Elephant Money: 205% Interest on Stable Coin

ELEPHANT Token

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.

TRUNK Token

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.

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 Stampede deposits are burnt and cannot be withdrawn, but they earn interest at 0.56% per day for 365 days. Interest can be withdrawn or can be compounded to increase the principal and grow earnings. There is no maximum amount of TRUNK that can be withdrawn.

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.

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jaycesondon

jaycesondon

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