ELFI tokens

ELFI issuance

• 100 million ELFI tokens, a governance token within ELYFI, are issued.

• Token Address (Ethereum): 0x4da34f8264cb33a5c9f17081b9ef5ff6091116f4

• Etherscan - ELFI Token

Distribution

• 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.