Elexir: A Passive Income Defi Protocol review

Elexir aims to be a high-yield DeFi protocol that lives at the crossroads of these different trends and builds on top of models that have been experimented with and tested on the market—mixing the power of NFTs, the robustness of these trends OHM, simplicity of DaaS and fun of GameFi.

To do so, please let us introduce you to the three main actors in Elexir: Wizards, the MagicFed & the MagicBank! They are tradable: each cauldron is an NFT that generates yield in $ELXR, meaning that you’ll be able to gift it to fellow wizards or trade-in on third-party markets.

They evolve: a cauldron starts at level 1 with a base reward. You’ll then be able to level it up to increase the reward (APR) of your cauldron.

But they are fragile: If you claim your produced $ELXR out of the cauldron, it will explode and will not produce $ELXR anymore! Unless you use a Claim Stone (wait for it, we’ll get to it in a couple of paragraphs).

You’ll use your $ELXR to buy Cauldrons to produce more $ELXR or buy in-game perks assets.
But that’s not it! You’ll also be able to stake your $ELXR. Staking your $ELXR will let you access game assets airdrops events that will be held every week. Farmable NFTs

Cookbooks & Claim Stones
Cookbooks and Claim Stones are the first in-game perks assets we’ll release at launch to spice up the game. You’ll be able to buy them with $ELXR, and they’ll provide you with special perks.

Cookbooks will be required to level up your cauldron, thus increasing its base daily reward. Each level will be associated with a number of cookbooks you’ll have to sacrifice in the cauldron to make it bigger and produce more $ELXR!

Claim Stones will be in need when you want to claim your $ELXR from a cauldron without making it explode! This one will cost you a fair share of $ELXR, though! Or… you’ll be able to stake your $ELXR is a single-sided staking pool to earn Claim Stones over time!

Mana — Cooldowns
Lastly, wizards have Mana! Mana is like the energy bar you’ll use when performing specific actions like buying a new cauldron. The Mana is like a cooldown mechanism found in other games.

Mana will act as a limiting factor for extreme behaviours like creating too many cauldrons in a short period.

The MagicFed is the DAO ruling Elexir’s economy. Its main goal is to make sure that the treasury is stable constantly and the user rewards consistently.
To do that, the Magic Fed will. The MagicBank is the treasury of Elexir. A treasury is like a big vault where we’ll store multiple assets. This treasury is constantly fighting to increase its volume for two causes:

Base Daily Return: 0.2 $ELXR/day, this is the return of a level 1 cauldron.

Twitter: https://twitter.com/EarnElexir

Website: https://elexir.finance/

Medium: https://medium.com/@elexir0x1

KYC certification: https://www.staysafu.org/kyc/elexir

WhitePaper:

https://medium.com/@elexir0x1/elexir-light-paper-part-1-ce4f22c1b4d5
https://medium.com/@elexir0x1/elexir-light-paper-part-2-d79b86785a18
https://medium.com/@elexir0x1/elexir-light-paper-part-3-548b980e613f

Fun
Building wealth should be entertaining and engaging! We’re bringing gamification to lower the barrier of entry of DeFi and make it a delightful experience.

Seamless
Using DeFi should not feel like flying an airplane. We’re building best-in-class product UI/UX to onboard a broad audience.

Sustainable
The protocol is built with sustainability in mind. It lays on top of strong mechanics to make it thrive long-term. When this thing goes, we think it will go! This project already has over 9k people in the discord. Presale sold out very quickly.