Elixir Storage/Home Village

"These storages contain the elixir pumped from underground. Upgrade them to increase the maximum amount of elixir you can store."

Summary
The elixir storage allows you to save your hard earned elixir so that you can use it for future upgrades. While a high level storage unit is capable of storing 2 million elixir, an attacker may only loot a maximum of 25% up to 200,000 (as of 10th Jan update),  from it by destroying it. When your elixir storages are full, any elixir gained from raids will simply disappear.

The elixir storage building takes up a 3x3 space.

To protect your elixir, upgrading your elixir storage to a higher level than you require for storage purposes can save elixer as the attacker will get less elixir from you per hit. This gives more time for your defenses to destroy the attacker before they can steal all the available elixir.