Elys Network Incentivized Tesntet | Revolutionizing DeFi on Cosmos Ecosystem

Revolutionizing Decentralized Finance on the Cosmos Ecosystem

Elys Network is poised to redefine the landscape of decentralized finance (DeFi) within the Cosmos ecosystem. With its innovative features and commitment to financial sovereignty, Elys stands as a beacon for those seeking to explore and engage with the world of cryptocurrencies and DeFi. Let's delve into what makes Elys Network a game-changer in the decentralized finance realm.

Cutting-Edge Integration and Seamless Onboarding

At the heart of Elys Network lies its cutting-edge integration, designed to provide a seamless onboarding experience for both crypto-native and non-crypto-native users alike. By eliminating barriers to entry, Elys opens the doors to a broader audience, democratizing access to financial services.

Decentralized Suite of Financial Applications

Elys distinguishes itself as the first and only decentralized suite of financial applications within the Cosmos ecosystem. Built on the Cosmos SDK, Elys operates as a fast layer 1 blockchain, offering multiple unique features to its users.

Key Features of Elys Network

1. Non-Custodial Automated Market Maker (AMM) DEX: Elys boasts a non-custodial AMM-style decentralized exchange powered by liquidity providers and liquidity pools, ensuring liquidity and security for traders.

2. Oracle-Based Multi-Asset Index Pools: These pools enhance diversification and reduce volatility by leveraging oracle technology, offering users exposure to a variety of assets within a single pool.

3. Native Perpetual Trading Capabilities: Elys Network enables native perpetual trading, including a universal cross-collateral vault, providing traders with advanced trading options.

4. Leverage LP and Borrowing on Margin: Liquidity providers can maximize rewards by accessing borrowing on margin, enhancing their earning potential while providing liquidity to the network.

5. Native Bridging Capabilities: Elys facilitates seamless bridging to Ethereum Virtual Machine (EVM) chains and Inter-Blockchain Communication (IBC) enabled blockchains, optimizing user experience and value capture.

Mission, Vision & Values

Elys Network is guided by a strong mission, vision, and set of values that underpin its operations:

• Mission: To create a self-sustaining, open-sourced, non-custodial decentralized suite of applications and tools, fostering financial sovereignty for all.
• Vision: To accelerate the world's transition to decentralized finance, empowering individuals to control their financial futures.
• Values: Elys prioritizes accountability, decentralization, collaboration, trust, transparency, high-quality standards, safety, security, forward-thinking innovation, and simplicity in all its endeavors.

Elys Ecosystem Tokens

Within the Elys ecosystem, several tokens serve distinct purposes, including ELYS (staking & governance token), ELYS-LP (liquidity provider tokens), EDEN (vesting 'inflationary reward' token), and EDEN-Boost (multiplier token).

Staking/Governance & Rewards Distribution

Users can stake ELYS to secure the network and participate in governance decisions. Rewards, including non-inflationary DEX revenue, EDEN, and EDEN-Boost, incentivize users to contribute to the network's security and growth.

Join Elys Network Incentivized Tesntet 

https://mirror.xyz/elys-network.eth/fvQiuAKWWnz7PJDm3QiK8NQyZZok5K3fURPTuY3NJV4

Elys Network welcomes everyone to join its journey towards revolutionizing decentralized finance. With a user-friendly WebApp and a commitment to inclusivity, Elys invites individuals of all levels of expertise to explore its offerings. As the mainnet launch approaches, participants can anticipate exciting airdrops and rewards, cementing Elys Network's position as a frontrunner in the Cosmos ecosystem's DeFi landscape. Take action now and seize the opportunity to be part of this transformative journey with Elys Network.

Roadmap

Step-by-Step Guide to Joining the Elys Network

Welcome to the practical guide to kickstart your adventure with the Elys Network! Follow these simple steps to join the network and start enjoying its various features.

Step 1: Getting Started

Before we begin, ensure you have a device connected to the internet and ready to use, such as a laptop or smartphone.

• 1. Open bonusblock Dashborad: https://elys.bonusblock.io/?r=Z3XWWutj
• 2. Connect Kelp Wallet > Connect Social Media
• 3. Twitter, Discord & Telegram
• 4. You can view tasks that need to be completed

Step 2: Download and Install Keplr Wallet

• 1. Open http://keplr.app/download
• 2. Download and install the Keplr Wallet according to your platform.
• 3. Click "Create a new wallet" and follow the simple on-screen instructions to create a new wallet.
• 4. If you already have the Keplr Wallet, you can skip this step.
  

Step 3: Connect Your Wallet to the Elys Network

• 1. Visit https://testnet.elys.network
• 2. Click Sing In > Connect with wallet
• 3. Choose Keplr and approve the new chain in your wallet.

Step 4: Claim Your Test Tokens

• 1. Go to https://testnet.elys.network/faucet
• 2. Click "Claim Tokens" and wait 1–2 minutes for the tokens to arrive.
• 3. If you encounter an issue where you’re reminded that you’ve already collected tokens but haven’t actually received them, try clicking a few more times.
  

Note: You can also deposit using other Testnet Tokens such as ATOM, OSMO & USDC. 

On the Dashboard https://testnet.elys.network/

Click Transfer Crypto from Native Chain

Deposit testnet tokens

To get testnet tokens you can faucet on each project Discord

Step 5: Swap Your Tokens

• 1. Open https://testnet.elys.network/swap
• 2. Choose the ATOM  → USDC swap, enter the desired amount, click "Receive USDC" and confirm transaction.
• 3. Make additional swap between different tokens, ELYS, OSMO, TIA & USDC

Step 6: Stake and Mining

• 1. Visit https://testnet.elys.network/earn/staking
• 2. Select the USDC pool and click "Manage"
• 3. Stake USDC by entering the desired amount and confirming the transaction.
• 4. Repeat the process for the ELYS pool by selecting a validator, entering the amount, and confirming the transaction.

Step 7: Add Liquidity

• 1. Go to https://testnet.elys.network/earn/mining
• 2. Choose any pool and click "Add Liquidity" such as the ELYS-USDC pool.
• 3. Deposit the desired amount and confirm the transaction.
• 4. you also do Add Liquidity > Single Asset > change the desired asset ELYS or USDC

Step 8: Withdraw Your Tokens 

• 1. Open Dashboard https://testnet.elys.network
• 2. Click "Claim Rewards" and Click Claim Rewards Now > confirm transaction
• 3. After claiming your Reward, you can Stake EDEN in the Earn menu.

Step 10: Participate in Governance

• 1. Go to https://testnet.ping.pub/elys/gov
• 2. Connect your wallet, choose an active proposal > vote > and confirm transaction.
• 3. Be sure to check for active proposals regularly, Join Discord ELYS Network Join Discord ELYS Network  Check Channel #🗳┃governance-bot 

Now you're ready to explore Elys Network! Don't hesitate to follow these steps and start experiencing the benefits of participating in this network.