Ethereum: Saturday 30th April 2000 UTC

Elk Finance prepares to deploy their ElkNet cross-chain protocol on Ethereum, paving the way for interoperability solutions into the longest-running and largest smart contract ecosystem

What? When? Fees? Liquidity? Moose airdrops? What else?

So many questions, and it’s nearly go time. We’ve seen chains added to the ElkNet before, so it’s really just another launch day for Elk. Having said that, there are some considerations that have to be addressed before we open the gates.

TL;DR: Sat Apr 30 ~2000 UTC, fees ~20 ELK, liquidity bootstrapped from BNB Moose sales, Moose airdrops on another chain to save gas, ETH-ELK farm from the start, ILP for LP over 42 day periods only.

What is ElkNet?

ElkNet is the Elk cross-chain bridge that connects Avalanche, BNB Chain, Cronos, Elastos, Fantom, Fuse, Gnosis, Harmony, HSC, HECO, IoTeX, KCC, Moonriver, OKC, Telos. $ELK can be transferred between all these chains 1:1, fast.

When can I ElkNet my ELK to Ethereum?

We are aiming to enable Elk on Ethereum in the early evening on the 30th. 2000 UTC is the target.

This will be for the ElkNet connection, the ElkDEX and farming.

What will the ElkNet fees be?

This will be highly dependent on network conditions. Never before has ElkNet (our cross-chain bridge) had to run on a chain with such volatile gas pricing. Particularly when the market is its present turbulent state.

We are expecting a fee of around 20 ELK at current prices.

What initial liquidity can we expect?

Following the BNB Chain Moose sale we earmarked those funds for this launch. Therefore there will be a liquidity bootstrap in place on the Ethereum ElkDEX.

There will also be an ELK/ETH farm available from launch. This will be the only farm available on our Ethereum offering at this time. Also, the Impermanent Loss Protection will be available to those who stay in for the entire vesting period (42 days) to receive any ILP. No partial vesting is available as it will just cost too much in gas for it to be viable.

Will Moose holders get ELK airdrops?

Again, with the well-documented exorbitant gas fees that Ethereum levies for transactions, all the airdrops that Moose are entitled to will be sent on a chain with lower distribution costs. This timing of this airdrop will be announced in due course.