ELFi Protocol, a decentralized derivatives trading platform, has announced the completion of a $5 million strategic funding round led by IDG Capital and KuCoin Ventures. ELFi has introduced innovative liquidity pool designs, including the industry’s first low-risk stablecoin liquidity pool and LSD re-collateralization liquidity pool. It is reported that the new funding will be used to launch the platform on Arbitrum’s testnet and conduct public beta testing for Genesis NFT.
