ELEPHANT MONEY'S TRUNK STABLE COIN

The TRUNK stable coin is based on the Binance Smart chain and is a partially collaterized stable coin pegged to the US dollar . It is backed 75% by BUSD and 25% by ELEPHANT. TRUNK is guaranteed to be redeemed for $1 (minus a 1% redemption fee). 

TRUNK's main attraction is its ability to be staked in exchange for guaranteed high yield earnings, through two major contracts: Staking and Stampede.

TRUNK can be either minted or redeemed. Minting occurs when BUSD is sold for TRUNK and new TRUNK is created. Redeeming occurs when TRUNK is sold for BUSD and TRUNK is removed from circulation.

How to buy TRUNK crypto token?

Elephant Trunk token

High Yield Earnings, Passive Income

TRUNK tokens can be minted from BUSD and deposited into a staking protocol that yields a minimum of 30% APR, however historically its has been paying APRs of up to 75% APR. Investors also have the option of compounding the earnings to hugely increase yields. TRUNK crypto tokens can also be locked in the form of bonds through the Stampede contract, which in turn pays out 205% APR. Compounding is also possible, allowing investors to receive earning of up to a sustainable 672% APY.

How rewards are paid out

Rewards that are paid out to all investors in the Staking contract are generated on minting and redemption of TRUNK. 11% is derived from minting TRUNK and 4%  from redeeming TRUNK. This is how percentages are distributed:

When TRUNK is MINTED

  • 1% mint fee goes to pancakeswap liquidity

  • 25% of the deposited BUSD is converted to ELEPHANT

  • 74% of the deposited BUSD is sent to Cash Treasury

  • 10%  sent to Dividend Pool

  • 1%  sent to Performance Pool

Minting Example: if you MINTED 1000 BUSD for TRUNK you would receive 990 TRUNK since you paid a 1% minting fee. However in the background the following goes on:

  • 1% minting fee (10 trunk) would go to Pancake swap liquidity

  • 25% (250 TRUNK) would be converted in ELEPHANT and deposited into the ELEPHANT Treasury

  • 74% (740 TRUNK) would be sent to the Cash Treasury

  • 100 TRUNK (10%) TRUNK would be purchased by the Elephant Treasury and deposited into the Dividend Pool

  • 10 TRUNK (1%) would be purchased by the Elephant Treasury and deposited into the performance pool

When TRUNK is REDEEMED

  • 1% redemption fee goes also to Performance pool

  • 3%  sent to Dividend Pool

  • 1%  sent to Performance Pool

  • If ELEPHANT is above peg 100% is paid in BUSD

  • If ELEPHANT is below peg 75% is paid in BUSD / 25% is payed in ELEPHANT

Redeeming Example: if you REDEEMED 1000 TRUNK for BUSD you would receive 990 BUSD since you paid a 1% minting fee. However in the background the following goes on:

  • 1% minting fee (10 trunk) would be  deposited into the Dividend Pool

  • 30 TRUNK (3%) would be purchased by the Elephant Treasury and deposited into the Dividend Pool

  • 10 TRUNK (1%) would be purchased by the Elephant Treasury and deposited into the Performance Pool

  • If ELEPHANT is above peg ($0.990) at the time of redeeming the payment would be 100% in BUSD

  • If ELEPHANT happens to be below peg ($0.990) at the time of redeeming the payment would be 75% in BUSD and 25% in ELEPHANT.

The 25% buyback of ELEPHANT helps harden the the floor and strengthening the entire eco system over time.

All pools release rewards at 1% of their daily balance.