Lodge Letter #54

Steady she goes. No dramas. No disasters. Other bridges got hacked. Elk didn’t. Again.

What do we want?

BaaS, and partners, and cross-chain swaps, and users, and higher APRs, and protocol owned liquidity, and more chains, and $CHFT, and ElkLabs incorporation, and decentralization, and nodes, and $MOOSE and $ELK17 (other higher numbers are available).

When do we want it?

Now? Or soon? Or when it’s safu and ready?

Check the Outlook section for, well, some outlooking thoughts.

TikTok? Go on, take the plunge!

Elk has been having some fun with TikTok for sure. But how about some community efforts? Can you match Snake’s winning smile? Or his pro-level editing? Make your vid, tag it #elkfinance #defi and let’s get your efforts out in the wild, where the Elk love to be!

Enjoy the below samples for some inspiration

https://www.tiktok.com/@elk.finance/video/7127460696161307910

https://www.tiktok.com/@elk.finance/video/7120666355614911750

https://www.tiktok.com/@elk.finance/video/7112907088115928326

Informative or ridiculous, slick or saucy — it doesn’t matter! Have some fun.

A reminder of what’s cooking in the halls of Elk Towers

What is a goal Elk that is working towards?

Increased volume on ElkNet that generates revenue that can be distributed to increase end-user bridging viability. Talks, deals and technical considerations are underway to bring this goal to fruition.

What does this look like?

A sprinkling of partner projects adding liquidity to support their ecosystem token for higher-value/lower-friction cross-chain swaps, and a couple of yield and liquidity management projects to further deepen the pools (Stag is one, others are secret). Once in place then all of a sudden Elk can make more waves.

Furthermore, protocols building bridges BaaS-style while alpha-testing the ElkNet will highlight areas for improvement. This will allow Elk and our closest partners to best serve the most important part of DeFi — Web3 journeymen and women. With more projects looking to go cross-chain, and bridges continually failing to hang on to funds entrusted to them by their ecosystems, users and partners, Elk is holding the somewhat unenviable position of being hack-free.

Enviable surely?

It is critical that we apply the adage of “do it once and do it right”. In no other Web3 area is this more important right now. And we make no apologies for being careful with rolling out changes and features. As the ElkNet matures and increased volume flows through the ElkNet, providing valuable revenue for ElkNet node validators, Elk LPers, ElkNet BaaS customers, BaaS projects themselves and ElkLabs, the target drawn on our safu bridge’s back gets larger and more inviting.

Yes it’s great to be exploit - free, and we are doing all we can to maintain this record.

In order to satisfy three obvious “S” goals - safety, speed, and seamlessness, we have to adhere to another three - sedulous, secure, and sensible working practices.

Baal and his team are meticulously crafting how the bridge improves, while business development and marketing are focused on partnerships, liquidity and product improvements. The efforts made now ensure that we can all enjoy more revenue streams opening up, and, most importantly, share Elk’s growth.

The future looks Elky.