Elys is Cosmos Hub’s all-in-one DeFi Layer-1 app-chain, built with a seamless user experience to bridge the Web2/Web3 gap. Elys delivers a lightning fast, ultra smooth trading experience rivaling top tier CEX’s, while delivering all of the benefits users expect of DeFi. Elys' unified product suite is centered around creating a liquidity flywheel to enhance volume and revenues.
Elys Attributes
- Elys & Bitcoin: Elys is the first PerpDEX on Cosmos to integrate native Bitcoin staking, LP and Bitcoin trading on leverage, with the ability to earn real yield on native Bitcoin.
- 1- Click Staking: Elys allows for one click liquid staking for users who can seamlessly bring PoS assets and earn passive yield of 10-20%.
- Cutting edge integration for a seamless onboarding experience for non crypto-native users.
- A non-custodial Automated Market Maker (AMM) style Decentralized Exchange (DEX) powered by liquidity providers & liquidity pools.
- Oracle based multi-asset Index pools which increase diversification and reduce volatility.
- Native perpetual trading capabilities, including a universal cross collateral vault.
- Leverage LP with access to borrowing on margin to maximize rewards while providing liquidity
- On/Off ramps for major fiat currencies.
Oracle based Dynamic Weighted Pools
An Oracle pool, as the name suggests, utilizes an Oracle pricing model for each asset within the pool. At Elys, we've taken this concept further with the implementation of dynamic fee mechanisms and unique incentives, creating a novel approach known as Oracle based Dynamic Weighted Pools.
Elys Weighted Pools incorporate a dynamic fee mechanism that continuously rebalances the pool back to its target weights.
This mechanism ensures that asset weights remain close to their target values, facilitating efficient trading and liquidity provision.
The dynamic weight fees are determined by the following formula:
Dynamic weight fees = 0.05% * (W1 / W2) ^ 2.5
Where W1 is the weight of the asset being traded into, and W2 is the weight of the asset being traded out of.
Example
For example, let's assume that token A is ATOM and token B is USDC.
If the balance between A and B follows this trend in percentage represented in the pool: 50:50, 55:45, 60:40, 65:35, 70:30, 75:25, 80:20, 85:15, 90:10, 95:05
To swap ATOM (Token A) to USDC (Token B) for each scenario :
To swap USDC (Token B) to ATOM (Token A) for each scenario :
Table summarizing all the scenario :
| Token A / Token B Weight | Swap Token A to Token B | Swap Token B to Token A |
|---|---|---|
| 50% / 50% | 0.05% | 0.05000% |
| 55% / 45% | 0.08% | 0.03028% |
| 60% / 40% | 0.14% | 0.01814% |
| 65% / 35% | 0.24% | 0.01064% |
| 70% / 30% | 0.42% | 0.00601% |
| 75% / 25% | 0.78% | 0.00321% |
| 80% / 20% | 1.60% | 0.00156% |
| 85% / 15% | 3.82% | 0.00065% |
| 90% / 10% | 12.15% | 0.00021% |
| 95% / 5% | 78.68% | 0.00003% |
When a swap or liquidity provider improves the weight and brings it closer to the target, both the swap fee and weight-breaking fee are reduced to 0, along with an added incentive bonus.
Mission, Vision & Values
Mission
To create a self-sustaining, open sourced, non-custodial decentralized suite of applications & tools that allow anyone and everyone to access financial services and have financial sovereignty.
Vision
To accelerate the world’s transition & adoption of decentralized finance, creating a reality where everyone is able to control & impact their own financial future.
Values
We strive to deliver on the following value system. Accountability Create trust and accountability with our actions, while continuously learning and improving.
Decentralization & Collaboration Decentralization across the entire product & project is of upmost importance. All business, technological, and design decisions that are made will take this into account therefore creating a healthy, stable, and decentralized product. We will encourage and constantly seek out collaboration with other individuals and other projects to ensure we grow this product collectively via increased knowledge sharing.
Trust & Transparency Project information will be easily accessible and digestible by all. Code will be open-sourced, product direction & roadmap clear and accurate, general operations open and accessible. Trust will be maintained through public release of financial reports and regular community engagement.
High-quality We will work diligently and put processes in place to ensure that we consistently deliver high-quality products & experiences.
Safety & Security The safety and security on all aspects of the product and of all users is a top priority.
Forward-looking We always want to be looking towards the future and building innovate products that will continue to advance the adoption and transition to a widely adopted decentralized financial world.
Simple & Easy, Logic & Common Sense Simplicity and logic sense should prevail in all decisions.
