the Cosmos network.
This integration allows users to trade native assets like SOL tokens and Bitcoin on the platform and create a frictionless experience that increases user liquidity across different chains
Additionally, by partnering up with solutions like Picasso, Elys Network has facilitated direct interactions between these ecosystems. Allowing users to deposit, withdraw and create liquidity pools across multiple blockchains without the complexities (token wraps, multiple wallets and bridges associated with cross-chain transactions.
Innovative Reward Solutions
Finally we have reached one of the most tempting parts of this article, which is how exactly do users earn from Elys Network?
Some of the methods introduced by Elys Network to maximize the investors ROI include –
“One Click Staking” or Simple Staking
One Click Liquid Staking is now integrated directly into the platform, allowing users to stake USDC and ELYS (which is its native token), Bitcoin, Solana tokens, and all types of tokens seamlessly.
This feature is especially beneficial for those who appreciate the simplicity and effectiveness of Simple Staking. The one-click staking feature simplifies the process of earning passive yield on proof-of-stake (PoS) assets. This functionality allows users to stake their assets with minimal effort from the user’s end and eliminates the technical barriers often associated with staking in DeFi.
So, by integrating liquid staking directly into the platform, Elys network opens up a new world for every user to stake different types of tokens such as Bitcoin / Solana seamlessly, while giving them freedom of use on their liquidity.
This approach provides opportunities for users to earn attractive passive yield of 10-20% on their staked assets while being able to use them easily on the various features of the Elys Network application at the same time.
Additionally, with the implementation of one-click staking solutions, users can easily provide their USDC tokens and start accumulating rewards instantly. This process not only simplifies participation in staking but also minimizes the barrier to entry, allowing a broader range of investors to benefit from secure and steady yields.
Liquidity Mining
Liquidity mining on Elys Network allows users to earn rewards by providing liquidity to specific trading pools on the decentralized exchange (DEX). By depositing an equal value of two tokens into a liquidity pool, users become liquidity providers (LPs) and receive LP tokens in proportion to their contribution.
Users who partake in providing liquidity will be able to earn trading fees from the Elys Network Application distributed in USDC + an incentive in EDEN.
Leverage LPs
Elys Network offers advanced traders the opportunity to leverage their liquidity by using the Leverage LP function. The protocol will handle everything by creating the LP token with their leverage for them. By leveraging their liquidity, users can borrow additional funds to increase their exposure to a given pool and potentially amplify their earnings.
USDC-Paired Trading
Every single pair on Elys Network is USDC-paired, providing users with a stable trading option that is less volatile compared to using liquidity pools involving other cryptocurrencies. Giving this option to only pair assets with USDC, not only protects the user from price volatility within the market but also protects every single token from a cascade of price drops linked to the collapse of one of the tokens.
Thanks to our oracle-based weighted pools, users engaging in liquidity mining on Elys Network no longer need to fear impermanent loss, providing a more stable and predictable investment environment.
Decentralized Exchange (DEX) Functionality
Elys Network operates a non-custodial Automated Market Maker (AMM)-style decentralized exchange (DEX) simplifying the process for liquidity providers to contribute their assets. And access to different blockchains means a large number of liquidity pools are at the fingertips of any user.
Elys Network is a groundbreaking Layer-1 app chain designed to simplify the complex DeFi landscape. By unifying liquidity across various blockchains, Elys offers a seamless user experience reminiscent of centralized exchanges, while preserving the benefits of decentralization. Its key features include cross-ecosystem accessibility, innovative staking solutions, and a robust DEX with advanced trading options.
Elys Network’s economic model, centered around the ELYS and EDEN tokens, incentivizes network participation and rewards early adopters. With its focus on user experience, cross-chain compatibility, and innovative features, Elys Network has the potential to significantly impact the DeFi ecosystem and attract a wider user base.
Economic Model and Incentives
There are numerous ways to “Earn” on the Elys Network. The network’s economic model centers around USDC rewards for a stable yield while including the two ELYS network tokens ELYS and EDEN, which create an attractive incentive structure for the end users.
Validators are rewarded with USDC and ELYS tokens for securing the network and processing transactions. Their compensation is tied to the overall size of their stake (in ATOM) and the overall performance of the network, encouraging active participation from them and fosters an innovative way to distribute USDC rewards as a Proof-of-stake chain, thus reducing the impact on the ELYS price.
Liquidity providers earn rewards in both USDC (from trading fees) and EDEN token which is a vesting inflationary reward token distributed to both stakers and liquidity providers. EDEN token can be “Committed” to earn additional rewards but it can also be “Vested” to collect ELYS at a 1:1 ratio.
This dual incentive structure aligns the interests of liquidity providers with the platform’s growth.
The distribution of ELYS and EDEN tokens is strategically designed to bootstrap liquidity from the ground and reward early adopters while keeping inflation very minimal thanks to our USDC reward plan.
Seamless Trading Experience
One of the many lucrative functions of Elys Network is that it is designed with a user-friendly interface that is quite familiar to the trading environments of centralized exchanges (CEXs).
Elys Network offers a comprehensive suite of trading features, at the core of its offerings are Spot and Perpetual trading options, which provide traders with the flexibility to engage in immediate transactions or speculate on future prices of cryptocurrencies without the need to hold the actual asset.
This dual trading facility is complemented by advanced liquidity mining strategies, which are designed with innovative pool designs to maximize yield and reduce risks associated with liquidity provision.
Closing Thoughts
Elys Network is a revolutionary Layer-1 Appchain that simplifies DeFi. It unifies liquidity from different blockchains, providing a User-Friendly experience similar to centralized exchanges (CEXs) while maintaining the advantages of decentralized exchanges (DEXs). Its main features include Universal Liquidity, Innovative Staking solution, a strong AMM-based DEX, and multiple advanced features such as Leverage LP and Perpetual Trading.
The economic model revolves around stablecoin reward distribution in USDC while keeping a minimal ELYS and EDEN emission to encourage network participation. With a focus on user experience, cross-chain compatibility, and innovative features, Elys Network has the potential to make a great impact in the DeFi space in the future of Web3.
