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Elk Weekly Recap — #9

Roland Rood
Elk Finance
Published in
4 min readSep 13, 2021

A brand new farming round is underway on ElkDex, with new incentives and a fresh start for ILP coverage across all networks. Read on to learn why this promises to be the most exciting farming cycle yet…

Autumn is just around the corner. If you’re fortunate enough to live in an area where the weather changes with the seasons, you may have already felt that first unmistakable breeze that reminds us summer is nearly over. Due to the popularity of the hashtag #DeFiSummer, we tend to associate the summer months with hot markets alongside hot weather.

Fall, however, is unequivocally the best season. Not just due to sweaters and decorative gourds; historically, it has also aligned with some of the biggest periods of growth in crypto. With the flurry of new funding programs across competing networks, there’s good reason to believe the pattern will continue this season.

The approach of a new season also brings to mind the many benefits of natural cycles. One of the many features that sets Elk apart from other projects is our unique farming rounds, which last for 42 days. This past Saturday, Farming Round #7 launched, which will carry us through mid-October. Newcomers to the Elk community often ask why we structure things this way. Admittedly, it creates a little extra work for the community as well as our team, since new contracts need to be deployed, requiring users to migrate LP tokens to the new farms.

But the multiple benefits of the system reflect the things that make Elk unique as an emerging blockchain. For starters, each new round resets the clock on Impermanent Loss Protection (ILP), giving everyone a chance to earn full coverage by staking on our farms. Since Elk is now launching on multiple new chains during each round, these cycles give new community members a chance to take full advantage of one of our most popular (and rewarding) programs.

There are other benefits too. At the start of each round, we are able to reassess the value across all of our farms and adjust emissions to meet our goals and reflect usage on the platform. This ensures that Elk rewards are distributed equitably amongst our community members and rewards the farms that see the most use on the platform. Each reset also gives us a chance to roll out new farms as we explore partnerships and attract fresh investors to the community.

Above all, however, these 42-day cycles give Elk a reliable rhythm. With the advent of DeFi, finance is now a 24-hour affair. It can be hard to take a break or even look away, for fear of missing a new opportunity. This, of course, is part of the fun. Having a regular cycle to follow, where we can look back on milestones achieved as we move forward is a benefit in itself.

The last cycle brought an incredible list of milestones, with new chain launches, ElkNet transfers, and new TVL targets across every chain. What will this new cycle bring? It’s shaping up to be historic, with a huge list of new features, chains, and partnerships on the near horizon. You might consider setting a calendar reminder for October 23, the end date of the new round, to reflect on just how far we’ll have travelled in 42 short days…

  • Article exploring use cases for the $ELK token
  • Overdue airdrops for Strong Holders and deferred AVAX Moose will be distributed
  • Further improvements to ElkNet
Weekly Update
Defi
Nft
Yield Farming
Cryptocurrency

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Roland Rood
Elk Finance

Written by Roland Rood

140 Followers
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Lead Writer at Elk Finance

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