TRUNK token (Elephant Money Stable)
Last updated
Last updated
$TRUNK token is the Elephant.Money Network’s cross-chain memecoin & revenue share token (BEP-20) on the BNB Chain that is backed by BNB and offers participants liquid staking yields and farming opportunities.
BNB Chain (Binance Smart Chain)
Solana
TBD
$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.
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.
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.
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.
| 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.
Provide Liquidity for $TRUNK on Solana Dexes
$TRUNK - $USDC LP
Yes, Redeem your LP for the underlying $TRUNK and $USDC at anytime.
