Elixir is a blockchain platform that enables users to make payments, generate and request loans, and crowdfund projects. As stated on its website, the platform outperforms traditional payment, lending, and crowdfunding methods because of its trustless and irreversible nature.

The Elixir lending service seeks to offer an authentic peer-to-peer lending experience. These loans offer a financial incentive for borrowers to repay their loans on time and a financial incentive for lenders to provide these loans to borrowers. Both the borrower and the lender are rewarded for a practical loan involvement.

In addition, the payment ledger on the platform aims to allow users to track, monitor, and seek payments. The platform believes that ease of use and a user-friendly interface can promote adoption. The platform's goal is to create smart contracts to facilitate decentralized crowdfunding. Also, to ensure that users have clear information about who and what they're supporting, the network helps establish the validity of initiatives supported on the platform. A portion of crowdfunding earnings provides one conceivable revenue stream for Elixir, with millions earned for single blockchain projects.

According to its whitepaper, one of the core purposes of Elixir is to create a new credibility/reputation system linked to a user's wallet address. By utilizing this mechanism, requesting a loan on the global lending platform is as simple as specifying the amount of Elixir a borrower wants, the time required for payback, the number of installments they'll make, and the collateral they'll put up to assure the loan's payback. Besides that, the platform has a long-term goal to create a token-backed credit scoring system. A tally of token rewards can be used to represent a credit score.

ELIX token is the platform's cryptocurrency built on the Ethereum blockchain. The token has the ability to leverage the power of smart contract creation. Unlike other currencies, which require strong machinery and computing capacity to produce tokens, Elixir is mined through time. The mining process began with the distribution of genesis addresses through an airdrop.

The Elixir platform was launched in 2017. The token's maximum total supply size is currently 139,356,672 ELIX.

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