Elk Finance
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Elk Finance

Statement on Cronos

Due to continuing instability on the Cronos chain, we have decided to delay the deployment of ElkNet v2 farming and staking to Cronos network until further notice. Backlogs of transfers to and from Cronos have been slowing down our entire network for several weeks, and during the recent ElkNet v2 upgrade, deployment and syncing issues on Cronos also resulted in a delay of several hours for our launch event and would have made it impossible to offer accurate analytics and ILP calculations.

These issues have resulted in a significant burden on our developers and moderators. Rather than offering degraded service, we’ve decided to pause until the issues are resolved.

For now, ElkNet v2 will continue to support Cronos for cross-chain transfers, as ElkNet can perform the safety checks necessary to guarantee funds, but users should be aware that there will likely be significant price impacts until farms are redeployed. ElkNet v1 will continue to service Cronos through April 24.

We are in contact with the Cronos team and have shared a detailed report of the errors and rate-limiting issues we are seeing from their network. Cronos is among our most popular emerging networks and a valued network partner, so we are doing everything in our power to assist them in implementing a permanent fix to their network as quickly as possible.



ElkNet, its cutting-edge multi-chain protocol, makes it easy for anyone to move value and exchange cryptocurrencies across blockchains quickly and securely at a low cost. The ElkNet framework also lets developers imagine and build novel cross-chain applications.

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