Elixir Crypto Network (ELX)

Elixir finance is a next-generation market-making protocol for decentralized order book DEXs and a synthetic dollar protocol featuring its own $deUSD stablecoin.

It enables users to contribute their funds into various token pairs to power the network’s liquidity and earn APR. Meanwhile, order book exchanges can integrate Elixir network into their dApps and receive liquidity from the network while paying fees to the platform. Focused on security and accurate liquidity provision, Elixir network consists of three main components:

1. Connectors:
   Through websockets, Elixir protocol receives low-latency updates on trades, positions, and order books of integrated exchanges to provide liquidity to order books in the needed portions and pairs as well as verify the honesty and accuracy of data flowing throughout the network.
2. Validators:
   Nodes play a crucial role in validating, executing, and managing staking, rewards, bond pools, and slashing, as well as reaching consensus on the Elixir protocol. It is powered by the DPoS consensus mechanism, allowing users to delegate $ELX tokens to the node runners.
3.  Auditors and Controllers:
   Auditors supervise the work of Elixir validators. When detecting malicious activity, the auditor submits a report to the controller and gets rewarded with a part of the validator’s staking rewards. Once the malicious activity is confirmed, Elixir crypto network determines the right output based on the available data, while the controller executes the appropriate actions based on the protocol’s computations.
4. Stablecoin $deUSD
   $deUSD is a synthetic dollar of Elixir protocol that implements complex delta-hedging trading strategy to backup its stablecoin. It plays a vital role in the economic infrastructure of the Elixir finance as $deUSD is preferred collateral for deposits to the Elixir-powered exchanges. 

Read more information about Elixir's infrastructure in its docs.

🪙 Elixir finance token ($ELX): The Elixir L1 blockchain is powered by the utility and governance token $ELX, which drives the DPoS consensus mechanism and DAO layer of the platform, according to the protocol’s docs. Yet, the token economy, its release date, as well as requirements and details about the Elixir airdrop remain undisclosed.

However, Elixir is currently running the second phase of its potions farming campaign, which you can join by contributing funds to the network. Given the growing interest among the crypto community in the Elixir network, the CoinLaunch team conducted an in-depth research of the Elixir crypto project.

✅ Elixir pros:

• Highly demanded product in the market as the decentralized orderbook exchanges industry is growing inexorably;
• Presence of security audits and bug bounty programs from multiple tier 1 companies, including Trail of Bits, Quantstamp, and ImmuneFi;
• Very high Influencer Marketing score;
• Great SMM, PR, and Growth marketing performance;
• Diverse ecosystem and network of top-tier partners;
• Significant amount of funds raised for a market-making protocol (over $17.4M), despite the lack of involvement from top-tier funds.

❌ Elixir cons:

• No roadmap;
• Lack of investment from top-tier funds;
• Below-average SEO performance;
• Very weak Marketing Infrastructure;
• Lack of work experience in top-tier web3 companies.