ELFi Protocol completed a strategic round of financing of US$5 million and will launch a test network on Arbitrum

Golden Finance reported that ELFi Protocol announced the completion of a US$5 million strategic round of financing, led by IDG Capital and KuCoin Ventures. ELFi is a decentralized derivatives trading platform that has introduced an innovative liquidity pool design, providing the industry's first low-risk stablecoin liquidity pool and LSD re-mortgage liquidity pool. It is reported that the new funds will be used to promote the A testnet has been launched on Arbitrum and public beta testing of Genesis NFT is underway.