How to transfer tokens

In order to deposit/withdraw or stake in the ELYFI protocol, you must have specific tokens in your wallet. Check the usage of each token, and keep it in your wallet as needed.

• Where to use DAI, USDT, BUSD, etc.

  • Tokens such as DAI, USDT, and BUSD are required to ‘deposit’ to the ELYFI protocol.

• Where to use EL or ELFI

  • EL Token: Required to use EL Staking.

  • ELFI Tokens: Required to use ELFI staking.

• Where to use Ether (ETH)

  • Ether (ETH) is used as a means of payment for network usage because the Ethereum network is used whenever actions such as deposit/withdrawal and reward token receipt and staking are performed.

• Where to use BNB

  • BNB is used as a means of payment for network usage because the Binance Smart Chain(BSC) network is used whenever actions such as deposit/withdrawal and reward token receipt and staking are performed.

Please refer to the following video on how to transfer tokens from an exchange to your personal wallet.

• How to transfer DAI/ETH MetaMask wallet