Wrapped ElephantPrice

(WELEPHANT)

WELEPHANT is a wrapped version of the ELEPHANT token, which natively resides on the BNB Chain. It is primarily deployed on the Base network to enable cross-chain utility and participation in broader DeFi ecosystems. By wrapping the original asset, users can interact with various decentralized protocols more efficiently. While it is associated with the ecosystem's stable components, WELEPHANT itself is not a stablecoin; it is a utility asset whose value is derived from the underlying token.

The main difference is the fee structure. The original ELEPHANT token typically incurs a 10% transaction tax, split between holders and liquidity. WELEPHANT is designed to be fee-avoiding for decentralized finance activities. Although the initial wrapping or unwrapping process may involve a small fee (approximately 1%), the resulting WELEPHANT token can be traded or utilized within supported protocols on the Base network without the standard 10% tax, making it more suitable for active DeFi participation.

Users can earn rewards by participating in stability pools or providing liquidity on supported decentralized exchanges. Yields are variable and depend on protocol emissions and ecosystem activity. It is important to note that rewards generally do not compound automatically. Most staking mechanisms within the ecosystem require users to manually claim their rewards and redeposit them if they wish to achieve compounding growth over time.

veWELEPHANT, or vote-escrowed WELEPHANT, is a non-transferable governance token obtained by locking WELEPHANT tokens. It grants holders voting power over the protocol's direction and the allocation of emissions. Unlike standard staking, which often allows for flexible withdrawals, converting to veWELEPHANT requires a time-based lockup. This system is designed to empower long-term participants to influence the ecosystem's development and reward distribution.

WELEPHANT is accessible on the Base network and can be bridged to other ecosystems like Solana using cross-chain bridges. Users can obtain it by wrapping tokens via the official dashboard or trading on supported decentralized exchanges. To manage the asset, users must configure their Web3 wallets to the Base network and import the correct contract address. Once bridged to other chains, it can be used as collateral or in various liquidity pools on local lending platforms.

The ecosystem undergoes security reviews by third-party audit firms to maintain protocol integrity. Regarding asset liquidity, standard staking in stability pools typically has no lockup period, allowing users to withdraw their assets at any time. However, those choosing to participate in governance via veWELEPHANT must adhere to a specific lockup duration. Users are encouraged to evaluate the protocol's mathematical foundations, such as its deflationary supply and protocol-owned liquidity, when considering the long-term sustainability of the project.