What is Elixir?
Elixir is a modular Delegated Proof of Stake (DPoS) network specifically designed to enhance orderbook liquidity across decentralized exchanges. As a new primitive in the decentralized finance (DeFi) sector, Elixir allows users to deploy liquidity to various trading pairs and exchanges, facilitating trustless interactions and boosting overall market efficiency. Additionally, Elixir is cross-chain and composable, enabling orderbook decentralized exchanges (DEXs) to natively integrate Elixir into their core infrastructure to unlock retail liquidity for pairs and other exciting use cases. The network serves as crucial underlying infrastructure, allowing exchanges and protocols to easily bootstrap liquidity into their books.
The Elixir Network is engineered for high performance and reliability, featuring a block time of just 0.86 seconds, which ensures rapid transaction processing. The network can handle a throughput of 395 transactions per second (TPS), making it capable of supporting high-volume trading activities. As of now, Elixir has processed a total of 258,858,774 transactions, with a network volume amounting to $1,288,400,579. Elixir also boasts over 30 native integrations into the core infrastructure of leading DEXs.
This decentralized network is built to provide efficient liquidity solutions, enabling seamless and trustless trading experiences. By integrating Elixir, exchanges can significantly improve their liquidity management and offer enhanced, efficient trading experiences to their users while promoting trust and transparency across the network. Elixir opens up a new world of possibilities for exchanges by eliminating the dependence on centralized firms for deep liquidity. The recent volatility in the cryptocurrency market, including fluctuations in Ethereum price, has underscored the need for robust liquidity solutions within the DeFi space. Elixir's decentralized network offers a reliable alternative, enabling exchanges to tap into a wider pool of liquidity and mitigate the impact of market fluctuations on their order books. This flexibility allows exchanges to offer their users a more stable and secure trading experience, even during periods of high market volatility, regardless of the specific price of ETH. It allows users to tap into new sources of organic yield, thereby increasing orderbook depth and fostering innovation within the trading ecosystem. This decentralized approach also reduces the risk of market manipulation and provides a more secure environment for traders to engage in transactions. Additionally, Elixir's innovative technology can help exchanges attract a wider range of users by offering unique features and competitive advantages in the rapidly evolving digital asset market.
Elixir Fundraising Info
With its seed round on January 17, 2023, raising $2.3 million to its $8 million self at Early Stage VC (Series B) on March 12, 2024, co-led by Mysten Labs and Maelstrom, Elixir's valuation has reached up to $800 million ahead of its August mainnet launch. Elixir set a record by acquiring more minority holdings, including Amber Group and Minority Flowdesk, both VC-backed companies, as well as GSR, a venture capital investor, among many others. Additional excitement about Elixir stems from its funding usage in development as a decentralized network designed to improve liquidity across order book exchanges. On that note, Elixir's total fresh capital has increased by eightfold, with more than $17 million raised.
Elixir Airdrop
With the release of its $ELX token, Elixir is well-positioned to uphold its standing and completely transform the orderbook exchange industry. In their "Apothecary Potions" campaign, users can earn potions and unlock further gifts. Users have the option to earn even more prizes as they connect with the Elixir ecosystem. The initiative is positioned as a very strategic one in the cryptocurrency field, with participants earning potions for depositing assets, which will most likely result in an airdrop of $ELX tokens when the token becomes live. Furthermore, users who deposit at least $100 in USDC can gain access to a Mystic Chest, which is a one-of-a-kind opportunity for crypto enthusiasts and traders to earn potions and potential $ELX tokens while engaging with a pioneering DPoS network for those who enjoy mystical themes.