Research summary
Elara takes USDC, USDT, or USDe and mints about one ELUSD per dollar; ELUSD staked becomes sELUSD, whose rate against ELUSD rises once a day as an outside manager, Arken, reports returns from market making in narrow price ranges on stablecoin pools. It held about $298,000 at the 2026-09-30 survey, below the size floor the below-materiality dossier sets, so the individual review of its contracts, keys, and exits is not opened. Its own docs would stop the file even above the floor: Elara is not available to US persons. This is a class disposition with a recorded reopen condition, not a researched rejection.
Observable review triggers
- TVL sustained above the size floor for 30 days
- Elara opens the product to US persons
Facts on file
- Verdict
- Rejected
- Type
- Liquidity pool
- Chains examined
- Ethereum
- Instruments
- SELUSD
- Reviewed
- Last confirmed