Elk Weekly Recap — #5
ElkDex passed $2M in total liquidity this past week, in advance of the dual launch on BSC and xDai this coming Wednesday. Read on for notes on other happenings from the past week.
Week in review
- A dual launch on BSC + xDai chains was announced for Wednesday, 18 August 2021
- The first series of 100 limited edition HECO Moose sold out in 7 minutes. Proceeds will support initial liquidity on BSC and xDai
- Elk hosted an AMA with Golff Finance (HECO, BSC, Ethereum)
- Elk Academy Lesson #3 on Defi Tokenomics debuted
- Huobi Wallet added tracking for Elk Finance on their dApp
- Elk Finance was added to crypto indexing site nomics.com
- The official Elk Finance Reddit page received an overhaul
- Elk Finance Medium got an upgrade too
- Telegram channels were added for Italian (https://t.me/elk_finance_italia) and French (https://t.me/elk_finance_francais) community members
The Team Desk
Slowly, then all at once.
Whether it’s falling in love or bankruptcy, the principle applies to many areas of our personal and financial lives. For Elk, we’ve been building the platform and organically growing our community day by day, and the table seems set for something remarkable.
We typically don’t focus on things like token price or TVL in these notes, but there are some hints lurking in plain sight: this past week we surpassed $2M in aggregate liquidity across our existing chains. Trade volume ticked up across the board, with especially remarkable numbers on HECO. Overall market sentiment seems to be improving apace as well.
On Wednesday, ElkNet will expand to six chains with the addition of BSC and xDai. To think about this another way, ElkNet will soon offer 15 individual pathways for bridging value between DeFi networks. What’s more, over half of those paths are not currently supported by any other bridge, making them the single point of direct exchange between those chains (Avalanche <> xDai, anyone?).
It’s of course impossible to tell exactly when a breakout event will happen. These solid links, however, assure the vitality of ElkNet by providing something often claimed but more rarely earned in crypto: real utility. We’re as excited for the launch as you are, but we’re also already looking beyond it as well.
We keep building.
The week ahead
- The ElkDex User Interface (UI) will be receiving an upgrade, the first step in a more comprehensive redesign of the Elk website and dApp. Look out for teasers and an article discussing the rethemed UI and larger plans for the complete redesign
- Tin.Network, a DeFi portfolio manager, will be adding support for ELK token and ElkDex farms on HECO, Polygon & Fantom
- Elk will launch a new podcast, All Things Crypto!
