Too Long; Didn't Read
In this article, I will briefly lay out the case for why the Elk blockchain should be seen less as a bridge and more a multi-functional DeFi gateway. I will start by explaining ElkNet in its present form and the utility of the ELK token, before moving on to two forthcoming upgrades that demonstrate Elk’s broad vision for the future of DeFi. These are:
- CHFT, a multi-chain native stablecoin
- Proxy tokens, cross-chain virtual assets
The Elk blockchain is designed to overcome the existing limitations of bridges and blockchain interoperability more generally. I’ll refer to these as:
- The Bridge Fragmentation Problem
- The Exit Liquidity Problem
- The Cross-chain Relay Problem