Introducing Elon Protocol: The Easy Way to Do Defi

| To find out more about Elon Protocol, join our Telegram chat |

Decentralized finance is changing the world. But no change comes without struggle, and as anyone who’s tried interacting with DeFi protocols will attest, mastering them is a struggle. For beginners, the learning curve is intimidatingly high in what is an unforgiving environment.

From understanding network fees and timing actions based on gas prices, to farm-hopping in search of ever-fluctuating yields, DeFi can easily become a full-time job. And if you don’t know what you’re doing, or only have a small stake to play with, it’s all too easy for your gains to be frittered away through impermanent loss, unstaking fees, and the perils of pool 2.

It was these pitfalls that inspired the creation of Elon Protocol: an easier way to do DeFi.

Problems Solved

Elon Protocol was developed with the goal of solving three particular pain points that are inherent to DeFi:

  • Lack of knowledge: Existing DeFi platforms are too complex for the average user, with a steep learning curve and requirement to stay up-to-date with protocol changes, APYs and new pools, all while mitigating impermanent loss.
  • Lack of trust: Rug pulls in the form of liquidity removal, infinite mint tokens, and hacked protocols are a constant menace.
  • Lack of transparency: Many DeFi protocols are opaque in terms of their fee structure, yield optimization algorithms, and underlying risk.

Elon Protocol solves these problems by delivering an intuitive interface for interacting with DeFi in just a couple of clicks. With the help of Elon, DeFi users can gain exposure to the exciting world of decentralized finance and begin putting their assets to work.

The protocol enables anyone to set up their portfolio, deploy funds into the smart contract for investment, and manage buying, selling, investing, and redeeming. Cleanly designed and transparently operated, Elon Protocol packages all the tools for optimizing your DeFi experience into a single dashboard.

Features and Benefits

Using Elon Protocol, anyone can:

  • Select from a range of investment strategies to suit their risk appetite and time preference.
  • Invest without limits in tried and tested DeFi protocols.
  • Access the latest, most profitable yield generation strategies.
  • Choose from community-governed investment algorithms
  • Use the integrated smart swap to exchange any ERC20 token and invest in any liquid token or stablecoin.

Elon Protocol operates as a DeFi yield aggregator that integrates services from audited and trusted DeFi projects including 1inch, Uniswap, and Aave. It also features API integration of centralized exchanges such as Binance, Kraken, and Coinbase, giving traders access to deep liquidity and aggregating the best elements of CEX and DEX.

Elon Protocol serves as a decentralized investment fund, which can be fully customized to capitalize on yield-generating and profit-maximizing strategies as new opportunities emerge. The Elon DAO, meanwhile, forms the community hub through which token-holders can participate in governance, propose strategies, and have a say in the protocol’s evolution.

Designed for newcomers and experienced users alike, Elon Protocol will drive down the barriers to DeFi adoption while empowering individuals to claim their financial freedom by making smarter investment decisions.

| To find out more about Elon Protocol, join our Telegram chat |

--

--

--

Simple gateway to DeFi

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

ICON Development Roadmap Update — August 2021

Blockchain industry and financial industry

Going To Hell: Cutie NFT And Item Market Overview

Come for the IDO, Stay for the Tech

🎮 How Can Gaming and Blockchain Technology Preserve the Rainforest?

What’s Happening on the Matic Market

ERC-998 and the Future of Blockchain Game Assets

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Elon Protocol

Elon Protocol

Simple gateway to DeFi

More from Medium

Capella Finance the easiest and most transparent DeFi Project for Investors

Defi Helps You Obtain Your Desires

Sushi Swap in 9minutes.

Weekly Wrap Up — Bitcoin Miami