NextGen oracle-based Decentralized Perpetual Trading and Leverage Lending platform, featuring ETF style multi-asset Index Pools. Highly Scal
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NextGen oracle-based Decentralized Perpetual Trading and Leverage Lending platform, featuring ETF style multi-asset Index Pools. Highly Scal
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Elys NetworkElys Network Announces Full Transition to Base
Over the last eight months, Elys Network has built, innovated, and learned — with our community at the heart of everything. We also know it hasn’t been an easy journey. Markets have been tough, ELYS has seen challenges, and many of you have stood by us even when it wasn’t easy. That loyalty matters — and it’s why we’re making this next move with you, and above all, for you. Today, we’re announcing that Elys Network will transition from the Cosmos ecosystem to Ethereum’s Base network — under a...
Elys NetworkElys Network: Reworked Tokenomics & Airdrop
After much anticipation, we’re excited to unveil the revamped tokenomics and airdrop plan.Table of contents:Elys Network JourneyUpdated Tokenomics BreakdownUpdated Airdrop DetailsReward Center OverviewElys Network JourneyA Quick Recap:Elys Network was built with one simple goal: to fix DeFi. We’ve created an environment where:Impermanent loss is no longer a concern, allowing liquidity providers to embrace volatility in their pools and utilize stablecoins without fear.Rewards are distributed i...
Elys NetworkIntroducing Our Second NFT Airdrop to reward Testnet users
Today is the day we announce the list of wallets eligible for the Phase 2 NFT mint! We are thrilled to see such strong engagement from the community. It's important to note that many of you have completed an impressive number of quests. The maximum possible interactions during the entire testnet period was 813, and one dedicated individual managed to complete all 813 interactions over the 8 months of the testnet. That’s an incredible achievement!Key Highlights of This Phase:This phase pl...
Elys NetworkElys Network Announces Full Transition to Base
Over the last eight months, Elys Network has built, innovated, and learned — with our community at the heart of everything. We also know it hasn’t been an easy journey. Markets have been tough, ELYS has seen challenges, and many of you have stood by us even when it wasn’t easy. That loyalty matters — and it’s why we’re making this next move with you, and above all, for you. Today, we’re announcing that Elys Network will transition from the Cosmos ecosystem to Ethereum’s Base network — under a...
Elys NetworkElys Network: Reworked Tokenomics & Airdrop
After much anticipation, we’re excited to unveil the revamped tokenomics and airdrop plan.Table of contents:Elys Network JourneyUpdated Tokenomics BreakdownUpdated Airdrop DetailsReward Center OverviewElys Network JourneyA Quick Recap:Elys Network was built with one simple goal: to fix DeFi. We’ve created an environment where:Impermanent loss is no longer a concern, allowing liquidity providers to embrace volatility in their pools and utilize stablecoins without fear.Rewards are distributed i...
Elys NetworkIntroducing Our Second NFT Airdrop to reward Testnet users
Today is the day we announce the list of wallets eligible for the Phase 2 NFT mint! We are thrilled to see such strong engagement from the community. It's important to note that many of you have completed an impressive number of quests. The maximum possible interactions during the entire testnet period was 813, and one dedicated individual managed to complete all 813 interactions over the 8 months of the testnet. That’s an incredible achievement!Key Highlights of This Phase:This phase pl...
>2.2K subscribers
>2.2K subscribers
It’s now been two months since we announced our migration to Base, and while we’ve been sharing regular updates on Discord, it’s time to give everyone a full overview here!
Our announcement was met with an incredible response from our community, and since then, we’ve been working hard to make this new journey a reality as quickly as possible.
As development accelerates and our team continues to evolve to meet EVM requirements, it’s the right moment to share where we stand and what comes next.
The project is progressing smoothly and quickly:
The Smart-Shielded Pools code is complete, currently in testing, and entering the audit phase.
The frontend is under active development and advancing fast.
The Perpetual DEX is also in development and will enter the audit phase shortly.
Audits will play a key role in determining when we can officially launch on mainnet.
We’re moving forward on several fronts simultaneously, including:
Product development
Legal structure
Key partnerships
Core integrations
Tokenomics and go-to-market parameters
With all these elements coming together, we’re getting closer to being able to share a potential launch timeline. Before that, we must begin the final steps leading to the sunset of the Elys Network chain.
Phase 1: Reduce inflation to 0% through the next governance vote and ask users to remove any remaining Leverage LP and Perpetual positions. Second and last snapshot taken at the time of this announcement. Ratio, block heights to be given later once snapshots data will be fully analyzed.
