In Algorithmic Stablecoin, we have come such a long way to what we have achieved today. We tried to explore the different ways to create a successful Algo Stablecoin, and failed many times.

From the famous Basis Coin, which was later shut by the SEC, to AMPL, ESD, BAS, FRAX, FLOAT, OHM, or the most recent, FEI. We kept trying, not just because the great profit was being made on the way, more importantly, the whole DEFI was built on centralized stablecoins, like USDT, USDC, BUSD etc.

It is always funny to think about it, the whole DEFI ecosystem was…

To all Elena fans, thank you very much for your support from the beginning. As promised, there will be 50 lucky winners of airdrop events. You are able to claim 2 $ELENA for every address. We are giving away over total $20,000 worth of $ELENA to our early supporters.

The wallet addresses of lucky winners are as below:

1 0x80529f4A3D795f917379bA28BFb0a937D5FB4B76
2 0x0345269e13B7d8707d08A704637404ab64c30951
3 0xb605d920FEEF5325dd92D912EDf19c906D37Dd4C
4 0xA0a0e4c41eAC834d12F83120e298cd24fd6DE1aA
5 0xA418dEa98e1e20c165713E7f681af815CEC4415A
6 0x456bFA2301B3B680f6C641c83EA6eE82047e09Cc
7 0xa7F881702b28ECF1838681bC02A4C5553247D232
8 0x498297e5F3242888eC5b665a556b14c3b6630b0D
9 0xd7280Eec690570dF339686A7F0533AD188A32999
10 0xa9f078B3b6DD6C04308f19DEF394b6D5a1B8b732
11 0x1795f304853F86a4AEC92E0CaDa79ff919c54126
12 0x0640629e8f7eD42fFea9c97261f8Ad4a4dAe7538
13 0xA516765f67619E316C5d4aB001a71f1ca14c70C8
14 0xcD0EC0f0563752ca7f5122AA7f94f2e6E9746C7f
15 0x6682e331C36ACE77D022517B2e78bB1Bd21746d1
16 0xAE26E52d785fcd3a7DAB7237c00Dcc69D1ff759C
17 0x56ad217F18bB0884B8acA68C084e246Ce98074AE
18 0x011A62DC7a6C2969a764Ec1acd67081029100D57
19 0x980b25f29Dcc19f5Ea6b723DC0d481774e787570
20 0x7D69f2337F85531380C232CB1123A9bD3cC6C921
21 0x608Aa12Af90F1590bD438Ff89bB8aBDa22F45546
22 0x9bd381cd36c599673d57694Ff055CdE634aD91F4
23 0xc6b8e40a8CCd79D99345FfA1D84deBfaeb2dB3a0
24 0x8a5d335F9B2789f7db40d8f79cB59a401B268b33
25 0x1D0998850A9f7031db2fb7Ae1919BC43093C7faB
26 0x9a1e8645DEDec6d45E2058D031B1CA97F815bd2E
27 0x506C4C4325b133B9dC277B00b58b01c606aC6ddD
28 0xFb05731147B028635c66aD27b526b2e5dD61b588
29 0xf38ba39310aDFe693F549C3deCcbaa352D35835D
30 0xa73765aEf1506Ff63d4A388a38Fa80c65bb73660
31 0x715f0DA2704f331728d1CfE19C576453A21Bf586
32 0x61aDbE421319337762347f24f54C02509B3c4300
33 0xa734288DA3aCE7F9a5e5CAa6Df929126f2e67d52
34 0xC95565D1CBFD2E5AC73B1183F8FCBA2000EE49D7
35 0x68Cc31C7Ae97991bE1496e148E281b94bFf4277a
36 0xFC9C4C0e17c3A3139a77d86282eCf18687C14780
37 0x93d59Aff6eA135a20B45DC5ff62FD605D4c414D7
38 0xE15B3e40c53B9af235734E8A4AB8B2E022178e05
39 0x34B97dF76e99123305b2e5F04500c95f432e663e
40 0x39Eb32d9637a32bC13DB3DF52C63c66d0b1DD7D6
41 0x0B1f8Ee2f813f06aC5fb8aad74AaCB71fb2f51FA
42…

Elena Protocol will officially move into the fractional stage on April 26, 2021 (UTC), which means that Elena will become more valuable because each time when minting USE, Elena is needed. The amount of Elena needed will vary with the update of the collateral rate. When the collateral rate decreases, the amount of ELENA required for minting USE will increase. Our goal is to gradually reduce the collateral rate from 100% to 0%. Then ELENA will eventually be used to mint USE, so ELENA will be always needed.

We decided to follow the Moderate Policy. In the beginning, we decrease…

We are happy to illustrate the steps of participating in ELENA’s liquidity mining:

Step1: mint USE

The ELENA protocol will incentivize the liquidity pool of USE/DAI. USE token can be minted through DAI and ELENA. When the collateral rate is 100%, 1 USE is minted by 1 DAI. As the collateral rate decreases, the percentage of ELENA as collateral will gradually increase during minting USE.

Before minting USE, we need to Approve it first, and then we enter the amount of DAI we want to mint, and the amount of ELENA needed will be automatically calculated based on the current…

We are delighted to officially announce the launch of the Elena Protocol at 12 am UTC on April 19, 2021.

Algorithmic stablecoin is the Holy Grail of cryptocurrencies, an asset with all the benefits of decentralization but limited volatility.
It is the cornerstone of the entire crypto palace.
The crypto industry has seen the rise of various algo stablecoins in the last a few months. These Stablecoins have been built in different ways.
Now Elena protocol is born with the best practices we learned from Frax, FEI and FLOAT.
Elena protocol is a 100% fair launch project, there was no VC, or pre-sale to…

As Elena protocol is a 100% fair launch project, there was no VC, or pre-sale to raise capital for the expansion of the project, everything was self-funded by the founders. We have set up an eco-system vault for further development of ELENA.

We are introducing Elena Protocol and USE Stablecoin. The goal of USE is to peg to 1 USD. In the Genesis period, we will use DAI as collateral, 1 USE is 100% backed by 1 DAI. We are inspired by many outstanding algorithmic stablecoin projects, i.e. FEI, FRAX, FLOAT, and UST. …

We decide to upgrade the project name to Elena Protocol, and the name of ELENA will shine with the sun 🌞

During the process of designing Elena Protocol, we have been monitoring several well-known algorithmic stablecoin projects. When choosing a price anchoring mechanism, we prefer the arbitrage strategy which is used by both FRAX and FEI. We have conducted further research related to the price anchoring mechanism of FRAX and FEI protocols.

The FEI and FRAX will be anchored at $1 value by design. The price anchoring at $1 should be separated into two circumstances to be discussed separately, one…

As Elena protocol is a 100% fair launch project, there was no VC, or pre-sale to raise capital for the expansion of the project, everything was self-funded by the founders. We have set up an eco-system vault for further development of ELENA.

We are introducing Elena Protocol and USE Stablecoin. The goal of USE is to peg to 1 USD. In the Genesis period, we will use DAI as collateral, 1 USE is 100% backed by 1 DAI. We are inspired by many outstanding algorithmic stablecoin projects, i.e. FEI, FRAX, FLOAT, and UST. …

Elena Protocol

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