What is Elysia Finance? Learn about the real estate connection project using blockchain

• What is Elysia?
• Participants
• Borrower
• Investors
• Affiliate Organizations
• Money Pool
• Tokens
• ABToken (Asset Bond Token)
• AToken (Asset Token)
• LToken (Lending Token)
• DToken (Debt Token)
• Tokenomics
• Use case token EL
• The role of the ELFI token in the ecosystem
• The following benefits are provided when staking ELFI . tokens
• Issuance and distribution of ELFI tokens
• Ending

What is Elysia?

As mentioned above, Elysia is a P2P digital marketplace that connects real estate buyers and sellers around the world. The project aims to help real estate developers issue and list “real estate tokens” on their white-label platform so buyers can search and compare real estate investment opportunities. . 

In order for real assets to be recognized on-chain and used as digital assets, not only the logic of the smart contract must be valid, but the link between the blockchain and the blockchain must be carefully managed and monitored. tangible property. Therefore, in order to maintain the ELYFI ecosystem correctly and sustainably, the structure and relationships between the parties must be reasonable and appropriate. Thus allowing stakeholders to draw “fair and reasonable” conclusions about why ELYFI sustains the ecosystem in a particular way.

1. ELYFI is a decentralized project that connects two capital markets in the banking and finance industry: Real Assets and Cryptocurrencies.
2. Anyone can participate and contribute to the development of the project if they agree with the importance of the project.
3. Everyone is free to use and apply the project, but the developers involved are not responsible for the consequences of not complying with the recommendations.
4. Various testing and verification processes will be conducted before the final version of the contract is released.
5. Depending on the version, the formulas and key values ​​may be changed.

Participants

ELYFI works through a continuous interaction between the different participants. Participants make the decision to work remotely in different locations and get paid for their participation in the decision-making process. To link real assets and blockchain, unlike the existing DeFi platform, ELYFI has a group of participants in charge of the actual legal contracts and maintenance.

The participants can be divided into borrowers, investors and affiliated institutions and they are divided into sub-factors. ELYFI has structured a “logic” of operation where, by doing the right thing, participants can reap greater benefits than if they engage in malicious behavior. 

Borrower

Borrowers are a group of users who make a loan collateralized with real assets or cryptocurrencies.

Investors

Investors are a group of users that provide liquidity to the pool and receive interest by depositing crypto assets directly into the pool at ELYFI or by purchasing bonds backed by real assets.

Affiliate Organizations

Affiliates are a group of users that assist in the establishment of bond contracts and act as maintenance of ELYFI's systems and security.

Money Pool

Pool consists of several layers of smart contracts. This is the most important factor in ELYFI. Participants can perform large decentralized financial operations based on Money Pool contracts.

Loans collateralized with cryptocurrencies or real assets are generated through the pool and accrued interest is stored in the pool. Investors who have cryptocurrency deposited in the pool and investors who invest in asset-backed bonds can receive interest stored in the pool commensurate with the size and duration of their investment. . Investors can make a loan equal to the total amount of cryptocurrencies they have deposited in the Money Pool and if the loan exceeds this amount, the loan cannot be created. Therefore, to prevent this from happening, the Money Pool contract algorithm automatically adjusts the interest rate.

The supply and demand for loans and total liquidity are the most important indicators that determine the utility of ELYFI. At the same time, pool risk is an important factor in determining ELYFI's risk. Therefore, mechanisms are needed to mitigate the supply and demand, liquidity, and risks associated with pools. The governance decision-making model identifies variables that are essential to pool risk management.

Tokens

ELYFI creates and destroys different types of tokens. The token represents a participant's state at a given time. Token types include ABToken, AToken, LToken, and DToken.

ABToken (Asset Bond Token)

Borrowers can entrust their real assets as collateral to an escrow provider, to create a bond backed by real assets and then issue an asset bond token ( ABToken). This is a token that differs from other DeFis in that it is linked to a bond.

ABToken is based on the ERC721 standard developed for the Ethereum blockchain for non-fungible tokens and is issued after various administrative and legal procedures and a de facto contract. Through the issuance of ABToken, borrowers can tokenize real assets, connecting “real world” assets with crypto assets in the financial markets.

Borrowers can deposit ABToken issued through a collateral service provider in Money Pool and borrow. The loan is determined based on the value of ABToken issued by the mortgage service provider. As soon as the tokens are deposited into the Money Pool and the loan is made, the tokens will be locked. ABToken can only be unlocked when the loan and interest are paid normally. Collateral can be reclaimed by redeeming ABTokens to the collateral provider. After going through a foreclosure process, ABToken is destroyed or “burned” at the same time as the bond expires.

AToken (Asset Token)

By depositing ABToken into the pool and locking them, investors can directly invest in ABToken deposited as collateral and receive accrued interest from ABToken.

