TRUNK token (Elephant Money Stable)
$TRUNK token is the Elephant.Money Network’s revenue share token (BEP-20) on the Binance Smart Chain (BSC) that is backed by BNB and offers participants liquid staking yields and farming opportunities.
Token Supply
$TRUNK has a fixed supply that is slowly decreasing from each buyback and burn of TRUNK, all of the tokens have been minted and are in circulation and no more will be minted.
Buying & Selling, Transferring $TRUNK token
TRUNK has no transaction fee on buys/sells/transfers, which makes it a convenient and efficient medium of exchange. TRUNK holders can also lock in their crypto gains and compound their earnings by staking their TRUNK via Trumpet or adding liquidity to TRUNK/BNB on PancakeSwap V3.
Buybacks & TRUMPET Burns
TRUNK is a hyper deflationary token, as 3% APR based on the size of the Elephant Treasury is used to buy back TRUNK off the market and burn 50% of it. The remaining 50% is used to mint TRUMPET, which is also burned, allowing the minted TRUNK to be distributed pro rata to all TRUMPET holders. This way, TRUNK holders receive a share of the protocol profits in the form of buybacks that reduce the overall supply helping support the price, as well through receiving additional TRUNK tokens through TRUMPET contract.
Use Cases
TRUNK is different from ELEPHANT in that it welcomes 3rd party market makers, while ELEPHANT operates with 99% Protocol Owned Liquidity. This gives TRUNK its own unique use-case and purpose, as it allows users to do things with TRUNK that they can’t do with ELEPHANT, such as staking and yield farming.
TRUNK Yield Opportunities
| Action | Product | Liquid |
|---|---|---|
Mint $TRUMPET with $TRUNK | $TRUMPET | Yes, Redeem TRUMPET at anytime |
Provide Liquidity for $TRUNK on PCS V3 | $TRUNK - $BNB V3 LP | Yes, Redeem your LP for the underlying $TRUNK and $BNB at anytime. |
How To Provide Liquidity for the $TRUNK - $BNB LP Pair on PCS V3
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