Elys (ELYS) Staking

About Elys Network (ELYS)

Elys Network is a Layer 1 blockchain platform within the Cosmos ecosystem, designed to simplify decentralized finance (DeFi) by providing a comprehensive suite of financial tools. Built on the Cosmos SDK and CometBFT, Elys aims to offer a user-friendly interface akin to centralized exchanges (CEX) while maintaining the benefits of decentralization.

What Makes Elys Network Special?

Elys Network introduces several innovative features that distinguish it in the blockchain landscape:

• Universal Liquidity Layer: Elys acts as a universal liquidity layer, transforming the fragmented Web3 landscape into a cohesive and efficient ecosystem through its self-custody universal liquidity design.
• Smart-Shielded Pools: The platform utilizes dynamic weighted pools powered by real-time oracle data, which adjust asset weights to reflect current market conditions, enhancing efficiency and rewards for users.
• Comprehensive DeFi Suite: Elys offers a range of DeFi services, including swapping, staking, and derivative trading, all accessible through a user-friendly interface that simplifies crypto management for users of all experience levels.
• Integration with Atom Economic Zone: As the first all-in-one DeFi platform to join the Atom Economic Zone, Elys benefits from enhanced security and scalability through the Cosmos Hub’s validator set.

ELYS Staking FAQ

How much can I make staking ELYS?

The return from staking ELYS varies based on the network's overall staking participation and specific validator commission

How do I receive my ELYS rewards?

ELYS rewards need to be claimed. Visit the ELYS dashboard to claim your staking rewards

When can I start earning rewards with ELYS?

You can start earning staking rewards once your ELYS tokens are successfully delegated to a validator.

Can I sell ELYS while it is locked up?

Staked ELYS tokens cannot be sold, they need to be unstaked first. The unstaking period for ELYS is 14 days

What are the risks around staking ELYS?

Staking ELYS comes with risks like slashing (penalty for a malicious validator), price volatility, and liquidity risk (inability to sell during the lock-up period).

What consensus algorithm does Elys Network use?

Elys is based on the Cosmos SDK and CometBFT proof-of-stake consensus protocol.

What are the tokenomics of ELYS?

Read all about ELYS tokenomics here