Elys Network: everything you need to know about airdrops, tokenomics and the incentivized mainnet

Elys Network is an innovative decentralized finance (DeFi) platform that combines perpetual trading solutions with a unique rewards model for its users. Leveraging the security of ATOM through Cosmos Hub's Interchain Security, Elys enables economic participation that is transparent and sustainable, placing users at the heart of its governance and incentive mechanisms.

In this article, we explore everything you need to know about Elys Network:

• How to claim your airdrop
• An explanation of the different tokens in the ecosystem, such as $ELYS, $EDEN, and $EDEN Boost
• The workings of the incentivized mainnet and the opportunities it offers to engaged users

These elements are essential to understanding why Elys Network represents an exciting opportunity for dedicated users.

A complete immersion into the universe of Elys awaits you!

Claiming the $ELYs Airdrop on Elys Network

To claim your airdrop and begin your journey on Elys Network, follow these simple steps:

Step 1: Deposit $ATOM into Elys Network

• Open your Keplr wallet and connect.
• Click on "Send."
• Select ATOM as the asset to send.
• Click on "IBC Send."
• Search for Elys Network in the list of chains.
• Enter the amount to send.
• Click "Next" to finalize the transfer.

Step 2: Claim your $ELYs

• Visit the claim page
• Connect your wallet to check your eligibility.
• Click on "Claim" to retrieve your $ELYs or $Eden tokens.

Step 3: Maximize your rewards

Fifty percent of the remaining airdrop will be distributed based on actions taken over the next three months. To optimize your gains:

• Access the Elys Network application:
• Possible actions:
  • Staking: Stake your $ELYs or $Eden.
  • Adding liquidity: Contribute to strengthening the ecosystem.
  • Continuous use: Regularly perform transactions on the platform.
• Track your progress by visiting the Reward Center

Every action you take today influences your future rewards. Stay active and fully leverage the opportunities offered by the Elys ecosystem!

The Central Role of the ELYS Token

ELYS is the primary token of the Elys Network ecosystem, playing a central role in the network's governance and economy. Its key functions include:

1 Reward Generation:

When users stake their ELYS tokens, they receive multiple rewards:

• A share of protocol revenue in USDC (from platform usage fees)
• EDEN tokens (inflationary reward)
• EDEN Boost tokens (yield multiplier)

2 Governance:

Staking ELYS grants voting rights on project decisions, allowing holders to participate in network governance and influence strategic and technical developments.

3 A Sustainable Economic Model:

Staking ELYS contributes to the ecosystem's economic dynamics by redistributing protocol usage fees to stakers, creating a balanced and incentivized economic cycle.

The EDEN Token: A Locked Representation of ELYS

EDEN is an inflationary reward token obtained by ELYS stakers and liquidity providers, characterized by:

• Convertible Only to ELYS:
  • EDEN can be exchanged at a 1:1 ratio for ELYS after a linear vesting period of 90 days, encouraging medium-term engagement that aligns user and protocol interests.
• Similar Reward Dynamics:
  • Staking EDEN offers the same rewards as staking ELYS:
    • Revenue in USDC
    • Additional EDEN tokens
    • EDEN Boost tokens

In summary, EDEN is a locked representation of ELYS, designed to encourage active participation in the ecosystem while preventing excessive selling pressure on the main token.

EDEN Boost: The Yield Multiplier

EDEN Boost serves as a yield multiplier, targeting users committed to long-term participation, with specific advantages:

• Enhancing Gains:
  • It significantly increases returns obtained through staking EDEN.
• Encouraging Engagement:
  • While not directly exchangeable for ELYS, it maximizes rewards received in USDC and EDEN.

EDEN Boost is therefore designed to reward the most loyal and active users, while promoting lasting engagement within the Elys Network ecosystem.

Why Users Should Interact with the Protocol

To claim airdrops or benefit from EDEN rewards, users must interact with the protocol. Here's why:

• EDEN can only be converted into ELYS after the vesting period.
• EDEN is non-transferable, which encourages users to remain active on the platform and utilize its features.

Conclusion

Elys Network offers a unique economic and incentive model within the Cosmos ecosystem, combining:

• ELYS: The primary token, driving governance and rewards.
• EDEN: A locked reward token that stimulates staking dynamics.
• EDEN Boost: A multiplier designed to maximize long-term gains.

This architecture aims to ensure balanced growth by encouraging users to stay engaged and guaranteeing equitable distribution of rewards.

Elys Network doesn’t just follow trends but seeks to redefine decentralized finance with a unique, resilient, and fairer model.

Support the Network with Inter Blockchain Services

As governors on Elys Network, Inter Blockchain Services plays an active role in securing and evolving the ecosystem. By staking your $ELYs or $EDEN with our validator, you not only support the network but also contribute to our efforts in decentralization and community education. Together, let’s continue building a robust and innovative ecosystem on Elys Network!

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By joining us, you are investing in a future where every interaction counts, as we build this future together, block by block. With IBS, write your own chapter in the story of true and verifiable decentralization.

Don't miss the opportunity to be part of this revolution. Join us today and help build a decentralized ecosystem for tomorrow!