Elk Weekly Recap — #29

Elk launches an official YouTube channel & social metrics are on the rise across the board. Plus: The Team Desk takes a look at $ELK tokenomics. Read on…

Protocol & Partnership News

• 🧶 Looming Partnerships. We announced a partnership with Weave Financial, a multi-chain protocol for copy trading (replicating portfolio allocations from peer accounts). Details of the partnership will be revealed soon
• 🔥 Fire Rewards. We doubled down on our popular DCAU-ELK dual-rewards farm, adding a 2 DCAU/day boost for the rest of this farming round. Farm your DCAU now before the hugely anticipated release of blockchain RPG Legend of Draconis Aurum

Community Happenings & Milestones

• 📺 Tune In. The Official Elk Finance YouTube channel went live. Watch tutorials, listen to the Elk Finance Podcast, and browse a curated collection of community content. Don’t forget to Subscribe!
• 🇩🇪 Prost! A new community YouTube video provided an overview of Elk for German speakers
• ✍️ Mai, Mai, Mai. Our new stablecoin farming partner Mai Finance added a great “How To Farm ElkNet” tutorial to their official Docs
• 🇪🇸 Elk en Español. Our Head of Community, Pedro (@0x_Pedr0), participated in an AMA for the Spanish Avalanche community on Telegram
• 👶 Got Alpha? Pedro also stopped by the Alpha Society community discord to drop some hints about Elk’s 2022 roadmap
• 🦌 Network Effects. Social metrics have risen in the past few weeks across channels. Twitter blew past 15,000 followers, while Telegram saw a 20% increase

There’s been a noticeable uptick in followers across all of our social media channels over the past several weeks. Our official Twitter account is up almost 20%, hitting 16,600 followers at the time of this post. Our Telegram added another 500 members, roughly another 20% increase over the past month. As everyone in DeFi knows, crypto is a game of attention.

With dozens of projects (and project forks) launching every day, it can feel like a full-time job trying to keep up with where yield seekers are moving to capitalize on the next trend. For our part, we try to stay ahead of the curve by giving our community first mover advantage on up-and-coming chains and providing a dynamic roster of unique farm offerings and partnerships across all of our networks.

Elk also goes against the grain of most new and existing entrants in DeFi by offering sustainable tokenomics. The most common questions we get from newcomers to our chat forums involve our token supply and emissions schedule. We often point people to the handy Elk Dashboard (dashboard.elk.finance), which gives a snapshot of circulating supply, price, and transfers across all 16 networks. We also like to emphasize that $ELK token is not merely a reward or governance token (though it is both), but the very lifeblood of the Elk ecosystem, such that its value is ultimately tied more to utility than speculation.

But it’s also instructive to look at the more basic tokenomic profile, which demonstrates that Elk is here for the long haul. The max supply of $ELK tokens is around 42 million, which will slowly be released over the next decade. Our total supply is thus roughly 2x BTC’s total supply. There are currently around 5 million $ELK in circulation across all chains, which means that almost 90% of our tokens have yet to enter circulation.

Much like BTC, our emissions also undergo an annual halving event, meaning that the amount of new $ELK released into the ecosystem declines over time. The first halving event is set to take place in mid March, which means that in the not-so-distant future, $ELK will be twice as hard to come by as it is now.

• 📈Exciting Options Ahead. Tomorrow (Feb. 1) our partners at Hedgey Finance are launching $ELK Treasury Pools, a cool new way to long the future price of $ELK tokens through covered calls
• 🍹Get Social. Our fun Friday Night Social continues in the Telegram Elk Lodge, every Friday at 0030 UTC