TechFlow Insights
Elixir aims to improve liquidity challenges in the DeFi space through decentralization by integrating DeFi protocols to consolidate liquidity, providing users with an efficient, secure, and transparent trading environment.
Currently, Elixir has integrated with over 30 DeFi protocols and plans to launch its mainnet in the second half of the year, alongside the release of its decentralized dollar stablecoin deUSD.
As a modular DPoS network, Elixir leverages a unique network architecture and liquidity management algorithms designed to open the invisible barrier between on-chain users and DEXs.
Elixir's network architecture consists of two systems: off-chain and on-chain.
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Off-Chain System
First, exchange data sources collect market data from various exchanges.
The data aggregator gathers information from multiple exchange data sources and combines them into a deterministic data framework.
The validator network operates via a delegated proof-of-stake (DPoS) mechanism. Validators are responsible for verifying the correctness of data, requiring 66% consensus to confirm data validity.
The relay infrastructure uses secure enclave technology to manage keys with exchanges. Relay nodes check whether encrypted order proposals have achieved 2/3 consensus, then sign these orders using the keys and send the signed orders to exchanges.
- On-Chain System
Audit nodes receive the data framework and order proposals from the data aggregator and relay nodes. Audit nodes execute strategies to verify whether the order proposals are correct.
The controller is a smart contract responsible for managing staking, rewards, and penalties.
Elixir's network architecture ensures efficient data processing and secure transaction validation through tight integration between off-chain and on-chain systems. The validator network achieves decentralization and consensus via the DPoS mechanism, the relay infrastructure guarantees data and transaction integrity and immutability, while audit nodes and the controller provide additional security and fair execution. Through this multi-layered architectural design, Elixir delivers efficient, secure, and reliable services within a decentralized environment.
Funding History
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In January 2023, raised $2.1 million in seed funding, with participation from FalconX, Commonwealth, OP Crypto, ChapterOne, and Arthur Hayes, founder of BitMEX.
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In October 2023, raised $7.5 million in Series A funding at a $100 million valuation, led by Hack VC, with participation from NGC Ventures, AngelList Ventures, and Bloccelerate.
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In March 2024, announced completion of $8 million in Series B funding, co-led by Mysten Labs and Maelstrom, with participation from Manifold, Arthur Hayes, Amber Group, GSR, and Flowdesk.
