# ELFI tokens

### ELFI issuance

* 100 million ELFI tokens, a governance token within ELYFI, are issued.
* Token Address (Ethereum): 0x4da34f8264cb33a5c9f17081b9ef5ff6091116f4
* Etherscan - [ELFI Token](https://etherscan.io/token/0x4da34f8264cb33a5c9f17081b9ef5ff6091116f4)

### Distribution

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* Ecosystem Expansion Fund: The amount is allocated for listing on the exchange, marketing, recruitment of experts, money pool insurance, and attracting partners.
  * Distribution ratio: 21.86%
  * Distribution rules: Proceed according to governance procedures
* Airdrop & Converting: Airdrop is conducted for existing EL holders to vitalize the initial ecosystem of ELYFI. In addition, it provides an opportunity to convert EL tokens into ELFI tokens on a first-come, first-served basis. In addition, a certain amount of EL is incinerated to activate the ELFI ecosystem.
  * Distribution ratio: 10%
* Early Investors: Allocate the amount to attract strategic and financial investors for the development of the ELYFI ecosystem.
  * Distribution ratio: 20%
* Yield Farming: ELFI tokens are distributed to early participants in the ELFI money pool and staking as a reward for contributing to the ecosystem.
  * Distribution ratio: 38.14%
  * Distribution rule: Pre-allocated mining quantity per block according to stake/deposit stake ratio
* Team: Allocate the quantity for team operation.
  * Distribution ratio: 10%

### ELFI role in the ecosystem

* Means of obtaining governance voting rights
  * The ELFI token is used as a means to acquire the ELFI governance voting right (sELFI).
  * ELFI holders can stake their ELFI tokens to receive voting rights (staked ELFI = sELFI tokens), and can exercise voting rights as much as the amount they hold.
* Means of payment of screening labor cost
  * sELFI holders who participated in the governance vote can receive protocol revenue.
  * The profit is paid by purchasing ELFI from CEX/DEX for 1/2 of the examination fee received from the borrower in the name of 'screening labor cost'. (For reference, the remaining 1/2 goes to the money pool insurance pool.)

### **Note**

* The token economy of the ELYFI protocol is subject to change, in consideration of proposals and decisions made by the community.
* Token economy may be revised to improve the protocol and ELYFI will work closely with community and partners in this regard.