Rainy Day Fund

The Elephant Money Rainy Day Fund is a new feature introduced in Futures v10. Here are the key details about the Rainy Day Fund:

  • It will receive 10% of all deposits made into the Futures v10 contract.

  • The Rainy Day Fund is designed to give users the option to withdraw a portion of their principal deposit amount in case of emergencies or if they need immediate liquidity1.

  • Users will be able to withdraw up to 10% of the total value in the Rainy Day Fund at any given time1.

  • However, any withdrawals from the Rainy Day Fund will be subject to a 50% penalty, meaning users will only receive 50 cents for every $1 withdrawn1.

  • This 50% penalty is to discourage frequent withdrawals and maintain the integrity of the Futures contract as a long-term investment vehicle.

  • The Rainy Day Fund aims to provide users with a safety net and access to liquidity in case of emergencies, while still incentivizing long-term commitment to the Elephant Money ecosystem1.

So in essence, the Rainy Day Fund offers users the flexibility to access a portion of their principal deposit, but at the cost of a 50% penalty, striking a balance between liquidity and long-term investment incentives within the Elephant Money Futures platform.

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