Elys Network $5M On-Chain Liquidity Milestone Achieved!

I'm thrilled to announce that Elys Network's On-Chain Liquidity surpassed $5 Million ($7 Million in Total Value Locked when including ELYS token staking), achieving this milestone less than 5 months after launch! This is remarkable given the challenging and volatile market that we have been navigating through this journey. I'm grateful to our investors, our users, and our supporters for being with us on this journey as we continue to build momentum and roll out exciting new Defi features. 

Here are some user statistics for the Elys DeFi App:

• 5,000 Daily active users (DAU)
• 40,000 Monthly active users (MAU)
• 6.5 minute average engagement time

Elys Network's Market Advantage

• Proprietary Liquidity Pools: Smart Shielded Liquidity Pools have provided an amazing level of outperformance for liquidity providers compared to standard AMM pools. Our design has worked so well that we made the decision to license the code so that competitors cannot fork or copy it for a period of 3 years without obtaining a license from us.
• Ethereum connection via IBC Eureka: We launched wrapped BTC, ETH, and PAXG trading on Elys thanks to the rollout of IBC Eureka, a connection that allows users to bring assets over from Ethereum for less than $1! The results have been quite eye opening, with over $1.5 Million in assets flowing in from Ethereum in just a few weeks.
• Vaults: we recently launched single token vaults. Users deposit tokens into the vaults to earn a combined yield of 45% APR or more (EDEN, USDC, and vault token), generating significant excitement. We recently won a Hydro auction, which will deploy an additional $850K of ATOM into the Elys vault, which already contains approximately $1M ATOM. Users borrow from the vaults to take on leverage LP positions.

What's Next?

We have an ambitious roadmap as we have our sights set on the next milestone of $10M in liquidity, and then $20M after that. Here's how we plan to achieve it:

• Skip.Go Integration: We are days away from Elys token swap integration on the highly popular  swap aggregator platform. In a recent evaluation, token swaps on Elys outperformed existing swaps on Skip.go at least 30% of the time, meaning we could see exponential volume growth of swaps that route through Elys
• XRP Token listing: XRP is coming to Elys! We're working with our bridge provider now in testnet and expect to list XRP on the coming weeks, adding liquidity pools and vaults.
• Perpetual Trading: We opened our whitelist application for the initial perpetual trading users, which we expect to launch in the next 2-3 weeks. This will be a major revenue driver for Elys.
• Order Book andPrediction Trading: we are in advanced stages of our order book coding and expect to release that in the coming quarter. This will serve as the baseline structure for prediction markets, which will be the only prediction platform directly available for Cosmos (ATOM) users, giving us first-mover advantage. We are in talks with Interchain Labs at Cosmos to be the official Prediction trading platform of the Cosmos Hub.

We have many more items on our roadmap, such as AI trading tools and automated vault management, Real World Asset listings, and even a yield bearing stablecoin! Look for more information on those on the coming months. 

Please continue to provide us your feedback and let us know what you'd like to see on the Elys DeFi App. We're always working to improve the user experience, and we will keep taking the industry by storm with our innovative approach to making DeFi accessible for all. Thank you again for everything you do to support, and let's get it 🔥.

Sincerely 

Hesham Aly

Elys Network co-Founder

hesham@elys.network