ELYFI is adding real estate to the DEFI concept. This is the expansion of the current crypto-to-crypto applications as ELYFI will introduce traditional assets to the open financial market.
For real assets to be recognized for their value on-chain and used as digital assets, not only should the logic of the Smart Contract be valid, but the linkage between the blockchain and tangible assets should be thoroughly managed and supervised. Therefore, to maintain the ELYFI ecosystem correctly and sustainably, the structure and relationship between participants must be logical and appropriate, thus allowing stakeholders to draw a ‘fair and reasonable’ conclusion as to why ELYFI maintains the ecosystem in a particular way.
We are convinced that decentralized financial markets will achieve more significant growth and do more. However, the platform that ELYFI dreams of becoming still faces some problems that need to be solved. To address these, we need participant involvement, proposals/suggestions, verification, and sufficient data.
ELYFI looks forward to welcoming such participation, and in this document, we would like to introduce the content that we have considered and studied so far. We hope that this platform will be the first step towards connecting the new financial market, called DeFi, with existing traditional assets.
- 1.ELYFI is a decentralized project that connects the two capital markets in the banking and finance industry: real assets and cryptocurrencies.
- 2.Anyone can participate and contribute to the project development if they agree with the significance of the project.
- 3.Everyone is free to use and apply the project, but development participants are not responsible for the consequences of not complying with proposals.
- 4.Various testing and verification processes will be conducted before the official version of the Contract is released.
- 5.Depending on the version, the main formulas and values may be changed.