Elephant Money: A Game Changer for yield in DeFi for Passive Income
About 2 months ago, I was speaking with my friend about some of his own crypto investments and one of them that really stood out for me was called Elephant Money. He went on to explain how the ecosystem worked and I listened in and was pretty impressed. However, what really impressed me were the yields offered by the platform. What if I told you can automatically double your stablecoin in a year after bonding it or earn .56% a day on it, with compounding turning that into 672% APY? Well my friends, that is totally possible through this platform.
What is Elephant Money?
Elephant Money is a stablecoin yield platform on the Binance Smart Chain. It was created by a developer that goes by the name of Bank Teller/Tony Perkins, he is fully doxxed and you can find him on LinkedIn. He is an MIT graduate in computer science with an amazing background in finance. He put together systems for some very large investment firms. He has been in crypto since the very early days of BitCoin and created the Elephant money platform using his knowledge. I will briefly cover each one with the focus on the method that earns the 672% APY. The first way is buying and holding their Elephant reflection token, where you earn reflections (more of the token) as people buy and sell the token. The second way, is through minting their partially collateralized stablecoin called TRUNK, which is backed by 100% BUSD, and staking it for a base APR of 30%. As of this writing, the APR is currently sitting around 90~% APR (on stablecoin!). The third method, is their bonding system called Stampede, this system is a lot like DRIP network where your initial deposit is burned/locked into the system and you are paid out .56% daily in TRUNK where you can claim up to the bond maturity or roll the rewards back in via compounding. Keep in mind, the rewards in stampede are not yours until claimed, so claim as needed. Stampede automatically offers 205% APR when you deposit TRUNK into the system, and if you compound your earnings daily, 672% APY which is amazing.
Sustainability of the platform
The sustainability of the elephant ecosystem depends on the treasury. It must grow in size using mechanisms other than deposits from Stampede bonds/minting/redeeming. Here’s something interesting about how this is sustainable, the elephant treasury acts as the largest holder of the Elephant reflection token and receives massive amounts of reflections. If investors decide to sell, and the price depreciates there will always be a time when Elephant will be a good buy because it acts as a utility for TRUNK staking and TRUNK Stampede, and so long as there is demand for stable coin yield farming the Elephant token will always positively affect the price of Elephant. In essence, as long as people want high yields on their profits in stablecoin, the system will sustain itself.
Stampede Flow breakdown
Here is a breakdown of Stampede.
- Trunk is deposited into Stampede.
- 50% of the bonded amount is sent to Pancakeswap as liquidity, 50% of the bonded amount is sent to the Elephant Treasury.
- .56% of the total bonded amount is paid out every day from the Elephant Treasury
- Roll or Claim your rewards.
As of early February, I deposited about $123 of spare BNB into the Elephant token, and today as of 4/5/2022 I have essentially 10X’d my deposit. I have never done an 10X before and it just keeps going up.
I am more so heavily invested in the Stampede bond system. I deposited into Stampede around the same time that I bought Elephant token and have not lost a dime whatsoever! I am definitely going to be putting any extra money I have towards Stampede, including any profits from my node projects to lock it all into stablecoin.
Getting Started in Stampede
- go to https://elephant.money/trunk.html with some BUSD in your wallet
- Input BUSD amount in this box, and make sure to click that slide button to approve the minting functionality for a few cents worth of gas.
3. Click Mint and you will receive TRUNK
4. (optional) if your initial deposit is over 100 TRUNK. You can add a partner wallet address here, it creates a 1:1 team with that partner, a 1% reward for deposits and rolls are split, so .5% bonus per person on theirs and your own deposits/rolls.
5. Head over to the Stampede box > BOND > enable Stampede on the slider > approve transaction for a few cents of gas > Click Bond.
6. Go to OVERVIEW after a few seconds and you will see your deposit in Stampede. Be aware that like DRIP your deposit is burned/locked into the system, you may withdraw it at a rate of .56% a day. So you could just let it sit in there until your rewards build up and withdraw if you wanted, although it is recommend to compound for a while and build things up. :) I hear from the telegram chat that when you’ve really got things built up, you can do a compound 4 days/claim 3 days sort of strat so you can pull some money out but continue to increase your bond maturity. The key is to never hit max on the bond maturity, if maxed it needs a fresh deposit to increase and further compounding.
I hope this article was informative on Elephant TRUNK. I highly recommend reading their whitepaper before depositing anything so you can understand the system.