ELF token
1. What is ELF? What are the use cases of ELF token?
ELF is the native token of the aelf blockchain, serving multiple critical functions within the ecosystem. ELF is used for paying transaction fees on the aelf blockchain.
ELF is used by developers to pay block index fees, as cross-chain transfers and verifications require the MainChain to index the SideChain's block information.
ELF is used by individuals or teams who are interested in becoming block producer nodes. To be one of aelf's block producers, they are required to purchase and deposit ELF tokens to participate in the block producer node election. Upon a successful election, the deposited ELF tokens are locked and will be unlocked and returned once the node steps down, provided no violations have occurred. ELF is used by voters to participate in aelf node elections, with each ELF token equating to one vote.
For more details regarding the ELF token and its tokenomics, please refer to here.
2. Which blockchain is aelf and ELF on?
aelf is an independent Layer 1 blockchain and its native token is $ELF. $ELF can be easily bridged over from aelf blockchain to other blockchains such as Ethereum and Binance Smart Chain, and vice versa.
3. What's the contract address of ELF token?
Ethereum: 0xbf2179859fc6d5bee9bf9158632dc51678a4100e
BSC: 0xa3f020a5c92e15be13caf0ee5c95cf79585eecc9
MainChain AELF: ELF_JRmBduh4nXWi1aXgdUsj5gJrzeZb2LxmrAbf7W99faZSvoAaE_AELF
SideChain tDVV: ELF_7RzVGiuVWkvL4VfVHdZfQF2Tri3sgLe9U991bohHFfSRZXuGX_tDVV
4. What is aelf's tokenomics?
aelf's economic model plays an important role in strengthening the underlying ecosystem, ensuring the overall stability and functioning of the network while encouraging healthy collaboration within the community. For details on aelf's economics and governance, please kindly refer here.
5. Where can I buy ELF? How do I buy ELF?
ELF can be purchased on centralised exchanges, as well as decentralised exchanges. Currently, centralised exchanges that support ELF trading include Binance, Bithumb, Upbit, HTX, OKX, Gate.io, MEXC. Decentralised exchanges that support ELF trading include Uniswap V2, Bancor Network, AwakenSwap.
If you wish to purchase or trade ELF, you should visit any of the centralised and decentralised exchanges that support ELF. Some of the common steps for purchasing ELF include:
Choose a Cryptocurrency Exchange: Select a reputable cryptocurrency exchange that supports ELF trading. Some popular exchanges where ELF is traded include Binance, OKX, HTX and Uniswap. Create an Account: Sign up for an account if its on a centralised exchange like Binance, OKX and HTX. This involves providing an email address, setting a password, and completing any necessary verification steps (like KYC - Know Your Customer). If purchasing on Uniswap, you need to have a supported cryptocurrency wallet such as Metamask.
Deposit Funds: Deposit funds into your exchange account. You can usually deposit cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), USDT, USDC or fiat currencies (depending on the exchange). If purchasing on Uniswap, make sure you have sufficient tokens in your wallet.
Buy ELF: After funding your account or wallet, proceed to the trading section of the exchange and search for ELF. You can then place a buy order, specifying the quantity of ELF you wish to purchase and the desired price. If you are using Uniswap, you can swap other cryptocurrencies for ELF tokens.
Withdraw ELF to Your Wallet: For security purposes, consider withdrawing your ELF from the exchange to a cryptocurrency wallet that you control. This ensures you have full control over your assets.
Remember to conduct your own research and ensure the exchange you choose is reputable and secure. Cryptocurrency investments carry risks, so it’s essential to exercise caution and only invest what you can afford to lose.
6. Which centralised exchanges is ELF listed on?
ELF is listed on several major centralised exchanges. As of the latest information, ELF is available on the following exchanges:
Binance, Bithumb, Upbit, HTX, OKX, Gate.io, MEXC
For the most accurate and up-to-date information, you can visit CoinMarketCap or CoinGecko, or check directly on the exchange platforms.
7. Which decentralised exchanges is ELF listed on?
As of the latest information, ELF is listed on several decentralised exchanges (DEXs). Some of the notable DEXs where you can trade ELF include:
Uniswap V2, Bancor Network, AwakenSwap
For the most accurate and up-to-date information, you can visit CoinMarketCap or CoinGecko, or check directly on the exchange platforms.
