Elevate is a decentralized cross-chain bridge that facilitates rapid, secure, and cost-effective transfers of Ethereum-native assets across various Layer 1 and Layer 2 networks, as well as Ethereum Virtual Machine (EVM)-compatible chains.
Value Proposition:
Elevate offers users a decentralized solution for transferring assets across multiple Layer 1 and Layer 2 networks, ensuring transactions are completed swiftly—typically within 10 to 20 seconds—and with minimal fees.
Governance:
Elevate operates under a decentralized governance model, allowing RELAY token holders to propose and vote on protocol upgrades, parameter changes, and other key decisions.
Tokenomics:
Elevate utilizes its native token, RELAY, to facilitate transactions and incentivize liquidity providers within its ecosystem. Users can stake RELAY tokens to earn rewards and participate in the platform's governance, thereby contributing to the network's security and decentralization.
Previous Funding:
In November 2021, Seoul-based digital asset fund Blockwater Management invested $3 million in Elevate.
