Team Elk is delighted to announce our upcoming launch on the MATIC network. We are going live this Saturday at 16:00 UTC.
Read on for more details about the launch and the airdrop.
On Saturday, April 10, 2021 at 16:00 UTC, we will be going live at https://matic.elk.finance. Here is a brief recap of the events of the day.
15:00 UTC — Airdrop
This time around, given the low fees on the MATIC network, we have decided to automatically airdrop $ELK to the eligible wallets. The full details for the airdrop and eligibility were provided in a previous blog post. As a reminder, you are eligible if:
- You have an Elk liquidity score of at least 10. If so, your address should appear in this spreadsheet.
- You were one of the 635 early members of our Telegram chat or channel (i.e., you were in the chat on or before March 27) AND you filled the form to claim your airdrop before April 1.
- You held $QUICK on the MATIC chain at block number 12,722,721.
In addition, we are pleased to announce that every wallet address that is eligible for the liquidity score airdrop or the telegram airdrop will receive $MATIC 0.1 to help you transact on the MATIC network.
16:00 UTC — Opening of Trading
We will enable trading of $ELK on MATIC at 16:00 UTC. Head over to https://matic.elk.finance and make sure to configure your MetaMask for the MATIC network. Functionality that will be enabled at 16:00 UTC:
- Liquidity provisioning
We will be listing approximately 100,000 $ELK on MATIC.
18:00 UTC — Yield Farming
Finally, a couple hours after the launch, we will enable yield farming on MATIC. We will be whitelisting 15 liquidity pools for yield farming with the following rewards immediately at launch:
- MATIC-ELK: 200 $ELK per day
- USDT-ELK: 200 $ELK per day
- USDC-ELK: 100 $ELK per day
- ETH-ELK: 100 $ELK per day
- WBTC-ELK: 100 $ELK per day
- LINK-ELK: 100 $ELK per day
- DAI-ELK: 100 $ELK per day
- QUICK-ELK: 100 $ELK per day
- MATIC-USDT: 50 $ELK per day
- MATIC-USDC: 50 $ELK per day
- MATIC-ETH: 50 $ELK per day
- MATIC-WBTC: 50 $ELK per day
- MATIC-LINK: 50 $ELK per day
- MATIC-DAI: 50 $ELK per day
- MATIC-QUICK: 50 $ELK per day
Similar to Avalanche:
- The duration for these pools is set to 9 days. You will need to withdraw your liquidity pairs from these pools in 9 days and stake them again in the new contracts if you wish to continue earning ELK. The next pool duration is expected to be longer.
- These initial pools include non-ELK pairs. The next set of incentivized pools will most likely only include ELK pairs.
- Initially, no impermanent loss protection is planned for these pools.
- The farming incentives ($ELK 1,350 per day) are compatible with the ELK distribution plan on the MATIC chain.
- We will be staking a very small fraction of liquidity pairs from the community hot wallet to monitor the situation from up close. Any $ELK tokens earned through our staking tests are the property of the community hot wallet and will be redistributed.
Have a great weekend and we hope to see you tomorrow!