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The ELE token
Token Contract Address (same on every chain): 0xacd7b3d9c10e97d0efa418903c0c7669e702e4c0
The ELE token is a cross-chain deflationary token, native to the Eleven.Finance platform.
Its utility comes from capturing value from the use of our platform. Essentially, owners of ELE are rewarded with fees earned by Eleven Finance. Every time a vault compounds, a portion of the profits is used to buy ELE from the open market. This creates a buy pressure on the token. The ELE accumulated from fees is later burned. To be exact, this burn happens on the 11th every month.
Owners of ELE also have the ability to stake their ELE into our single ELE vault. This vault farms new ELE until all ELE is minted. The vault also earns a percentage of fees accrued by the platform in form of ELE.
ELE was originally launched on the Binance Smart Chain, but was later bridged to other chains like Polygon, Avalanche, Fantom and others. This allowed us to create single vault on every single chain we support.
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