In such cases, a securitized AToken is issued to show that investors have invested in the asset-backed bond. Investors can invest, redeem and receive rewards for a single bond, interacting with AToken. AToken also refers to the amount that investors have invested in ABToken. From the moment investors own the AToken, the interest reward arising from the AToken is recorded. Compound interest is calculated by block and AToken holders can get the reward anytime they want.

ATokens cannot be issued more than the value of ABToken and upon expiration they will be withdrawn from the owner and destroyed.

LToken (Lending Token)

Money Pool investors can deposit certain cryptocurrencies into Money Pool and receive interest income corresponding to assets deposited into Money Pool. When Money Pool investors deposit cryptocurrency, they will receive LToken equivalent to the deposit amount. LToken backed by cryptocurrencies is deposited into the Money Pool at a 1:1 ratio. Owners of LToken can withdraw tokens to exchange for crypto assets at a 1:1 ratio when they want. LToken is the basis for repayment of loans and interest on their investments. Users can also borrow other tokens or buy AToken through LToken.

LToken complies with the ERC20 token standard. When Money Pool investors deposit or withdraw assets from the Money Pool contract, the protocol automatically issues or destroys the corresponding LToken.

DToken (Debt Token)

When a borrower borrows crypto with real or collateral assets, the DToken will be issued and delivered to the relevant deposit address. DToken is an indicator of how much debt the corresponding address has. It also represents the crypto units that need to be deposited to unlock the assets deposited into the pool.

DToken is compliant with the ERC20 token standard, but since it is part of the cryptographic strategy used to indicate borrowed state, there are restrictions on transmission. When the borrower deposits the crypto received as a loan in the Money Pool, the DToken is automatically destroyed when the debt is repaid.

Tokenomics

1. Token EL
   Token EL is used to connect the real world and ELYFI ecosystem. Specifically, the tokens used as fees to convert real assets to NFT will be used as collateral at the DEFI protocol.
2. ELFI Token
   ELFI Token is used for decision making and reward distribution at ELYFI.

Use case token EL

1. Asset bond token generation fee

EL is used to pay the fees associated with the digitization of real assets. Real assets and converted into bond assets, which can be used as collateral to borrow money from DEFI bank.

2. Synthetic token generation fee

EL is used to pay for minting synthetic tokens that match real-time price data. These synthetic tokens that follow real-world asset prices can also be traded through the DEFI exchange.

3. Means of payment for real estate products

Investors can buy real estate products (AToken) with EL. AToken can be redeemed back to EL whenever they want.

4. Security deposit of the escrow service provider

Collateral service providers licensed by the Financial Services Commission can participate in the general Money Pool once they have been approved by the governing body. When entering the pool, they require a deposit and the loan limit varies depending on the deposit amount. If the companies providing escrow services have a negative impact on the ecosystem, the amount of the deposit will be confiscated equal to the amount of damage incurred.

5. Means of paying monthly rental/maintenance fee

• The EL token is currently being used to pay for 47 buildings through Elysia's partner company, Bees Company.
• ELs may receive monthly rent and management fees.
• Building owners can reduce their monthly delinquent rental and maintenance rates, and can fix the value of the building at the time of sale on a solid basis.

* Decentralized buyback and burn

Italy 1, 2, 3 and 5 above will be redeemed or burned with up to 50% of the total profit.

The role of the ELFI token in the ecosystem

The role of the ELFI . token

The following benefits are provided when staking ELFI . tokens

1. Voting power of the ELYFI board
   is an ever-evolving decentralized platform. Changes in policies, formulas and variables, will need the consent of all participants in the ecosystem. Voting participants can participate in decision-making and new policies are determined by majority opinion.
2. Profit Sharing
   When profits are generated at ELYFI, participants can get up to 50% of the profits by staking ELFI tokens. 25% net profit margin can be withdrawn from each Money Pool and the final 25% is automatically burned through each Money Pool's ELFI pairs.

Issuance and distribution of ELFI tokens

ELFI Allocation (Subject to change in governance proposals)

1. ELFI Issuance : 100 million ELFI governance tokens will be minted.
2. Yield Farming ELFI : 60% of total ELFI issuance will be allocated to yield farming and tokens will be distributed to participants who deposit, lend crypto assets or share ELFI tokens.
3. Airdrop & Conversion : Airdrop will be made to existing EL holders to “revive” at the early stage of the ecosystem. ELYFI will also allow EL – ELFI token swaps on a first-come, first-served basis. In addition, part of EL will be burned to give life to the ELFI ecosystem.
4. Members and investors : A portion of ELFI tokens will be allocated to attract strategic investors, partners and team members.

Ending

Above is all the most basic information about Elysia Finance as well as ELYFI cryptocurrency. Hope this article has helped you answer some questions about Elysia Finance.

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