Elk Finance Launch on BTTC Mainnet by Team Elk- Connecting BTTC to 20 Blockchains

TRON Hackathon Hackathon Season 3
1

Project Name: Elk Finance

Project Track: DeFi

Team Name: Team Elk

Team Member(s): 6 Team Members- Pyro, LtSnakePlissken, FoxFortyTwo, Baal, Michelangelo, FiatsJudas

DevPost URL: https://devpost.com/software/elk-finance

Project Goal: For our submission, we will be launching our ElkNet and ElkDEX on BTTC to connect the BTTC mainnet to 20 other blockchains.

Project Info: Follow the link below to see our video pitchdeck for the Hackathon!

Alternatively, we have a traditional pitch deck available here:
Tron Hackathon Pitch Deck.pdf (3.5 MB)

Contract Addresses: See here for an up to date list of Smart Contracts deployed on BTTC- BitTorrent Chain - Elk.Finance Docs

Contracts deployed as of November 14, 2022-
Elk | Address 0xeeeeeb57642040be42185f49c52f7e9b38f8eeee | BTTCScan - ELK Token
ElkRouter | Address 0x7520d45bcc30be211c6b28f6291522555eda4d6c | BTTCScan - ElkDex Router
ElkFactory | Address 0xc06348aee3f3e92ee452816e0d3f25c919f6fb04 | BTTCScan - ElkDex Factory
Reservoir | Address 0x42424242B0c0d8A19dCD0dF362815E242586354A | BTTCScan - ElkNet Reservoir
SingleStakingRewards | Address 0x57a1ce7686f3b2ab61f5191c76361f985b57e0fa | BTTCScan - ELK Single Stake Contract
BTTC Account (Invalid Address) BTT-ELK farm

Project Website:
https://app.elk.finance - Our dApp
https://elk.finance - Our website
https://docs.elk.finance - Our documentation

Project Test Instructions:

Step by step instructions are available in our docs for the usage of ElkNet:

A video is also available to guide you:

Farming with ElkDEX:

Project Details:

Elk Finance is building a peer-to-peer network for cross-chain value transfers and blockchain interoperability. ElkNet, the powerful cross-chain engine at the heart of the network, allows for secure and efficient transfers of value and information, reducing friction and asset fragmentation between blockchains. Community projects and developers will be able to build dynamic multi-chain applications that leverage ElkNet with features such as proxy tokens and cross-chain messaging.

Elk Finance combines several innovative features:

  • Cross-chain utility token for value transfer ($ELK)

  • Safe and secure transfers compared to traditional bridges

  • Cross-chain value transfer via ElkNet in seconds between all the blockchains Elk supports

  • Bridging-as-a-Service (BaaS) to provide infrastructure for developers to leverage the ElkNet for custom bridging solutions

  • Cross-chain swaps between all connected blockchains

  • Impermanent Loss Protection (ILP) for our liquidity providers

  • Non-Fungible Tokens (Moose NFTs) with unique abilities and features

  • Plans for a cross-chain stablecoin for value transfer and loans ($CHFT), a decentralized ElkNet with the help of nodes, Farming-as-a-Service

  • and more…

What are the Use Cases?

At the core, our goal is to provide our users with a simple and cheap way to transfer value across chains. However, Elk’s mission goes far beyond just enabling users to swap assets across chains. With Elk, users will not have to think about which chain they are on. Some of the functions we will support include: calling smart contracts across chains, allowing smart contracts on different chains to interact, using liquidity on one chain to get a stablecoin loan on another chain, allowing cross- or multi-chain synthetic assets (proxy tokens), a Bridging-as-a-Service (BaaS) SDK for custom bridging solutions, and facilitating cross-chain arbitrage.

Is This Yet Another Bridge?

No. While bridges are a step in the right direction, we believe they just do not do nearly enough to enable cross-chain functionality. Below are some of the problems with bridges that Elk aims to solve:

  • Safety and security

  • High cost

  • Speed

  • Largely centralized

  • Hard to manage

  • One-off (you need to deploy a new bridge between every pair of chains)

  • Only support bridging assets that exist on both chains

  • Extra costly conversions if the two assets to swap do not exist on both chains

Our approach is much more efficient and inexpensive than a standard bridge. It is a “multi-bridge on steroids” that is safer, cheaper, faster, and more adaptable than the competition.

Project Milestones: Before judging and voting takes place, Elk Finance will:

  1. Launch ElkNet on the BitTorrent Chain Mainnet (BTTC) allowing all users from 20 chains to bridge to/from BTTC

  2. Launch the ElkDEX on BTTC enabling swapping, LP provision, ELK farming with Impermanent Loss Protection (as long as subgraphs are operational), and the single-staking of ELK

  3. Collaborate with new and existing BTTC projects on whitelisting, farms, and marketing if requested

56 Likes
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Great presentation :+1::innocent:

We need project like this to attract huge users to BTTC (bittorrent chain) and i have noticed your website are so appealing looks professional, I wish all the very best

:rocket::rocket:

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Thanks! We really appreciate the feedback! Hopefully we can be successful in the Hackathon!

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What a fantastic project. Keep it upđź‘Ť

8 Likes
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We certainly shall. If we’re welcomed to a chain then we shall do our best for that chain!

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@LtSnakePlissken Glad we are seeing some serious devs looking into developing and working with the BTTC network as the chain still needs to show its capabilities especially with blockchain bridge options starting to be asked for quite a lot

Good luck in the hackathon season 3 and keep those updates coming :raised_hands:

4 Likes
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You have successfully combined different concepts. Keep going bro!

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Thanks! We’re looking forward to being on the chain! A lot of users are looking forward to it :slight_smile:

3 Likes
9

Nice concept you’ve got there

3 Likes
10

This project is a bang! Awesome!!! Great presentation btw.

4 Likes
11

Interesting project!
Sorry for the unrelated question, but how did you embed the video in your post?

3 Likes
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Thanks! It auto embedded after pasting the link :slight_smile:

3 Likes
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Thanks! Unfortunately, it seems that kind of magic doesn’t work for me.

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really good defi dapp. i like the UI on this, very easy to use.

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Strange! I wonder why? Hopefully it works eventually.

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That’s super interesting! nice project and great presentation! also really cool UI!

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I really appreciate the team and the project

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Thanks @jacopo @Kingstonbaba1! Glad you guys took to the time to check it out!

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When I bridge on other chains, ELK tends to be my preferred bridge because of speed and cost. Team is very committed to decentralization and security as well. Builders. Nice presentation in this thread!

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wow, Elk on BTTC will be huge!
Elk teams are legends in the space, delivering safe product on the design space of cross-chain transfers would be a hot potato for most teams but not for these guys :muscle:

Best of luck in the Hackathon, I’m sure ELK x BTTC will open up doors to both ecosystems :handshake:

4 Likes