Elk Finance to launch on Ethereum
ElkNet, a bridge that connects 16 EVM blockchains, aims to bring Elk interoperability to the original smart contract network.
DeFi started on Ethereum back in 2015, a veritable aeon ago in cryptocurrency terms. Since then, a plethora of innovations, opportunities and incredible growth has been witnessed and driven by the enthusiastic efforts of developers, visionaries, and, importantly, users of the nascent and changing protocols that now make up the smorgasbord that is DeFi in 2022.
Elk Finance, founded in 2021 by a systems architect and early blockchain adopter, Baal, identified a need for the ever-growing number of public blockchains to be able to interact with one another in a safe and secure fashion. The last seven years have seen fortunes made and lost in the blink of an eye, and the “Wild West” nature of digital decentralized banking has had more than its fair share of bad press with regards to security issues for those moving funds between protocols, especially cross-chain.
Such security and safety concerns need to be addressed, so ElkNet was developed. And honed. And expanded to include more blockchains. And now recently upgraded once again. No $ELK has been lost since ElkNet opened the road for cross-chain $ELK transfers.
This most recent Elk token and ElkNet upgrades are the most significant change since the first $ELK was transferred from one chain to another. But why? One word, one chain, one inspiration…
Soon cross-chain transfers to and from Ethereum will be available to Elk users, via the ElkNet, where $ELK can be sent to any connected chain, 1:1, for a nominal fee. We know it has been on the wishlist of many Elk supporters for some time, and now, with the coding enhancements, efficiency improvements, and fledgling governance mechanisms being lined up, it is time.
But when? “When” I hear you say! When?
Ethereum will be added to the ElkNet this Spring. We are aiming to raise the barrier, and start the $ELK flowing, on the 30th of April, 2022.
And we’re excited.
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