Question 1

What is ELF, and how does it relate to the aelf network?

Accepted Answer

ELF is the native token of the aelf blockchain; aelf is an independent Layer 1 blockchain. It is not merely an asset for transfers: it is also used for main-chain transaction fees, side-chain block-indexing fees, production-node deposits, and voting in node elections. Therefore, ELF's role should be understood in the context of network operation: on-chain actions initiated by users or applications create fee demand; side chains also need ELF to obtain main-chain indexing and cross-chain capabilities; and nodes and voters participate in production-node elections by locking or depositing ELF. ELF on Ethereum or BSC is a bridged cross-chain version; using it on the aelf chain requires Mainnet ELF.

Question 2

How are transaction fees formed and distributed when using aelf?

Accepted Answer

Sending a transaction on the aelf main chain requires a transaction fee. Under the user-pays model, the final fee has two components: a portion charged based on transaction size and a contract-method fee set by the developer in the contract. In other words, both transaction data size and the invoked contract method affect the cost actually paid by the user. Where fees go also depends on the chain and recipient configuration. Of main-chain transaction fees, 10% is burned and the remaining 90% enters the main-chain reward pool; for a side chain, if a fee recipient is configured, the remaining 90% is sent to that address, otherwise the entire transaction fee is burned. The whitepaper also states that the Parliament may adjust system-contract method fees and configure the list of tokens usable for transaction fees, so the assets that can be paid and the applicable rates cannot be inferred from an ELF balance alone.

Question 3

How do resource tokens relate to ELF?

Accepted Answer

Resource tokens are used to measure resources consumed when the chain or a dApp runs, and developers need to prepare sufficient resource tokens to keep an application operating. The whitepaper lists CPU, RAM, DISK, NET, READ, WRITE, STORAGE, and TRAFFIC as resource types; READ, WRITE, STORAGE, and TRAFFIC can be used to measure, on demand, consumption such as reads and writes, storage, and bandwidth during transaction execution. Resource tokens can be bought and sold with ELF. A 0.5% fee is charged when purchasing them, with 50% burned and 50% entering the reward pool. Resource-token trading uses the Bancor model: the closer the purchased quantity is to the total available resource-token supply, the more ELF is required per unit; as the quantity sold increases, the model's unit price decreases. This mechanism describes the exchange of resource tokens for ELF and resource costs; it is not equivalent to ELF's market price.

Question 4

How are ELF's total supply and block rewards arranged?

Accepted Answer

ELF has a total issuance of 1 billion tokens, described by the whitepaper as a fixed supply. Of this, 120 million ELF (12%) is allocated for mining or block rewards; this means block rewards are a release schedule within the predetermined total, rather than additional issuance above the 1 billion cap. Block rewards are released on a schedule that halves every four years. The initial rule in the whitepaper is: the network produces 8 blocks every 4 seconds, and each block initially produces 0.125 ELF; years 1–4 produce 0.125 ELF per block, years 5–8 produce 0.0625 ELF, and years 9–12 produce 0.03125 ELF. This rule means the release rate of block rewards declines by period, but total supply, circulating supply, and tradable supply are not the same concept and remain affected by prior allocations, locks, releases, and burns.

Question 5

What is ELF's burn mechanism?

Accepted Answer

ELF has burn mechanisms tied to network activity, but the proportions differ by scenario. Of main-chain transaction fees, 10% is burned and the remaining 90% enters the reward pool; if a side-chain transaction fee has no fee recipient configured, the entire fee is burned. Purchasing resource tokens also incurs a 0.5% purchase fee. Half of it—0.25% of that purchase amount—is burned, and the other half enters the reward pool. Burning reduces the amount of ELF actually burned under these rules; it does not change the predetermined total issuance cap of 1 billion tokens, nor can it directly establish circulating supply at any given time.

Question 6

What are the requirements to become an aelf production node, and how is the deposit handled?

Accepted Answer

An individual or team seeking to become a production node must first set up a node and connect it to the aelf Block Explorer, then enter the election as a candidate node. The whitepaper requires candidates to deposit at least 100,000 ELF; the 17 candidate nodes with the highest vote counts are elected as production nodes, with one election round held each week. After election, the deposited ELF is locked; when a node steps down without violating operating rules, the locked tokens can be returned. Conversely, if a production node produces no blocks for 72 consecutive hours, its qualification is automatically revoked and its deposited ELF is burned. Node rewards also depend on actual block-production performance: if block output is below 50% of the average, the node's reward weight is zero.

Question 7

How do lock-ups and rewards work when voting with ELF?

Accepted Answer

ELF holders can vote for production nodes using ELF, at 1 ELF per vote; there is no limit on the number of votes or nodes that can be voted for. A lock-up period must be selected when voting; the default available choices are 3, 6, 12, or 24 months, with a maximum of 36 months. The voted-for node can be changed during the lock-up period. Voting rewards are not determined solely by the amount of tokens held. Reward weight depends on both the voting amount and lock-up duration, with longer locks receiving greater weight; the whitepaper gives daily weight growth rates of 0.1% within 1 year, 0.15% within 2 years, and 0.2% beyond 2 years. Locked tokens may be redeemed after the lock-up period ends, but redemption is treated as relinquishing the vote and no further voting rewards are received. The whitepaper sets voter rewards at 75% of the main-chain reward pool, although the composition and parameters of that pool may be adjusted through governance.

Question 8

Why do side chains need ELF block-indexing fees, and what happens when the balance is insufficient?

Accepted Answer

For an aelf side chain to conduct cross-chain transfers and cross-chain verification, its block information must be indexed by the main chain; the block-indexing fee paid by side-chain developers for this is denominated in ELF. When creating a side chain, developers must deposit a certain amount of ELF in their account, with the specific amount negotiated by production nodes; the side-chain creation application also requires approval from more than two-thirds of production-node votes. After a side chain is successfully created, the deposited ELF is used to deduct indexing fees. Indexing fees are charged per block, and the unit price may be negotiated by the relevant organization and the developer and adjusted through proposals. If the indexing-fee account balance is insufficient, the main chain automatically stops indexing that side chain; cross-chain transfers and cross-chain verification then cannot proceed, and tokens on the side chain cannot be transferred out. Therefore, the indexing fee is not only a developer cost, but also affects the cross-chain availability of that side chain's assets.

Question 9

What are the differences among Mainnet ELF, ERC-20 ELF, and BEP-20 ELF, and what should be noted when transferring?

Accepted Answer

ELF can be bridged between the aelf main chain and networks such as Ethereum and BSC, but the bridged versions and Mainnet ELF exist on different networks. Official documentation lists three main forms: Mainnet ELF, ERC-20 ELF, and BEP-20 ELF; use on the aelf blockchain requires Mainnet ELF. Before transferring, first confirm the network supported by the recipient, then match the token version and address format for that network. In particular, official guidance states that exchange deposits and withdrawals on the mainnet support only aelf MainChain; aelf dAppChain must not be used for deposits or withdrawals. Sending assets to an incompatible network or chain may make them unrecoverable. Bridging is a process for transferring assets between networks; it does not automatically make address formats on different networks interoperable.

aelf (ELF) Price

Price of aelf (ELF) Today in USD

aelf (ELF) Price History

Fear & Greed Index

Why Did aelf (ELF) Fall in the Last 24 Hours?

About aelf (ELF)

Use Cases and Features

Supply and Issuance Mechanism

How to Buy and Use aelf (ELF)

How to Buy

Related Markets

Simple Earn

aelf (ELF) Basics & Market Insights

Fundamentals

Market Analysis

Frequently Asked Questions About aelf (ELF)