Elixir ELXPrice $ 0.116

Elixir is a decentralized, modular network designed to power liquidity on orderbook-based decentralized exchanges (DEXs). It operates using a decentralized proof-of-stake (DPoS) system, where validators ensure the accuracy and security of transactions across the network. This system allows Elixir to integrate seamlessly with various DEXs, enabling users to supply liquidity to orderbooks and earn rewards.

Elixir's network architecture includes key components such as exchange feeds, data aggregators, and relay nodes that work together to maintain the integrity and efficiency of orderbook transactions. The platform also supports a synthetic stablecoin called deUSD, which is fully collateralized and used as the preferred collateral across the Elixir ecosystem.

The ELX token is central to the Elixir ecosystem, functioning as both a utility and governance token. It is required for staking by validators and allows holders to participate in the governance of the network, influencing decisions and future developments.