*The abbreviated version of the video is that you get some ELK on the Fantom chain, use ElkNet to bridge that ELK to the Avalanche mainnet, and then create the LP pair with ELK/AVAX and farm away!*
Fantom (FTM) / ELK Tip Jar on Fantom Opera Mainnet: 0x42039a36b994477B14fE56302B26236DB4e6e864
***Note: All the information provided in this video tutorial is provided on an “as is” and “as available” basis and you agree that your use of such information is entirely at your own risk. You should not construe any such information or other material in my video tutorial as legal, tax, investment, financial, or other advice. Nothing in this video or on my YouTube channel constitutes a solicitation, recommendation, endorsement, or offer by myself or any third party. I am not liable for the loss of any fiat/assets/tokens as a result of you following the steps presented here and this is not investment advice and I am NOT an investment advisor. The opinions expressed in this video tutorial are for general information and entertainment purposes only and are not intended to provide specific financial and/or tax advice or recommendations for any individual or on any specific cryptocurrency token or investment product.***
In this video tutorial we take an in-depth look at another player in the Fantom (FTM) ecosystem: ELK Finance. ELK Finance is actually tied in to 15 other ecosystems and offers myriad options with these other ecosystems (like Binance, Matic, and Avalanche) for farming and staking. We take a look at one of the best features of farming/staking with ELK Finance and that is their protection against impermanent loss (IL). For Avalanche and Fantom mainnets, this is an awesome feature. We go over adding the Avalanche mainnet to your Metamask wallet along with the ELK token. I then demonstrate two (2) ways to get ELK from the app.elk.finance site (swapping/harvesting) and then introduce you to the ElkNet cross-chain bridge (in BETA!). We then transfer ELK from the Fantom mainnet to the Avalanche mainnet to pair with AVAX. We see that the ElkNet bridge takes a few minutes, but you can’t beat it for the flexibility! We then create the Liquidity Pari (LP) tokens using ELK and AVAX on the Avalanche mainnet and drop them into our farm! A great way to earn ELK and leverage your AVAX assets!
Enjoy and the links to the sites I mentioned are below!
Impermanent Loss Calculator: https://dailydefi.org/tools/impermanent-loss-calculator/
RPC Info Site: https://rpc.info/