🌕Tokenomics

Governance Token ELS

Ethlas launched the governance token ELS on the Ethereum network in 2023. ELS represents the official governance and ecosystem token for Ethlas, which aims to integrate the token with different sets of feature releases.

With the Base ecosystem becoming one of the company's close partners, Ethlas chose to launch a wrapped ELS (WELS) on the Base Layer-2 network powered by the infrastructure of LayerZero. As WELS is just a wrapped version of ELS, the conversion price will always be 1:1.