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Elixir is a layer 1 DPoS modular blockchain network designed to power decentralized orderbook liquidity. It enables users to earn APR by depositing their funds into the Elixir finance, while perpetual DEXs can leverage this liquidity by integrating the network into their dApps and paying fees to the Elixir protocol.
Elixir network is powered by the native $ELX token, which is primarily used for supporting the DPoS consensus mechanism and granting access to governance voting on the platform.
During its seed funding round, the Elixir crypto startup raised $2.1M from investors including Arthur Hayes, FalconX, Commonwealth, OP Crypto, and ChapterOne.