Overview
Core Components of the ELYSIA Protocol
The ELYSIA Protocol consists of four core components: Tokenization, Distribution, Liquidation, and Oracle. Each component is developed as open source, allowing developers to freely create decentralized applications (dApps) using them.
The ELYSIA Protocol is committed to expanding the ELYSIA ecosystem and promoting the activation of the protocol. For example, to create an RWA (Real World Asset) distribution ecosystem, it launched the ELYFI platform, a DeFi (Decentralized Finance) based on RWA, and introduced lending protocols and open market services.
Tokenization: The ELYSIA Protocol offers a 'real asset tokenization' feature, allowing users to create tokens on the blockchain network that encapsulate the value of physical assets. This enables users to issue RWAs that have the same value as the real assets.
Distribution: Once RWAs based on real assets are issued through the tokenization solution, they can freely participate in the virtual asset financial market. RWAs can be used in various ways, such as buying, selling, or using as collateral, and notably, in ELYFI, a DeFi for RWAs, virtual assets can be borrowed using RWAs as collateral.
Liquidation: If the RWA distributed in the market is transferred to a third party and monetized, the process can be carried out through a dApp with a liquidation function. For example, in the case of RWAs based on loan receivables, if they become non-performing loans due to default, the liquidation process is conducted through an NPL open market.
Oracle: The value and status changes of real-world assets are immediately reflected in the ELYSIA Protocol and RWA through oracles, and this information is utilized in each core component.
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