Elephant Money: 205% Interest on Stable Coin

5 min readMar 17, 2022

As we continue the passive income journey to financial freedom, today I will take a look at the Elephant Money ecosystem. Bankteller is the developer behind Elephant Money. Bankteller’s earlier project Bankroll Flow is the forerunner to DRIP, one of the leading decentralized finance (DEFI) projects paying a fixed, high-yield interest rate. Elephant Money is a DEFI project built on Binance Smart Chain and has the ELEPHANT and TRUNK tokens.

ELEPHANT is a reflections token which pays hodlers a reward for holding the token. Rewards are automatically credited to the holder’s wallet. ELEPHANT is not a stable coin, so price fluctuations impact portfolio values.

TRUNK is a stable coin that pays up to 205% APR depending on whether it is staked or bonded. This is one of the highest stable coin interest rates.


ELEPHANT is described as “a store of value on the Binance Smart Chain.” Hodlers receive passive rewards by holding the token in their wallets. This reward is paid from a 10% fee collected from every transaction involving the ELEPHANT token. Five percent of all fees is distributed evenly to holders, and five percent is added to liquidity for trading the token. By simply holding ELEPHANT in your wallet, your balance will grow as fees are distributed. Because ELEPHANT is not a stable coin, holders benefit from price appreciation but are equally at risk of price decreases. ELEPHANT’s price has been on the rise recently and is up 162% since the start of the year.

About half of ELEPHANT’s supply has been sent to a burn address, reducing the tokens available for sale. By making fewer coins available, the developers hope to drive the price higher.


TRUNK is a partially collateralized stable coin. TRUNK is backed 75% by Binance USD (BUSD) and 25% by ELEPHANT, allowing it to maintain a stable value of $1 USD. TRUNK can be used in two ways. It can be staked to earn interest at a variable rate or used to create Stampede bonds which earn a fixed rate of interest. When TRUNK is redeemed, 75% is paid as BUSD tokens and 25% as ELEPHANT tokens.

TRUNK can be deposited into the staking portal to earn interest. The interest rate on staked TRUNK can never fall below a 30% annual rate but is expected to increase over time as the system grows, and at the time of writing was 64%. Interest earned can be compounded — rolled in Elephant Money parlance — to increase the staked balance and earnings, or it can be withdrawn. The principal is not locked and can be withdrawn at any time.

Stampede Perpetual Bonds

Stampede Perpetual Bonds allow users to create bonds using TRUNK to earn a fixed 205% interest rate (672% compounded for a year). Stampede deposits are burnt and cannot be withdrawn, but they earn interest at 0.56% per day for 365 days. Interest can be withdrawn or can be compounded to increase the principal and grow earnings. There is no maximum amount of TRUNK that can be withdrawn.

The maximum amount that can be withdrawn from Stampede over time is called Maturity. This is always 2.05 times the principal (bonds). Compounding increases principal and maturity. As long as you are compounding, you can continue earning and withdrawing from the Elephant Money system.

The main selling point for the TRUNK token is that it is a stable coin paying a high interest rate. Stable coins typically earn lower interest rates because they do not have the same opportunity to benefit from price increases which can increase yields. The flexibility to either keep your principal unlocked in the staking portal or lock it in Stampede for higher returns is another plus. Many high-yield protocols do not offer this flexibility.

For crypto investors looking for a high-yield investment without the volatility, staking TRUNK is a good alternative. Recent price declines in DRIP created anxiety among some holders who do not understand that compounding over time offset price drops. TRUNK staking eliminates that anxiety. Holders can decide what they want their earnings to be and invest the appropriate amount or compound to reach that target, without worrying about price fluctuations.

Herd Partner Network

Elephant Money added a referral system to Stampede which allows referrers and referees to earn equal rewards when a referral is made. Participation in the referral system is not needed to earn the 205% annual rate, but it helps to grow your balance and earnings faster. The Herd is a simple referral system, with only one level of referral rewards. Reward credits are issued when the referee makes a deposit into Stampede or rolls earnings, with 1% of the deposit or roll split equally between referrer and referee. Both accounts must have over 100 TRUNKs bonded to qualify for rewards.

Final Thoughts

Elephant Money is an addition (started in May 2021) to the growing DEFI applications in the cryptoverse. Elephant Money distinguishes itself from the pack by providing one of the highest interest rates on a stable coin. There are many projects that provide higher rates than Elephant Money, but these are mostly on native tokens subject to price fluctuations. There are many investors willing to take the ride and invest in these tokens to potentially super size earnings from price appreciation. For those seeking peace of mind that comes from a stable and still high return, Elephant Money might be the way to go.

The Elephant Money ecosystem has shown tremendous growth recently, with total value locked and the price of the ELEPHANT token rising sharply. It is still early days, but the trajectory for Elephant Money looks good.

If you found this article useful and is considering joining the HERD Network, please consider joining my team. I’m available for questions you may have, and I offer airdrops to team members.

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This article is for information and educational purposes only, and nothing stated herein is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits, or losses you may incur as a result of this information. Please do your own research and due diligence before making any investment decisions. The author has made every effort to ensure accuracy of the information in this article, but makes no representations or warranties, expressed or implied, to its accuracy, completeness, timeliness, or correctness. The author may own cryptocurrencies discussed in this article.




Accountant (CPA), equity research analyst and crypto enthusiast.