Elephant Money – Introducing the TRUNK Stablecoin

Capitalizing on the stablecoin trend, Elephant Money will offer high yields on their new stablecoin TRUNK.

Introducing TRUNK

Elephant Money Stable (TRUNK) makes its debut as a high yield stablecoin. TRUNK aims to keep a tight peg with Binance USD (BUSD) while offering high yield with low smart contract risk.  Yield and value is backed by a novel treasury system built around the core ELEPHANT rewards token and BUSD. TRUNK is designed to be a universal tool for profit taking that can operate in any market conditions and maintain peg during bank run scenarios.

How TRUNK Stablecoin Works

TRUNK is a future-proof way to compound profits made across your portfolio. Lock in your gains by using the Elephant Reserve to mint TRUNK with BUSD. A low processing fee of 1% is charged on minting and redemption of TRUNK. The stable coin is partially collateralized at a fixed 75% BUSD and 25% ELEPHANT. Both collateral assets are securely stored in treasuries protected by Gnosis Safe multi-sig wallets. The 1% minting processing fee is also used to 100% back TRUNK with BUSD in a Pancake LP. The LP provides a dynamic marketplace for arbitrage of the TRUNK stable coin and increased liquidity.

Reward credits are generated on minting and redemption at a rate of 11% and 4% of volume respectively. These credits are distributed to the TRUNK staking pool (8% mint/ 2% redeem), v2 asset pools (2% mint/ 1% redeem), and the performance pool (1% mint/redeem). All pools release funds at 1% a day from their credit balance.

The Elephant Treasury

The Elephant Treasury acts as a store of value and pays interest to stakers in the Elephant Money ecosystem. The Elephant Treasury and use cases built around it acts as a large/active market participant. 

This differentiates it from the passive Elephant Graveyard which also protects the price of ELEPHANT. The Elephant Treasury also receives passive reflection rewards which ensures a collateralization ratio above 1. This is required to fully redeem Elephant at 25% on the dollar along with 75% BUSD guaranteed.

For more information about Elephant Money, visit the following links:

Website

Twitter

Telegram
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

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