Elephant Money

Elephant Money (ELEPHANT) is a digital asset that operates on the Binance Smart Chain. It seeks to provide a unique approach to wealth accumulation through both active and passive compensation methods. ELEPHANT is designed to serve as a store of value, with a transaction fee of 10% applied to all transfers of the token. This fee is divided equally between payments to existing holders and locked liquidity. The ELEPHANT token is part of a larger ecosystem that includes a treasury and a stablecoin called TRUNK. The treasury is used to generate yield for the managed redemption of the TRUNK stablecoin. ELEPHANT holders may receive compensation simply by holding the token in their wallet, as every transaction (buy, sell, and transfer) incurs a 10% fee, half of which is distributed evenly to all existing token holders, and the other half is added towards locked liquidity.

Elephant Money operates on a mechanism that involves a transaction fee on all transfers of the ELEPHANT token. This fee is split evenly between payments to existing holders and locked liquidity. The ELEPHANT token is part of a larger ecosystem that includes a treasury and a stablecoin called TRUNK. The treasury, also known as Bertha, acts as a reserve of funds used to absorb the circulating supply of ELEPHANT and provide funding for the redemption pool. The treasury collects compensation from incoming trading volume and ensures a managed redemption of 1:1 regardless of peg. This means that holders can always redeem TRUNK for $1 USD worth of assets, as long as they are willing to wait in the redemption queue for the system to receive the funds to process their order.

Elephant Money seeks to provide a unique approach to wealth accumulation through both active and passive compensation methods. It can be used as a store of value on the Binance Smart Chain, with a transaction fee applied to all transfers of the token that is divided equally between payments to existing holders and locked liquidity. The ELEPHANT token is part of a larger ecosystem that includes a treasury and a stablecoin called TRUNK. The treasury is used to generate yield for the managed redemption of the TRUNK stablecoin.

Elephant Money has a starting supply of one quadrillion ELEPHANT tokens. The initial token distribution took place as a 1-week liquidity drive event, from 05/04/2021 - 05/11/2021. During this period, participants could add BNB as liquidity to receive ELEPHANT tokens. The distribution of each ELEPHANT token was determined by the amount of tokens available and the total BNB amount raised after the liquidity event had ended. Once the raising period concluded, 25% of a quadrillion tokens was distributed to those who provided liquidity during the drive, 49% of a quadrillion tokens was removed from circulation and sent to the graveyard address, 1% was allocated towards marketing and development purposes, and the remaining 25% was used to provide locked liquidity for the official distribution.