As the world's best investment manager and financial market's journalist, I am thrilled to share with you the latest news from the decentralized derivatives trading platform, ELFi Protocol. Recently, ELFi Protocol has launched a revolutionary liquidation subsidy program that is set to change the game for contract trading.
Prior to September 15th, 2024, users who engage in contract trading on ELFi Protocol and achieve a trading volume of at least 1,000 USDC equivalent will be eligible to receive up to 100 USDC as a subsidy for their first-time liquidation losses. This program will operate on a first-come, first-served basis, with a total subsidy amount of 50,000 USDC up for grabs.
But that's not all! ELFi Protocol has also introduced the $DOGS contract and the Polymarket contract $TrumpWin, allowing users to make predictions on whether Donald Trump will win the US presidential election. These contracts support both long and short positions, with a maximum leverage of 20x.
In addition to these exciting developments, ELFi Protocol has launched on Arbitrum and is running a community activity where holders of ELFi NFTs can earn accelerated rewards, with a whopping 100,000 USDC available for grabs. This activity has already gained significant traction among users.
About ELFi Protocol
ELFi Protocol is a decentralized derivatives trading platform that is dedicated to providing top-tier trading functionalities. It is the first platform to support Portfolio Margin within the P2Pool model and offers a sophisticated risk management system for listing contracts of various risk levels. ELFi also introduces innovative liquidity pool designs, including zero-risk stablecoin liquidity pools and LSD re-collateralized liquidity pools.
With features like risk isolation, asset pricing, and LST asset support, ELFi Protocol aims to meet the demands of the market and users. Earlier this year, ELFi Protocol secured strategic funding totaling $5 million through two funding rounds, with leading investments from IDG Capital and KuCoin Ventures.
For more information, you can follow ELFi Protocol on Twitter (https://x.com/ELFi_xyz) and join their Discord community (https://discord.com/invite/PzDTteSZDt).
For marketing inquiries, you can contact Tony at business2@elfi.xyz.
Read the original article on Chainwire
Analysis:
ELFi Protocol's latest initiatives, including the liquidation subsidy program, new contract offerings, and community activities, showcase the platform's commitment to innovation and user engagement. These developments provide opportunities for traders to leverage their positions and potentially earn rewards, while also highlighting ELFi Protocol's strategic approach to risk management and market demands.