Elektrik Token Economy

Elektrik employs a dual token structure as a part of its token economic operations:

  • $ELTK: The native ERC-20 token for the Elektrik protocol. It acts as the base utility token used within the system.

  • $veELTK: An ERC-721 token in the form of a non-fungible token (NFT) and is created when $ELTK holders vote-escrow (lock) their tokens. The amount of $veELTK received is proportional to the lock period, with longer lock periods resulting in more $veELTK.

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