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$ELXR
Native utility token of Elexir.
$ELXR is the native ERC-20 token of Elexir.
You use your $ELXR to buy Cauldrons or buy in-game perks assets.

πŸ€” Where can you buy $ELXR?

There are three main ways to buy $ELXR token:
  • Bonding: Acquire $ELXR at a discount by bonding with either LP tokens or listed token.
  • Market: Using the Decentralized Exchange (DEX): Trader Joe
  • Reward: Get the produced $ELXR from your Cauldrons

✨ $ELXR Supply

$ELXR has an initial supply of 775 000 tokens.
Distribution:
  • Private sale: 200000
  • Public sale: 250000
  • LP: 25000
  • Vested Team: 100000
  • Marketing: 200000
  • Reward pool: 225000
Why did we didn't mint the Reward pool tokens? Well we decided for the sake of the protocol health to use a burn/mint mechanism instead. So no need for a reward pool.
The burn/mint mechanism is a better control over the supply.
When a user mints a new Cauldron/Cookbook/Claimstone we burn 80% of the tokens, hence increasing the excess reserve of the treasury.
Having extra excess reserve allows the Magic Fed to mint new fresh $ELXR when a Cauldron is claimed.
$ELXR supply does not have a hard cap. Its supply increases when:
  • $ELXR is minted and distributed to the cauldrons owners.
  • $ELXR is minted for the bonder. This happens whenever someone purchases a bond.
  • $ELXR is minted for the DAO. This happens whenever someone purchases a bond. The DAO gets the same number of ELXR as the bonder.
✨ So you get it, the growth of the token supply is indexed to the growth of the treasury: The bigger the treasury, the bigger the supply.
✨ Contrary to other nodes projects, we don’t have to sell $ELXR to acquire liquidity resulting in a selling pressure on the token. We use the bonding mechanism to capture the necessary LP token for the DEX protecting the $EXLR price.
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πŸ€” Where can you buy $ELXR?
✨ $ELXR Supply