8. Which exchanges support aelf mainnet? Which exchanges support ELF deposit from aelf mainnet? Which exchanges support ELF withdrawal into aelf mainnet?
As of the latest information, here are the exchanges that support the aelf mainnet for ELF deposits and withdrawals:
Exchanges supporting aelf Mainnet include Binance, Bithumb, Upbit, HTX, OKX, Gate.io, MEXC, and these exchanges support deposits and withdrawals of Mainnet ELF tokens.
Please note that the exchanges supporting aelf Mainnet only support token deposits and withdrawals using MainChain AELF. You should never deposit or withdraw using SideChain tDVV as this may result in your tokens being lost forever.
We recommend verifying the latest information on the exchange platforms or aelf official channels.
9. Should I buy ELF?
As with any investment, it's important to do your own research and consider the risks involved. Here are a few key points to consider:
Understand the Project: ELF tokens serve as the native currency of the aelf blockchain, designed to offer a highly efficient, scalable, and secure platform for developers and users. Learning about our technology, use cases, and future roadmap can help you make an informed decision.
Market Conditions: Cryptocurrency markets can be highly volatile. It's essential to stay updated on current market trends and understand that prices can fluctuate significantly.
Financial Situation: Only invest what you can afford to lose. It's important to ensure that any investment in cryptocurrencies fits within your overall financial plan and risk tolerance.
We encourage investors to regularly visit our official website and X for up-to-date information about aelf and its growing ecosystem.
10. Why is the ELF token falling? Why is the ELF token rising?
It’s important to note that cryptocurrency markets are highly volatile and can experience significant fluctuations in short periods of time. The price of ELF tokens, like all cryptocurrencies, can be influenced by a wide range of factors including market demand, overall market conditions, technological developments, regulatory news, and macroeconomic trends.
For specific reasons behind recent price movements, we recommend following reputable news sources, market analysis, and monitoring updates directly from the aelf team through our official website and X.
Always conduct your own research or consult with a professional before making any investment decisions.
11. Can I buy ELF using credit card?
Yes, you can buy ELF using a credit card on Portkey Wallet via the third-party payment method AlchemyPay, which supports fiat-to-crypto transactions.
12. Can I buy ELF using bank transfer?
Yes, you can buy ELF using bank transfer on Portkey Wallet via the third-party payment method AlchemyPay, which supports fiat-to-crypto transactions.
13. Can I buy ELF peer to peer p2p?
At present, there are no P2P platforms that list ELF. However, you might still find users willing to engage in P2P transactions through cryptocurrency forums, communities, or meetups. Please be aware that P2P transactions not supported by a platform carry significant risks. It is advisable to manage risks carefully and avoid trusting others too readily to prevent potential fraud and asset loss.
14. Can I buy ELF OTC?
At present, there are no OTC platforms that list ELF. However, you might still find users willing to engage in OTC transactions through cryptocurrency forums, communities, or meetups. Please be aware that OTC transactions not supported by a platform carry significant risks. It is advisable to manage risks carefully and avoid trusting others too readily to prevent potential fraud and asset loss.
15. Is there ELF perpetual or futures trading? Can I leverage trade or margin trade or short ELF?
At present, MEXC exchange supports ELF perpetual trading. Other exchanges, such as Binance and OKX, support margin trading for ELF, but only for spot trading pairs.
Always conduct your own research or consult with a professional before making any investment decisions.
16. What is ELF's maximum supply?
The maximum supply of ELF (aelf) token is 1,000,000,000 tokens. The token is not inflationary and there will never be more than 1 billion ELF tokens in existence.
17. Is ELF maximum supply hard-capped or soft-capped?
The maximum supply of ELF is hard-capped, which means that the total supply of tokens is fixed and cannot be increased. This is different from a soft-capped supply, where the maximum supply can be increased or adjusted over time. The hard-capped maximum supply of ELF ensures that there is a finite amount of tokens available and the supply is not inflationary. It also provides transparency and predictability to token holders and investors.
18. How many types of ELF tokens are there currently? Are they the same? ERC-20 vs Mainnet-ELF?
Currently, there are three main types of ELF tokens: Mainnet ELF, ERC20 ELF, and BEP20 ELF. To use ELF on the aelf blockchain, you would need to use Mainnet ELF.
If you have ERC-20 ELF or BEP-20 ELF tokens and wish to use them on the aelf blockchain, you would need to convert or bridge them to Mainnet ELF using ETransfer or eBridge.