Elysian Finance is working on developing a reserve-backed currency for DeFi 3.0 and the decentralized web that is of the next generation.

Introduction to Elysian Finance
As a direct result of the expansion of the market, the firm is excited to inform that they have plans to conduct further token sale events later on in this year. At the moment, they are working on modernizing the platform and investigating the possibilities of doing continuing security checks.
Those who are fortunate enough to enter the competition at an early stage will have the opportunity to take part in the pre-sale, which is a distribution of “pre-Elysian” (pLYS), an instrument of the call option type that may be traded for Elysian (LYS) by depositing RFV ($1) in the treasury. The upcoming token distribution is different and will see the sale of a fixed amount of Elysian (LYS) at a price multiple of the RFV.
As a result of Elysian smart contracts, strategies can be viewed in full detail.
Elysian has a goal in mind, and she’s putting her plans into action. To be a part of this revolution, you need to join the movement right now. The blockchain industry is still in its infancy and has a lot of room to expand. As a community, Elysian have a unique opportunity to make a difference in the world.

The Elysian vision is to
Backup-backed tokens are essential for DeFi 3.0 and a decentralized web. Elysian is developing a new generation of tokens. On-chain asset management and algorithmic asset emission are the emphasis of our non-custodial protocol. The Elysian Treasury will engage in tactics including arbitrage, market construction, robo-trading, and exchange-traded funds. Elysian smart contracts provide complete transparency regarding strategy performance and structure and operation.

Pre-Elysian (pLYS), a derivative of LYS, will be distributed in the upcoming round. The distribution of pLYS represents the allocation of a portion of the value of LYS that was placed in reserve during the initial coin offering. Holders of pLYS will have the right to mint new LYS by burning one pLYS and depositing $1 worth of any asset into the treasury.
The Elysian token (pLYS) is verified on a public and transparent blockchain in order to give users the right to verify their tokens. This is also done to protect users against uneven distribution of tokens, as well as to keep our community informed about the current state of the pLYS token.

Distribution mechanism Of Elysian Token (LYS)
The governance token has two main functions:
- Treasury management
- Voting rights on treasury proposals

Elysian forks are distinct from other forks because of its unique design. This fork doesn’t have an initial coin offering (ICO). A vesting timetable, on the other hand, will be used by this team to reward early backers and contributors. Pre-Elysian (pLYS), a derivative of LYS with an option-inspired behavior, will be distributed in the following round. Because the treasury has $1 worth of LYS, for every LYS minted, $1 must be held in reserve.

Minting tokens can be done by depositing $1 worth of reserve asset for each coin that is created by burning pLYS and depositing $1 worth of reserve asset for each coin. Since pLYS vests dependent on supply, it is a long-term gamble and there are no precise dates at which the circulation is arbitrarily increased.

To redeem pLYS it makes sense only when LYS is trading above its inherent value, like an option. Early backers, advisors, and members of the team will be allowed to deposit their pLYS tokens in one lump sum once the supply reaches 12 percent of total supply.

Pre-Elysian will be introduced by Elysian in order to aid in the achievement of this goal (pLYS). It will be pLYS instead of LYS that will be given out in our launchpad and developer prizes, and for security assessments. As a result, these tokens cannot be sold right away and may only be redeemed for LYS if certain supply criteria have been met.

Features Elysian
The contribution made by Elysian comprises an architecture for smart contracts that is upgradable and adaptable, in addition to capabilities such as the following:
OTC market for bonds and inverse bonds
Automated asset management
Streamlined governance and NFT
tier of rewards on top of a ve(3,3) “vote-escrow” process.

The Mechanism for Distribution
It will be interesting to see how the distribution of Pre-Elysian (pLYS), an option-dependent derivative of LYS, changes in the coming cycle. Each LYS must be backed by a dollar in reserve since the Treasury’s fundamental worth is one dollar. A one-to-one swap for one of the reserve assets required to mint LYS is available to holders of pLYS. One pLYS is exchanged for one dollar’s worth of the reserve asset in this transaction. A long-term wager is required when pricing is controlled by supply rather than demand because there are no predetermined dates when the available supply will be arbitrarily increased. Redeeming pLYS, which works like an option, only makes sense if LYS is selling at a price higher than its inherent worth.

All pLYS token holders will be able to claim their tokens once the total quantity of pLYS tokens has reached 12 percent. A 10-meter supply of PLYS valued $1.20 million will be reedemable, and so on, for each one-meter supply.

A breakdown of the pLYS distribution may be found down below:

· Team: 330m pLYS and 8% supply

· Investors: 70m pLYS and 3% supply

· Advisors: 50m pLYS and 1% supply

-Community: 550 million pLYS with no supply limit.

Funding for product development, scaling, marketing, and new product creation will be provided by the distribution’s earnings. In order to achieve the project’s long-term finance needs, this round will not include Treasury bids. In the beginning, a larger user base and a greater emphasis on expansion are certain. Join the whitelist to gain access to the whole customer base.

Hastag: #elysianfinance #defi #eth #ethereum #lys #dao

Details information, Visit link
Website: https://elysian.finance/
Medium: https://medium.com/@elysianfinance
Twitter: https://twitter.com/Elysian_Finance
Telegram group: https://t.me/elysianfinance
Github: https://github.com/ElysianFinance
Discord: https://discord.gg/gNFfBfV4he

Author
Bitcointalk Username: ManuelaFoerster29
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=3401403
Telegram Username: @manuelafoerster29
Ethereum Wallet Address: 0x0f6A7379641176C2Ff7cbA438f14d3af074C1c3F