DeFi protocol Elixir announced on X that it will launch the first phase of the mainnet on October 31, a short stage before the mainnet launch, marking the beginning of Elixir's transition to full decentralization. On that day, Elixir will start the timer for its Genesis Institutional Validator Program and the public mainnet launch. After a short network stability test in this stage, control will be transferred to the community as the public mainnet goes online. At this time, eligible users can claim ELX, run a validator, or delegate ELX to an existing validator. ELX will become a key component of the network and will ensure the integrity and functionality of the Elixir consensus, including governance rights of the protocol.
In addition, Elixir also announced the launch of the Apothecary mainnet phase, which will distribute 750 million potion rewards to active community participants, deUSD minters/holders, and order book LPs in the next 10 months before the public mainnet goes online.