Elk Finance is now live on IoTeX

Published on: 19.12.2021

Elk Finance (ELK) has integrated IoTeX (IOTX), a blockchain created to interface with real world digital devices, to its class-leading multichain ecosystem. IoTeX was founded as an open-source platform in 2017 with a vision for the Internet of Trusted Things (IoTT). Their mission is to ensure that people and businesses are able to control their devices along with the data and value they generate. By connecting the physical and digital worlds, IoTeX democratizes access to machine-backed DApps, assets, and services to deliver value to users and fuel the new machine economy.

IoTeX joins the Elk ecosystem as the sixteenth EVM-compatible network launched to date. Their focus on IoTT brings a unique integration that extends beyond the self-contained world of decentralized finance, establishing a durable bridge to the real world. This strategic integration places Elk in a direct alliance with one of the fastest growing sectors for cryptocurrencies, which is expected to incorporate millions, if not billions, of connected devices globally in the coming decade. Meanwhile, The 200,000+ users on IoTeX will gain access to Elk’s unmatched cross-chain services and comprehensive set of financial tools.

Starting Sunday, December 19, the Elk dApp (https://app.elk.finance/) is now live on IoTeX for trading and farming. Users can transfer ELK tokens to IoTeX via the ElkNet Bridge from any of its 15 other supported networks.

Launch Details

Visit the Elk dApp (https://app.elk.finance) while connected to the IoTeX network to trade and farm tokens on the IoTeX network. (Go to chainlist.org and search “IOTEX” to add network details to your wallet automatically).

ElkDEX will initially offer four incentivized farms on IoTeX:

To bridge non-ELK assets on IoTeX in order to pair initial liquidity with lower slippage, ioTube (https://tube.iotex.io/tube) currently offers inbound bridging from Binance Smart Chain, Polygon, and Ethereum. mimo exchange (https://mimo.exchange/#/swap) can then be used to swap native chain tokens (e.g. MATIC, BNB, ETH) or the IoTeX cross-chain token (CIOTX) to IOTX or USDT.

About IoTeX

IoTeX is a decentralized network of users, developers, and enterprises that collectively govern and utilize the IoTeX platform. As an EVM-compatible “Layer 1” blockchain, IoTeX now powers an ever-growing ecosystem of smart devices, DApps, and digital assets. Network transactions and smart contracts are fueled by the IOTX token, which also enables anyone to be a shareholder in the IoTeX Network. The IoTeX Mainnet has been running error-free since April 2019. Join our community of 100,000+ people across 100+ countries that are connected by a shared vision for the Internet of Trusted Things.

About Elk Finance

Elk Finance is a decentralized network for cross-chain liquidity. 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 powerful ElkNet framework also lets developers imagine and build novel cross-chain applications.

Elk is the most extensive multichain protocol in the world, seamlessly connecting over 15+ chains. Currently supports Avalanche, Polygon, Fantom Opera Network, Huobi ECO Chain, xDai, Binance Smart Chain, HOO Smart Chain, KuCoin Community Chain, Harmony One, OKExChain, Elastos, Moonrive, Telos & Cronos.