Elk Weekly Recap — #13

Elktober is heating up. Look out for a feature article in the coming days that will preview just some of the ways that Elk plans to be much more than a mere “bridge” protocol…

Milestones

• Liquidity increased +300k across all chains
• Transfer milestones: 3 million ELK transferred to Avalanche, 2 million ELK transferred to Polygon, 1 million ELK transferred to Fantom
• 30k total cross-chain transfers (5,800+ unique users)
• Weekly ElkNet transfers passed 1.1 million ELK

Community Happenings

• The first ever Trader Joe-Elk trading competition wrapped. (Winners to be announced via social channels shortly)
• YieldStation, a DeFi portfolio tracking utility, added support for Elk on Avalanche, Fantom, BSC, HECO, and Polygon
• Elk Academy Lesson 7 provided a deep dive on stablecoins
• Kanaloa Network ($KANA), a DeFi platform focused on user accessibility and NFTs, announced a liquidity farm on ElkDex BSC
• As part of #Elktober and #ElkSeason, Elk partnered with various projects to offer unique NFT promotions and exclusive Elk-themed content, including Whale Platoon (BSC), Chaintoadz (Avalanche), Frost-Fi (Avalanche), The Dragon’s Lair (Avalanche), and Kanaloa Network (BSC; multichain)

Elktober is underway!

We have some exciting new developments that are nearly ready for prime time, which collectively will signal the evolution of Elk from its current status as a fast and efficient bridging solution to its mature form as a DeFi gateway built atop an autonomous blockchain. Look out for a feature article in the coming days that will preview just some of the ways that Elk plans to be much more than a mere “bridge” protocol.

On the community side, we’ve been having a lot of fun tapping into the current NFT craze through exclusive releases and custom Elk-themed content. Our Moose NFTs, with their built-in utilities, should rightly be seen as a pioneering example of the current trend of providing added value to NFT holders through novel tokenomics. We plan to remain at the forefront of this trend by continuing to explore the unique potential of Moose to support the Elk ecosystem on multiple fronts.

Looking at the broader picture, while it may not seem obvious at first glance for Elk to support other NFT projects, it actually fits an integral part of our cross-chain program. At the base level, having options for buying NFTs with ELK tokens on marketplaces provides a novel use case, but that’s only a small part of their benefit.

While it is not our core product focus, the NFTs and gaming sector currently serve as one of the primary ways that users learn about new chains. Over the past week, we’ve seen multiple comments in the community channels of people saying that one of the NFT launches inspired them to leave their home base and try out a new chain. This is exactly our hope, and it shows another way that Elk is positioning itself at the forefront of our multi-chain future.

NFTs, gamification, and metaverses are still very much in their infancy, but rest assured that Elk will continue to leverage their potential as these sectors continue to develop and flourish. Can you imagine, for example, an interconnected network of community hubs for Elk throughout the metaverse? Fancy that…

• A new feature article, “Beyond the Bridge,” exploring use cases for Elk
• New #ElkSeason challenges and community airdrop
• First batch of Elk Trading Cards released to winners
• Preview of the new ElkNet Dashboard UI