Elephant MoneyPrice

(ELEPHANT)

Critics suggest the project's high yields, like the fixed 0.5% daily in "Futures," lack external revenue, leading them to believe returns are paid by new capital, which is typical of a Ponzi structure. However, the developer, Bankteller (BT), defines it as a "decentralized community bank." They contend the system's sustainability stems from a growing treasury, "Bertha," which is fortified by a 10% token tax on buys and sells, alongside strategic supply shocks. This model is argued to generate rewards through internal mechanics and ecosystem growth, rather than solely relying on continuous new investor deposits.

On April 12, 2022, an attacker leveraged flash loans to manipulate the price of ELEPHANT tokens during the TRUNK stablecoin minting process, causing a substantial price crash of approximately 75% and an estimated loss of $11.2M to $22.2M. Since then, the project has undergone multiple significant updates, including v5, v6, and "Final Form," to enhance security. Many core contracts have been made immutable, and the specific minting mechanism that was exploited has been either retired or fundamentally redesigned to prevent recurrence. While substantial security measures have been implemented, the project is still considered high-risk, and it is not listed on major centralized exchanges.

TRUNK was initially designed as a BUSD-backed stablecoin aiming for a $1.00 peg. However, it significantly de-pegged following the major exploit in April 2022. The project has since abandoned the $1.00 peg entirely. TRUNK now trades at its market value, freely fluctuating based on supply and demand. It is no longer marketed or intended to function as a stablecoin. Instead, it has been repurposed as a deflationary utility token, with its value now supported by various buy-and-burn mechanisms initiated by the protocol's treasury, "Bertha." Its current utility is primarily as a high-yield asset within the ecosystem.

"Elephant Money Futures" functions as an annuity-style product where users deposit BNB or BUSD to earn a daily yield, historically around 0.5%. A frequent query revolves around strategies for "compounding vs. claiming" to maximize returns. "Unlimited NFTs," on the other hand, are yield-bearing digital assets. Staking these NFTs grants holders a share (1%) of the Elephant Treasury's inflows. A key consideration for investors is assessing whether the NFT's escalating minting price, which doubles every 10,000 mints, is justified by the ongoing yield it provides, balancing initial cost with long-term earnings potential from the treasury share.

"Bertha" is the protocol's large treasury, acting as a significant holder of ELEPHANT tokens. It accumulates tokens through the 10% tax applied to all ELEPHANT buy, sell, or transfer transactions, as well as other system inflows. As Bertha continuously grows its holdings, it effectively "locks" a substantial portion of the total ELEPHANT supply out of the circulating market, reducing available tokens. The community often anticipates a "supply shock," which refers to a projected event where Bertha, combined with the "Herd" (community holders), acquires such a dominant share of the ELEPHANT supply that the scarcity dramatically increases, potentially leading to a parabolic price movement for the ELEPHANT token.

Elephant Money implements a uniform tax of 10% on every transaction involving ELEPHANT tokens. This tax is applied to all buy orders, sell orders, and any transfers of ELEPHANT tokens between wallets. The collected tax contributes directly to the protocol's treasury, "Bertha," and helps to fund various ecosystem mechanisms, including liquidity provision and yield generation for other products within the Elephant Money platform. This tax is a core component of the project's tokenomics, designed to manage supply and provide value to the ecosystem.