Elysian Finance Is Constructing A Reserve-Backed DeFi Token For The Next Generation.

Elysian Finance Is Constructing A Reserve-Backed DeFi Token For The Next Generation. Through the use of DeFi, anybody who has access to the internet and wants to can conduct business with anybody else anywhere in the world, regardless of where they are physically located. Customers who have been unsuccessful in their attempts to use the conventional banking system are another focus of DeFi’s marketing efforts. People who live in nations that are still developing now have access to banking services that were previously out of their reach.
Peer-to-peer financial transactions, also known as P2P transactions, are one of the most important breakthroughs that DeFi has introduced. These transactions allow users to send and receive digital payments directly with one another. It is possible to validate the transaction by utilizing the consensus process. An organization can continue to use its existing ERP infrastructure while still benefiting from DeFi safe, scalable, and automatic payments for B2B transactions. This allows the organization to have a more streamlined process.

In order to achieve this goal, Elysian Finance is hard at work on a non-custodial protocol that will be centered on algorithmic asset emission and enhanced on-chain asset management. Elysian Finance is in the process of developing a reserve-backed cryptocurrency in order to get ready for DeFi 3.0 and the decentralized web. The Elysian Treasury will participate in market-building operations, robo-trading, and exchange-traded funds, among other financial activities (ETFs). The smart contracts offered by Elysian Finance make it possible to have complete visibility not only into the carrying out of plans, but also into their creation and ongoing operation. Every Elysian token (LYS) that is distributed will invariably have $1 worth of treasury assets backing it up. This is a hard guarantee. Tokens have a value all their own thanks to the risk-free value (RFV), which ensures that each LYS that is created is backed by $1. This gives the tokens an intrinsic worth.

With an innovative concept that is largely influenced by OHM but takes a distinct approach to system architecture, Elysian Finance (LYS) aspires to breathe new life into the current status quo in an effort to bring about a more positive change. This addition made by Elysian Finance (LYS) enhances the smart contract architecture by providing, among other features, extensibility (through the EIP-1822 proxy design), as well as modularity. In addition to RFV, POL, and compounding returns, Elysian Finance adds a layer of stake incentives on top of a ve(3,3) “vote-escrow” mechanism, while still maintaining the most fundamental characteristics. The Elysian Finance Team has made an early prediction that the new initiative they are working on would be ready for release in the first quarter of 2022.
Elysian Finance places a high priority on involving its clientele because it was founded on the principle that it should be governed by the general populace. Elysian is currently in the preparation phase for the fair debut event in order to support early supplies, and the bootstrapping of the treasury is part of this process. In order for investors to take part in the pre-sale, they are required to make a deposit of one RFV ($1) in the treasury prior to the start of public selling and obtain “pre-Elysian,” an instrument in the form of a call option that may be traded in for Elysian (LYS) by making a deposit of pLYS. In subsequent token distributions, it plans to differentiate itself from the other companies in the industry by offering a certain quantity of Elysian (LYS) tokens for sale at a price that is greater than the RFV.

LYS Token
Elysian Finance has introduced a Stablecoin-like token in the hopes of turning it into a token that users all over the world can make use of. LYS is a stablecoin with a value of $1 that will be backed by a smart contract that will regulate its supply and ensure that it is always available. Later on, Users who own pLYS tokens will be entitled to the ability to swap their tokens into LYS tokens. Because of this, supply and demand will be created, and the smart contract will manage all of this information. Elysian Finance intends to carry out the distribution of pLYS tokens via a token sale program, which will make it simple for consumers to acquire tokens.

Distribution Elysian Finance
After then, the Pre-Elysian (pLYS) derivative, a LYS derivative with option-inspired behavior, will be distributed in the following round. This means that for every one dollar that is released, there must be a dollar in reserve for every LYS. A single pLYS can be exchanged for one dollar of reserve asset needed to create one LYS coin, if you have enough reserve assets. If you’ve ever heard of “supply-based pricing,” you’ve probably heard of long-term investments with no set dates for when the circulating supply will be increased at random. PLYS, which operates in the same way as an option, should only be used when the stock is trading at a premium to its intrinsic value.
The pLYS supply will be replenished when the supply hits 12 percent, and early supporters, advisers, and team members will be able to claim their pLYS. There will be 120k reedemable pLYS available on a 1m supply, 1.20m reedemable pLYS available on a 10m supply, and so on.

Following is a breakdown of the pLYS distribution:
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.

Marketing and product development will be financed by the company’s revenue from the distribution of its products.. As a final outcome, this round’s purpose is to assure that the project will have long-term finance without the need for Treasury bids. Early on, a larger user base and a greater emphasis on expansion are certain. If you want a complete picture of a potential customer, join the whitelist.

Features
In addition to an upgradeable and flexible smart contract architecture, Elysian contribution offers the following features and functions:
-OTC market for bonds and inverse bonds
-Automated asset management
-Streamlined governance and NFT
-Rewards tier layered over a ve(3,3) “vote-escrow” system.

TL/DR
80,000 LYS will be offered for sale
The offering price per LYS will be $2.5
The AMM pool will begin trading at $7.48 with a $240k liquidity cushion.
Only staking will be enabled at launch. Bonds will be added successively.

Summary

Elysian Finance is now working on the creation of a backup-backed cryptocurrency for DeFi 3.0 and the decentralized web, which is one of the quite intriguing topics currently being worked on. Elysian Finance is in the process of developing a non-custodial protocol with an emphasis on algorithmic asset emission and improvements to on-chain asset management. Through the use of smart contracts, Elysian Finance offers complete transparency not only regarding a strategy’s effectiveness, but also its design and operation. By utilizing the treasury asset basket, it is guaranteed that each Elysian token (LYS) released will have a $1 value. This, in conjunction with the risk-free value (RFV), provides the token an intrinsic value and ensures that each LYS issued will always be backed by $1.

#ElysianFinance #DeFi #Eth #Etherium #LYS #DAO

For More Information Visit:

[Website]

[Github]

[Twitter]

[Discord]

[Telegram]

Actor By

Bitcointalk Username : Russell4McIntyre

BitcoinTalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=3401850

Telegram: @RussellaMicin

ETH Address : 0xCB8df6C6913e0f4e39A5Cd0ca6cbCf56526402ad

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store