In the latest edition of Crypto w/Kamal, I take a look back at a few things about Elephant Money to uncover more of what I learned, what I got wrong, and what I got right. Elephant money has an updated website and whitepaper that you can check out at https://elephant.money. According to the website, ELEPHANT.MONEY is simply the first global decentralized community bank of its kind. It is a permissionless system for economic inclusion and helps its community accumulate wealth through active and passive cash flows.
The Elephant.Money Network’s store of value token (BEP-20) on the BINANCE Smart Chain (BSC) that captures value by having the fairest distribution, an auto-rebalancing liquidity building mechanism, and by providing a lifetime of frictionless, passive rewards. $ELEPHANT has a fixed supply of 1000 Trillion tokens, all of the tokens have been minted and are in circulation and no more will be minted. 50% of the supply is held by a rebalancing smart contract called the Graveyard. ELEPHANT tokens has two primary locked liquidity pools located on PancakeSwap, ELEPHANT/WBNB and ELEPHANT/BUSD. Both liquidity pools are 100% protocol owned liquidity. There is a 10% transaction fee on all $ELEPHANT token buys, sells or transfers. HODLers of ELEPHANT will receive non-inflationary passive rewards (RFI rewards) from simply holding the token in their wallet, from every transaction (buy, sell, and transfer) 10% fee; 5% is distributed evenly to all existing token holders, and 5% is added towards locked liquidity. There is a 10% transaction fee for all buys, sells and transfers of $ELEPHANT token done on PancakeSwap ("PCS"). 10% of every transaction for $ELEPHANT token is distributed to existing to token holders and locked liquidity on PCS, split equally 5%. The graveyard is treated as just another holder.
Various actions in the Elephant Money ecosystem send funds to the BUSD Treasury which then executes buybacks, market buys of ELEPHANT token which are then sent to the ELEPHANT Treasury (BERTHA). The buyback system drives additional buy pressure for ELEPHANT token independent of market conditions or buyer behaviors. Below you can find the chart displaying the actions and what percentage of the funds are dedicated to buybacks. Elephant Money has been audited and certified by several recognized and independent security companies. Elephant Money is safe for you to use. As always, please do your own research and this article is for informational purposes only.
A recent stat that I came across is there are at least 2800 futures accounts with monthly $200 deposits, which equates to over half a million dollars going to the Elephant Treasury PER MONTH! This is steady and consistent dedication from depositors in the system account for new futures accounts or if any participants that do more than 1 deposit per month. Now let’s talk Elephant Money Unlimited, also known as Elephant Money NFTs. First and foremost they allow users to Store & Grow your BNB. BNB Maxis take note here! EM is number 2 holder of BNB that allows for perpetual income in Elephant and the ability to exit in future rounds at major profit. Right now we are Round 2, which is priced at 2 BNB to mint. Here are the subsequent rounds and exit structure:
Once again if you see long term value in BNB, this is probably one of the better NFT strategies out there. Hope you found this information helpful, thanks for reading!
