Elixir (ELIX) Crypto Review: A SALT or Ethlend Competitor?
Elixir (ELIX) is an up and coming competitor in the blockchain lending space. Many savvy crypto investors may already be familiar with popular lending blockchain platforms such as SALT and Ethlend, but perhaps Elixir does not ring a bell. In our review of Elixir and it’s native token (ELIX) we will cover important aspects to consider when one decides to invest in a crypto project.
Some of the areas that I will be covering in our Elixir (ELIX) Review include:
Introduction: What is Elixir?
The Team: Who are they?
Marketing Strategy: Will they be able to attract new users?
Investment Analysis: Can this be a profitable investment?
Elixir (ELIX) Cryptocurrency Review: Introduction
So is Elixir just another blockchain lending platform? It’s actually much more than a lending platform Elixir has a mission to specialize in three primary use cases such as the following:
(1) P2P Lending Platform
(3) Payments Ledger
It’s token runs on the powerful Ethereum network thus making it an ERC-20 token. The best exchange to purchase the ELIX token seems to be Kucoin at the moment, and one of the easiest places to store ERC-20 tokens is in a secure online wallet such as myetherwallet.
The Elix token is crucial to the lending platform and is used primarily as the currency of choice on the Elixir platform.Every application within the Elix mobile application and future web applications will be utilizing the Elixir token thus increasing its long-term value.
For a more in-depth analysis of Elixir and it’s native token ELIX be sure to check out their detailed whitepaper by clicking here.
The current market cap of Elixir is valued at a low cap of USD 22,565,077 this means that they will have the ability to increase their market cap considerably over time which could be excellent for crypto investors who accumulate at these price levels. The Elix token has a current circulating supply of 30,909,033 ELIX tokens.
Elixir (ELIX) Blockchain Review: The Team
The team is talented but considerably small for a crypto project, but that is not necessarily a bad thing. It seems that they focus on contracting out areas that demand less of their attention and tend to focus on areas that need their attention the most. At the moment the team is composed of two individuals.
David Jackson Cofounder- Graduate of Stanford University and past work experiences include working as a researcher at Stanford University lab systems and as a researcher at Duke University.
Munir Safi Cofounder- Graduate of Indiana University in Computer Sciences his past work experiences include working as a software developer at General Motors.
Elixir (ELIX) Token Review: Marketing Strategy
They do an excellent job at promoting their brand and is among one of the few crypto projects which entirely takes advantage of social media sites they even have an Instagram account.
I also enjoyed watching their Youtube videos as it explains the benefits of the platform.
Elixir (ELIX) Crypto Review: Investment analysis
With a low market cap valued at approx 20 million dollars, this crypto projects seems to have further room to grow. Because of this reason, I believe it to be undervalued and I feel that this could be a good time to start accumulating ELIX tokens before the platform launches and more people become aware of this promising project.
*As always please do your research before investing in crypto projects this review is my own opinion and is not meant to be taken as investment advice.*