How to Earn Potions on the Elixir Network: A Complete Guide

Learn how to earn potions on the Elixir Network, a new platform designed to enhance liquidity across orderbook exchanges. By participating in various activities and connecting your wallet, you can accumulate valuable potions that will convert into ELX tokens upon the network’s launch. Start maximizing your rewards and explore the potential of the Elixir ecosystem today.

Key Takeaways

• Connect Your Wallet: Link your Ethereum or Sui wallet to the Elixir platform to participate and earn rewards.

• Engage and Earn: Enhance your profile by linking social accounts and depositing assets to accumulate potions.

• Referral Benefits: Use referral links for a potion boost and earn additional rewards by referring friends.

What is Elixir Network?

Elixir Network is a new primitive, built from the ground up to power liquidity across orderbook exchanges. Elixir enables users to deploy liquidity to pairs and exchanges to build trustless features to enhance their liquidity. Elixir opens a new world of possibilities for exchanges, removing the need to rely on centralized firms for deep liquidity. The Elixir Network allows exchange users to tap into a new source of organic yield, increasing orderbook depth and unlocking innovations.

What are Elixir Potions?

Elixir potions are a marker of value contributed to the network by users. They can be tracked within the Elixir Apothecary—potion-generating activities include social contributions, depositing to native integrations, minting elxETH, and referring other users to enter the ecosystem. Running a validator and trading on native exchanges are other planned ways to earn potions. Active validators have been tracked through testnet v1 and v2.

Read more: How to Connect Blum Wallet: Step-by-Step Guide

How to Earn Potions on Elixir

Step 1: Access the Elixir Website

Begin by visiting the official Elixir website to start your journey in the Elixir ecosystem.

Step 2: Connect Wallet 

On the official page, connect your Ethereum or Sui wallet to participate in the Elixir ecosystem and earn rewards.

Step 3: Enhance Profile 

Link your X (Twitter) and Discord accounts to your Elixir profile for a potential bonus on your potion rewards.

Step 4: Unlock the Mystic Chest

• Supply USDC: Deposit a minimum of $100 worth of USDC into an Elixir-powered product on an exchange.

• Mint elxETH for a Bonus: Deposit at least $100 worth of ETH to mint elxETH, Elixir’s Ethereum-backed token, to receive a 50% bonus on your potions. Note that these tokens will be non-withdrawable until Elixir's mainnet launch in August.

Step 5: Utilize Referral Links

Use a referral link to get a 10% boost in your potions. Additionally, refer friends and earn 10% of their potion rewards as a bonus.

By providing assets or engaging with other Elixir projects, you will start accumulating points known as “potions” which are expected to convert into ELX tokens upon the platform’s launch.

Read more: Unlocking the Power of Ethereum with MetaMask: Your Ultimate Crypto Wallet Guide

Conclusion

Earning potions on the Elixir Network is a straightforward process that involves connecting your wallet, engaging with the platform, and leveraging referral links. These activities will help you accumulate potions, which are expected to convert into valuable ELX tokens upon the network’s launch. Start participating today to maximize your potential rewards and contribute to the growth of the Elixir ecosystem.

FAQ

What is the Elixir Network?

The Elixir Network is a platform designed to enhance liquidity across orderbook exchanges, enabling trustless features and organic yield opportunities for users.

How do I earn potions on the Elixir Network?

You can earn potions by connecting your wallet, enhancing your profile, depositing assets, minting elxETH, and using referral links to invite friends.

What are Elixir potions?

Elixir potions are points earned through various activities on the Elixir Network, which are expected to convert into ELX tokens upon the platform’s launch.