Cross-chain Transfers and the Road to Elk Mainnet.

ElkNet will make it possible to transfer $ELK between Avalanche, Polygon, Fantom, HECO, and every chain they add in the future.

For the initial phase, there will be a limit of 100 $ELK per transaction. This will give the community a chance to test out the cross-chain transfer function while we closely monitor ElkNet and the financial health of each chain.

ElkNet Guarantee

They are confident in the ElkNet technology, but new protocols invariably need refining. For the initial phase, we are backing transfers on ElkNet with a guarantee against any lost or stuck funds up to the transfer limit of a single transaction (100 $ELK, initially).

If a transfer fails, they will fully refund it. This guarantee covers one transaction per wallet. Once we grow confident in the network’s stability and raise the transfer limits, this coverage will also increase.

About Elk Finance

Elk Finance is a decentralized network for cross-chain liquidity. The Elk ecosystem makes it seamless for anyone to move value and exchange cryptocurrencies across blockchains more quickly and securely, all at a low cost.

Elk’s robust and intuitive architecture also allows developers to build and integrate smart contracts and DeFi applications on top of the Elk platform in order to leverage its cross-chain functionality.

About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 450+ Dapps, 350M+ txns, and ~13.5M+ distinct users.

⬇️DETAILS:

https://elk-finance.medium.com/cross-chain-swaps-and-elk-mainnet-roadmap-ac9d48095341