🧪$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.

🤔 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.