Elys Network is integrating with Picasso’s IBC Hub to connect to Solana

We are excited to announce a strategic collaboration between Elys Network and Picasso. This partnership involves integrating Elys into Picasso’s IBC hub via testnet, preparing for full connectivity at Elys Network’s mainnet launch. The primary focus is on exploring new opportunities for asset cross-pollination between Solana and Elys Network.

About Elys Network

Elys Network is a unified DeFi Appchain that provides a full-featured decentralized exchange accessible through the Elys WebApp, currently in testnet. It supports token swaps, USDC-paired liquidity pools, perpetual trading, and staking options. The platform aims to create a robust ecosystem where users can leverage and stake assets like BTC, ETH, and via the integration with Picasso, SOL.

Integration with Picasso Network

Elys Network will integrate Picasso’s Solana (SOL) IBC connectivity directly into its WebApp, enabling:

• Deposit and withdrawal of SOL via IBC relay.
• SOL/USDC liquidity pools.
• SOL staking for potential leverage LP or lending functions.

Cross-Pollination Plans

Both teams are exploring various strategies to benefit both communities and token holders, such as:

• Potential integration of Picasso’s IBCFT for Elys’ native token once live.
• Cross-pollination of assets between Solana and Elys DEX via dedicated pools.

Educational and Exploratory Initiatives

As part of this partnership, both teams will focus on educating their respective communities about the benefits and new opportunities arising from this collaboration. We aim to enhance understanding and engagement, ensuring that token holders and community members can fully leverage the expanded functionalities.

We are enthusiastic about the collaborative possibilities this partnership brings and look forward to the positive impact it will have on our collective communities.