TechFlow news — Fixed-rate protocol Element Finance has announced the launch of its token ELFI and the establishment of Element DAO. The total token supply is 1 billion ELFI, with 10% allocated for retroactive airdrops, 41% for the community treasury, 21% for investors, 21% for the team, advisors, and strategic partners, and 7% for the foundation. The airdrop snapshot was taken on March 1.
Specifically, a total of 15,870 addresses are eligible for the airdrop. Among them, 9,989 Element users will receive 7.5% of the allocation, including liquidity providers, minters, and traders. An additional 2.5% will be shared between 500 Element community members and 5,381 contributors to the Ethereum ecosystem, including active Discord participants, core Ethereum developers, DeFi projects that Element is built upon, and L2 projects.
Currently, Element users can check their airdrop amounts and delegate tokens to voting nodes via the official website, though direct withdrawal to personal wallets is not yet supported. Community members and Ethereum ecosystem contributors must submit their information through the ZK claims process on the official website and claim their tokens by April 6.
