What is elxETH?

elxETH will be a native-yield bearing token backed 1:1 with ETH. Prior to mainnet going live, elxETH contributions will be locked, but earn a 50% bonus on potions compared to USDC deployed to native integrations. Post-mainnet launch in August, this will be an omnichain LP token powering orderbook liquidity across top exchanges (Vertex, dYdX, RabbitX, etc).

At mainnet launch, users will be able to withdraw or begin automatically earning rewards from exchanges.