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.
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