ELFi Protocol Completes $5 Million Strategic Round of Financing and Will Launch Testnet on Arbitrum

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