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: Elk Finance | Devpost
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 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:
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
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
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:
Launch ElkNet on the BitTorrent Chain Mainnet (BTTC) allowing all users from 20 chains to bridge to/from BTTC
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
Collaborate with new and existing BTTC projects on whitelisting, farms, and marketing if requested