Blockchain expansion: New chains ready to explode onto ElkNet soon 

June 27, 2023
Cross-chain, Information, Resources

Lodge Letter #69: Currently supporting 20 blockchains, the time has come for this to grow again

How are new ElkNet chains determined?

The community most certainly has a say in such matters. You may have noticed polls in the Elk dApp UI and our social channels where we enquire as to which blockchain ElkNet should go to next. Further to these questions are the needs of existing partners and where they’d like to see ElkNet lay further foundations. And we do feel we are here to help our ecosystem partners and users alike.

Let’s not forget that as soon as a chain is selected for inclusion in the ElkNet, the ElkDex will also deploy on the new chain; instantly creating an asset marketplace for ELK on a new chain. Elkbrings users a Dex, a bridge, LP farming, and staking opportunities. Builders can secure token liquidity using our self-managed farm creation FaaS tool, who’ll then be ready for easy cross-chain swaps to 20 OTHER chains. Then 25, then 30…you get the picture. We haven’t even mentioned the exciting stuff yet (keep reading).

Does this mean patience and hope is the only way to see ElkNet enter “your” ecosystem? No, it is not! However, in the ever-changing Web3 landscape where blockchains spring up (and sometimes sink away) all the time, taking a gamble on every single chain that appears on the horizon is not possible and not sensible. At Elk, we will certainly try to be everywhere, and we enjoy growing our ElkNet, but ecosystem builders can help too. We’ll bring our toys, for all topermissionlessly play with, and blockchains host the users, the partner projects – those seeking opportunity, liquidity, and flexibility to move from chain to chain.

Is a new blockchain coming? Or more than one?

Following conversations with several ecosystems, Elk is delighted to be expanding the ElkNet to embrace half a dozen new blockchains in the near future. Stay up to date with announcements for where we’re going to appear next by following our social media and community channels. We’re excited to join these new outposts of the ElkNet and help write their stories in crypto, blockchain and Web3, and are looking forward to sharing our new developments with these new blockchains as we all keep building towards inclusivity and interoperability.

As we continue Elk’s cross-chain journey through the spaces between blockchains, we find ourselves positioned such that if a chain is looking for ElkNet to land on their shores, then providing a grant, liquidity, marketing and business development support is a surprisingly effective way to bring Elk on board. We have plenty to offer and wish to strive for excellence alongside willing and capable partners.

Elk Finance coming to your blockchain?

Elk arrives on-chain…

When Elk Finance appears on a blockchain the following features become available:

ElkDex

  • LP pairings.
  • Liquidity farming.
  • Single staking ($ELK).

ElkNet

  • Transfer $ELK to/from any ElkNet-connected blockchain.
  • No $ELK has even been lost on a cross-chain transfer.
  • Ever.

Farm-as-a-Service

Social media and community channel support

  • We’re friendly and welcoming
  • We support ecosystem projects
  • We help where we can

That’s the story right now…

CCTP, cross-chain swaps, Uni v3 and what else?

The next phase for Elk is to take the above, which works (and works well), then add a bit more compatibility, improve the user experience, and make it available to more blockchains. Then we can give more tools for builders to play with ElkNet themselves. You want a bridge? They want a bridge? Everyone wants a bridge! And they’re all allowed to build on ElkNet to make their bridge work.

The existing features and tools will still be available but we will sprinkle the following into the mix too:

ElkDex – Uni v3 Dex

  • Customisable LP position NFTs.
  • More efficient concentrated v3 liquidity farming.

ElkNet 

  • Cross-chain swaps – Choose the token you send to ElkNet and receive any token on a destination chain, again of your choosing.
  • Cross-chain swaps powered by $ELK via ElkNet or USDC via Circle’s CCTP.
  • No lost $ELK for cross-chain transfers/swaps.
  • Ever. (It’s crazy not to stress this point!)

Farm-as-a-Service

  • All current self-managed FaaS benefits, but with v3 liquidity.
  • More efficient.
  • More profitable.
  • All in your control.

Social media and community channel support

  • We will stay friendly and be here for our chain-agnostic community.

Web3 is Web, we are one tribe, we are Elk: Any chain, any time, anywhere.

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