How To Work Elephant Money?

Elephant Money is an innovative financial ecosystem built around the TRUNK stablecoin and the ELEPHANT token. It offers various features and products that allow users to earn rewards, stake their assets, and participate in a sustainable economic model. To understand how Elephant Money works, let's dive into its key components and functionalities.

TRUNK Stablecoin:

TRUNK is an over-collateralized stablecoin, backed by a growing asset treasury.
It is not an algorithmic stablecoin but rather a stablecoin that maintains its value through collateralization.
TRUNK can be minted with BUSD (Binance USD) at a 1:1 ratio.
The TRUNK stablecoin can be redeemed for $1 USD equivalent through a redemption queue.
The redemption queue is managed, and participants can redeem their TRUNK for BUSD in chronological order.
The funds used for redemptions are accumulated and paid out over time from the yield generated by the Elephant treasury.

ELEPHANT Token:

The ELEPHANT token is a simple token that you hold in your wallet to earn rewards.
ELEPHANT collects a 10% tax on buys and sells.
50% of these taxes are redistributed to all ELEPHANT holders passively through a process called "reflections/reflection rewards".
This redistribution includes the two largest ELEPHANT holders, the ELEPHANT Treasury, and the Graveyard.
The Graveyard is a contract that receives reflection rewards and periodically rebalances to maintain a 50% balance.
The ELEPHANT token's transaction taxes also assist in building liquidity in the protocol.
50% of the transaction tax goes to protocol-owned locked liquidity on PancakeSwap.

Staking and Bonding:

Elephant Money offers two core products for TRUNK stablecoin holders: staking and bonding.
TRUNK staking acts as a high-yield savings account, allowing users to earn a high variable APR paid out in the TRUNK stablecoin.
Staked TRUNK is fully liquid, allowing users to withdraw their principal and profits at any time.
Stampede Perpetual Bonds are short-term fixed income products similar to high-yield certificates of deposit.
By bonding TRUNK, users receive a fixed 205% APR (672% APY) paid in the TRUNK stablecoin.
Bonded TRUNK cannot be withdrawn all at once, but users receive a daily payout of 0.56% of their deposited amount for 365 days.
Stampede Bonds contribute to the hardening of the treasury system and reduce the circulating supply of TRUNK.

Elephant Treasury:

The Elephant Treasury, also known as Bertha, is the backbone of the Elephant Money ecosystem.
Bertha's main role is to grow her share of the supply of Elephant Tokens, supporting the exponential growth of the value held within the treasury.
The treasury provides constant upward pressure on the Elephant token, raises its floor price, and locks away circulating supply, triggering a supply squeeze.
It acts as a backstop for all system liabilities, including Stampede, Farms, and Futures.
The treasury also serves as an insurance policy for the ecosystem, providing investor confidence.

In summary, Elephant Money combines the TRUNK stablecoin, ELEPHANT token, staking, bonding, and the Elephant Treasury to create a sustainable and innovative financial ecosystem. Users can earn rewards through reflections, stake their TRUNK for high yields, and participate in the growth of the Elephant Treasury. The system aims to provide a permissionless global community bank and a steady state of cash flow for all.