What is Elara?

Elara Finance is a treasury management product from the Brila ecosystem. It gives treasuries, allocators, institutions and individual investors a way to earn dollar-denominated yield on stablecoins without having to piece together strategies across fragmented DeFi venues themselves.

The flow is simple: deposit an accepted stablecoin (USDC, USDT or USDe), receive ELUSD, a liquid dollar-referenced token. If you want yield, stake ELUSD into sELUSD, a wrapper that appreciates in value as returns come in.

Yield comes from concentrated liquidity market making on stablecoin pairs. Every position is stablecoin-denominated with no directional exposure, no lending and no credit extension. Capital preservation is the objective that shapes the mandate, though it is an actively managed one rather than a guarantee.

ELUSD is not the same as a fiat-backed stablecoin like USDC or USDT. It targets a dollar peg but carries different risks: there are no fiat reserves in a bank and no government guarantee behind it. Strategy and NAV losses are borne by sELUSD holders, and there is no reserve fund or junior tranche behind them. See the Risk Management section for details.

Elara is not available to U.S., UK, EU/EEA or Singapore persons, or to anyone in a jurisdiction where access would be restricted.