Elephant Money Stable (TRUNK)
The Elephant.Money Network’s over-collateralized stablecoin (BEP-20) on the Binance Smart Chain (BSC) that captures value by having a growing asset treasury that manages a redemption queue for $1 USD equivalent and can be deposited into farms or bonded to earn high yield.
TRUNK’s deep liquidity is backed by a TRUNK/BUSD LP pair on PancakeSwap, which ensures that TRUNK can be used as a liquid medium of exchange regardless of funding budget within the redemption pool. In addition to being able to lock in your crypto gains, TRUNK allows participants to compound their earnings by depositing into farms or bonding their TRUNK to earn passive rewards (variable rate APR).
TRUNK also benefits holders of ELEPHANT, as 100% of the BUSD used to mint TRUNK is sent to the BUSD treasury. The BUSD treasury funds are used to buy back ELEPHANT, meaning that the underlying collateral supporting TRUNK hardens over time as the Elephant.Money ecosystem grows.