Elixir
ELXThe full report. Score, pillars, arithmetic, risk, scenario, signal and notes.
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About Elixir
Analysis of 24 Jan 2026Elixir (ELX) is a modular Delegated Proof of Stake (DPoS) network purpose-built to power institutional-scale liquidity use cases in decentralized finance. Trading at approximately $0.0035 with a market cap around $1M (rank #3644 on CoinGecko), ELX has experienced a dramatic 99.6% decline from its March 2025 ATH of $0.735.
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The project launched its Token Generation Event in March 2025 at $0.48 listing price. Elixir raised $17.6M across three funding rounds from notable investors including Arthur Hayes (Maelstrom), Hack VC, Mysten Labs, FalconX, and Commonwealth Capital.
The network is secured by 30,000+ global validators using DPoS consensus with 66% supermajority requirements. The project achieved significant institutional partnerships with BlackRock (BUIDL fund), Hamilton Lane (SCOPE fund), and Apollo, enabling tokenized real-world assets to access DeFi through deUSD, a fully collateralized synthetic dollar.
However, deUSD is currently being sunset with claims contracts live for 1:1 USDC redemption, and ELX was delisted from Bithumb exchange in January 2026 due to regulatory concerns. The protocol has been audited by Trail of Bits (twice), Quantstamp, and Pashov, with an active Immunefi bug bounty program.
Total supply is 1 billion ELX with approximately 260 million currently circulating (26%).