Is Elixir decentralized and non-custodial?

There are 10,000+ validators participating in testnet v2, with testnet v3 being launched shortly for public participation. For active funds, the Foundation is running a trusted version of mainnet (with the Foundation running validators).

At mainnet, the Elixir Network will be fully decentralized to a network of validators that participate in consensus. Validators running the network’s infrastructure will be able to participate in the Elixir Foundation Validator Delegation Program, whereby they are eligible to receive Foundation governance token delegation based on infrastructure performance. Validators are expected to participate in Elixir Network governance with the delegated tokens.

Elixir is the only decentralized way for exchanges to bootstrap orderbook liquidity.