Phase 2: Close Leverage LP and Perpetual positions using ADL.
Phase 3: Withdraw remaining liquidity from pools.
Phase 4: Elys Network chain sunset on December 18th
Phase 5: Ryze Protocol launch, token swap, timeline to be given once audits will be finalized.
Today, we’re asking users to start closing their Leverage LP positions and to stop opening new Perpetual positions.
To simplify this process, an Automatic Deleveraging (ADL) tool has been developed and will be proposed through governance, allowing automatic position closure for users who haven’t done so manually during phase 1 when phase 2 (end of November) will start.
The final shutdown of the Elys Network chain will take place on December 18th and the final snapshot for token holders has been done already. From now on, you can’t acquire new ELYS tokens.
⚠️**Important note: Every ELYS sold after today will be removed from your snapshot allocation. You have to keep your ELYS / EDEN and if you want to be part of the next journey with us.**⚠️
We’re getting closer every day to the launch of Ryze Protocol on Base. More information including details about the token swap mechanism, tokenomics, Launch phases and much more will be shared as soon as we are ready.
We’re beyond excited for what’s coming next and can’t wait to open this new chapter with you.
Today: Inflation set to 0% coming with the next governance proposal + request to close Leverage LP and Perpetual positions. Second and last snapshot done.
Next phase (end of November): Deployment of ADL to automatically close all outstanding positions and guarantee full removal of remaining liquidity.
Final phase (December 18th): Official sunset of the Elys Network chain.
Thank you for believing in us. You are the foundation of this journey, and we can’t wait for you to experience our App on Base.
The whole team is working relentlessly to deliver something truly exceptional.🫡
It’s now been two months since we announced our migration to Base, and while we’ve been sharing regular updates on Discord, it’s time to give everyone a full overview here!
Our announcement was met with an incredible response from our community, and since then, we’ve been working hard to make this new journey a reality as quickly as possible.
As development accelerates and our team continues to evolve to meet EVM requirements, it’s the right moment to share where we stand and what comes next.
The project is progressing smoothly and quickly:
The Smart-Shielded Pools code is complete, currently in testing, and entering the audit phase.
The frontend is under active development and advancing fast.
The Perpetual DEX is also in development and will enter the audit phase shortly.
Audits will play a key role in determining when we can officially launch on mainnet.
We’re moving forward on several fronts simultaneously, including:
Product development
Legal structure
Key partnerships
Core integrations
Tokenomics and go-to-market parameters
With all these elements coming together, we’re getting closer to being able to share a potential launch timeline. Before that, we must begin the final steps leading to the sunset of the Elys Network chain.
Phase 1: Reduce inflation to 0% through the next governance vote and ask users to remove any remaining Leverage LP and Perpetual positions. Second and last snapshot taken at the time of this announcement. Ratio, block heights to be given later once snapshots data will be fully analyzed.
Phase 2: Close Leverage LP and Perpetual positions using ADL.
Phase 3: Withdraw remaining liquidity from pools.
Phase 4: Elys Network chain sunset on December 18th
Phase 5: Ryze Protocol launch, token swap, timeline to be given once audits will be finalized.
Today, we’re asking users to start closing their Leverage LP positions and to stop opening new Perpetual positions.
To simplify this process, an Automatic Deleveraging (ADL) tool has been developed and will be proposed through governance, allowing automatic position closure for users who haven’t done so manually during phase 1 when phase 2 (end of November) will start.
The final shutdown of the Elys Network chain will take place on December 18th and the final snapshot for token holders has been done already. From now on, you can’t acquire new ELYS tokens.
⚠️**Important note: Every ELYS sold after today will be removed from your snapshot allocation. You have to keep your ELYS / EDEN and if you want to be part of the next journey with us.**⚠️
We’re getting closer every day to the launch of Ryze Protocol on Base. More information including details about the token swap mechanism, tokenomics, Launch phases and much more will be shared as soon as we are ready.
We’re beyond excited for what’s coming next and can’t wait to open this new chapter with you.
Today: Inflation set to 0% coming with the next governance proposal + request to close Leverage LP and Perpetual positions. Second and last snapshot done.
Next phase (end of November): Deployment of ADL to automatically close all outstanding positions and guarantee full removal of remaining liquidity.
Final phase (December 18th): Official sunset of the Elys Network chain.
Thank you for believing in us. You are the foundation of this journey, and we can’t wait for you to experience our App on Base.
The whole team is working relentlessly to deliver something truly exceptional.🫡
1 comment
I can't wait..