Kava, BTTC and Elk helping builders with new bridges and protocol launches— Lodge Letter #65
New project Kperp.exchange prepares to launch on Kava with trading liquidity for $KPE on ElkDex. Elk’s Tron Hackathon entry is live — ElkNet on BTTC is live. Get ready to vote for us…
Tron, BTTC, voting soon
As previously mentioned, we have deployed on BTTC, BitTorrent Chain. This means BTTC is now connected to all the ElkNet-integrated chains, and all future chains.
More importantly, this provides developers and projects looking to launch protocols and tokens on BTCC access to the future of Elk. This is a future that contains Bridging-as-a-Service, Farming-as-a-Service and Cross-chain swaps (CCS). Along with other Elk Finance products, including custom solutions, we aim to connect all of DeFi.
Many of these developments are self-custodial and expand on-chain use cases, ensuring that developers can enjoy a position within the Elk Ecosystem. It won’t be a case of building USING ElkNet, but building ON ElkNet. Blockchains welcoming Elk’s fragmentation-free cross-chain tech will find themselves on the radar of the next wave of blockchain activity, DeFi with no borders. And no centralized, corrupt and frankly criminal parties controlling your and your users’ assets.
KPerp Exchange
The success of GMX is undeniable, but only being available on Arbitrum or Avalanche limits its accessibility for DeFi adventurers not on those shores. Metavault.trade ($MVX) are making great strides on Polygon with their modified fork of the GMX perpetual trading and swap platform, and KPerp Exchange have worked with Metavault to build a Kava EVM Co-Chain version for both the Cosmos community to enjoy.
The Elk future is one where blockchains are the same as the phones lines, towers and radio frequency microwaves that underpin our mobile phone technology — do you know which you’re using on your call or Insta post? Does it matter?
Until that end-game we have the delight of welcoming KPerp.Exchange to Kava. With ElkNet connecting ElkDex to all our 21 chains, the KPerp decision to add their initial liquidity for $KPE to ElkDex on Kava makes sense. Everyone is welcome to join in. If it’s leverage trading, real yield and easy swapping you are looking for on Kava Co-Chain, then KPerp is the place to go.
Following a pre-sale where they sold out with four days to spare, the $KPE token will be deployed in the coming days, with ElkDex trading scheduled to start on the 30th November.
Don’t forget that it’s easy to move your value to Kava using ElkNet from 20 other blockchains.
Read more on their official blog here: https://kperp.medium.com/the-kperp-exchange-public-presale-is-now-closed-c4aab14d6fef
Moose and ElkNet
If you want to create your own bridge using our BaaS SDK (currently in Alpha) there will be two options for projects and developers to join the party:
- Own a Moose NFT
- Stake ELK tokens
The specific requirements for these options are yet to be confirmed (how many $ELK for a key to bridging your token on ElkNet? TBC…) The goal is to ensure that Moose retains its position as a passport for cross-chain bridging using ElkNet. However, with Moose limited in numbers Elk is adamant that ElkNet is available to everyone.
Setting an “ELK-staked” parameter for ElkNet access retains the use-case promise for Moose, gives it a utility value proposition, and allows Moose holders to benefit from future bonuses, offers and benefits.
Want ElkNet for building? You want Moose.
No Moose? $ELK is your friend.
Nodes
ElkNet is not a blockchain, but it does require validators. As transactions in a decentralized bridge need to be confirmed by a multitude of participants. And these validators need incentives. When the fully-decentralized ElkNet is released there will be a need for validators to secure the network. These ecosystem contributors will be rewarded for the service they provide. Elk will encourage projects running bridges across the ElkNet to join the Elk-node-running community. After all, a vibrant and committed validator set is of huge importance to any successful permissionless system.
How many $ELK will be needed to stake on an ElkNet node is not yet confirmed, but we have time ahead of us to determine an appropriate starting number. While staking pools by validator nodes may well be part of the future landscape, finding an appropriate number of $ELK to provide sufficient decentralization (number of nodes), security (safety from 51% attack), speed and accessibility needs to be carefully considered in the run-up to ElkNet’s next chapter.
If some $ELK is good, more is better, right? And don’t forget your Moose.
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