aelf (ELF) is the native token of aelf, a Layer-1 blockchain that uses a multi-sidechain, "cloud-computing" architecture designed to run parallel chains for scalability. The network is secured by a modified Delegated Proof-of-Stake mechanism known as AElf consensus. Founded in 2017, aelf is categorized as a Platform-Based Utility Token and Layer-1 protocol. The ELF token analyzed here is its canonical ERC-20 representation, bridged to Ethereum, with a secondary bridged implementation also reported on BNB Smart Chain.
aelf differentiates itself through a multi-sidechain design that lets independent chains process transactions in parallel rather than compete for space on a single ledger. The project has positioned itself as an "AI-ready" Layer-1, citing a claimed throughput of 35,000 transactions per second and transaction-fee exemptions for wallets holding 10 or more ELF. A partnership with ChainGPT deploys AI chatbots across aelf's website, Telegram, and Discord, and an AI-powered smart-contract generator is in development.
ELF functions as both a utility and governance token within the aelf network. It is used to pay transaction fees on the aelf blockchain, with wallets holding at least 10 ELF exempt from certain fees. Holders also use ELF to participate in network governance by delegating it toward block-producer elections. Delegators and elected node operators both earn rewards for participating.
aelf has a hard-capped maximum supply of 1,000,000,000 ELF. Circulating supply is approximately 822.72 million ELF as of 2026-09-03.
Emission is disinflationary as remaining supply mines out gradually; additionally, 10% of network transaction fees are burned, with the remaining 90% redistributed to an ELF rewards pool.
aelf's token sale was a private placement held November 28-December 10, 2017, priced at $0.099 per ELF. The round raised 55,000 ETH, reported at the time as over $40 million, and was oversubscribed roughly 5 times with no public sale component. Backers included FBG Capital (reported lead), Alphabit, BlockTower Capital, 1kx, Hashed, Signum Capital, and Galaxy Partners, among others. At genesis, 250 million ELF were allocated to this sale, with no vesting.
aelf is its own Layer-1 blockchain that uses a modified Delegated Proof-of-Stake mechanism known as AElf consensus, secured by elected Block Producers across a multi-sidechain architecture. This multi-sidechain design lets multiple parallel chains process transactions under one network. The ELF token analyzed here is the canonical ERC-20 representation bridged to Ethereum, at contract 0xbf2179859fc6d5bee9bf9158632dc51678a4100e. A bridged implementation is also reported on BNB Smart Chain, though this has not been independently verified beyond that listing.
aelf was co-founded by CEO Auric and co-founder Zhuling Chen. Some industry coverage also refers to the CEO as Haobo Ma. Auric graduated from Tianjin University with a B.S. in Computer Science in 2012 and had a background in Bitcoin and Litecoin trading and mining dating to 2013. Reported team size has ranged from 51-200 employees.
aelf is a Singapore-headquartered project founded in 2017, maintained by its core development team as an open Layer-1 network rather than a tokenized or wrapped real-world asset.
aelf uses a delegated governance model: ELF holders ("Voters") delegate tokens to elected Block Producers and Candidate Nodes, which produce blocks and secure the network. Both voters and elected nodes earn rewards for participation. aelf has also announced the formation of an "aelf DAO" intended to broaden decentralization of governance and ecosystem growth.
An AI-Powered Smart Contract Generator, intended to automate smart-contract coding and auditing, is targeted for Q1 2026. In August 2026, aelf temporarily paused its network and Upbit suspended ELF deposits and withdrawals to complete a system upgrade.
aelf states its blockchain and ELF token contracts have undergone multiple security audits, including by CertiK, with no security issues identified; audit reports are published on GitHub. CertiK's Skynet platform lists a score of 70.68 (BBB rating) for aelf, with 8 unresolved issues. aelf also runs its own Hacker Bounty program co-hosted with CertiK. On the Ethereum-bridged contract, the top 10 holders control approximately 98% of that instance's supply, though this concentration likely reflects bridge, custodian, and exchange wallets rather than individual holders, since most ELF supply resides on aelf's own mainnet.