Elk Weekly Recap — #18
A 6-month cycle of xDai network incentives — featuring boosted dual-token rewards, new farms, and community events — gets underway this week. Read for details and more network news…
Protocol News
- Elk received a grant for up to $125,000 from the xDai Ecosystem Fund, which will be used to add dual-token incentives to xDai farms for 6 months
- To solve network clogging on the newly launched Cronos chain, Elk launched a custom RPC for community https://cronos-rpc.elk.finance #ElkCanHelp
- Our recent feature article “Beyond the Bridge” was featured in Yahoo! Finance and MarketWatch
- A lengthy list of network sponsors were announced for Elk Rush: xDai
Community & Partnership Happenings
- A new farm debuted on Avalanche for Dragon Crypto Gaming (DCAU)
- A new episode of All About Crypto: An Elk.Finance Podcast dove into one of the great hidden uses for Elk: chain arbitrage
- Elk Trading Card NFTs were added as a verified collection to the YetiSwap NFT marketplace
- DeFiLlama added tracking and charts for ElkDEX on Hoo, Elastos, Moonriver, OKExChain, Harmony, and KCC
- DEX Screener added tracking for ElkDEX on Cronos
- Tin.Network expanded its portfolio tracker to include Elk on Cronos
ElkDEX & ElkNet Milestones
- Within one week of launching on Cronos, daily trade volume surpassed $1 million
- Liquidity and trade volume reached all-time highs on our Binance DEX
- Avalanche and Polygon DEX also reached new records for liquidity
- Avaxholic reported that Elk scored among the top platforms for weekly volume
The Elk Lodge is giddy with excitement over our first major single-chain development initiative, Elk Rush: xDai, which kicks off this Wednesday, November 17 (for those in the know…quite an auspicious start date, wouldn’t you say?).
The fun started last Thursday, when we announced that we won a grant from the xDai Ecosystem Fund, which will add up to $125,000 in additional farming incentives on xDai over the next 6-months. As a community-oriented project, we were especially proud that this grant was approved through a community governance vote through xDai’s public forums.
The additional incentives will more than double the rewards rate on our most critical xDai farms. But why stop there? In order to take full advantage of xDai’s generosity, we’ve asked our friends and partners on xDai to join the fun, which we previewed this morning. Over the next few weeks, we’ll be highlighting projects throughout the xDai ecosystem through events, new farms, and rewards boosts on our existing farms.
The first edition of Elk Rush begins this Wednesday.
Not on xDai? No problem. Use ElkNet (https://app.elk.finance/#/elknet) to transfer funds from any of our 13 other chains, and join the festivities.
Can you really afford not to?
- Agave (xDai) will host an AMA with Elk on the Agave Discord this Wednesday, November 18 @ 18:30 UTC
- xDAI-ELK and STAKE-ELK farms will receive the first Elk Rush: xDai dual-token (ELK & STAKE) boosts on Wednesday
- More Elk Rush: xDai announcements!
- Details about BSC Moose sale
