Futures Deposit & Claim Mechanics
Deposits:
When a user deposits BNB into the Futures contract, 50% of the BNB is used to immediately buy ELEPHANT token off the market. These tokens are then sent to the Elephant Treasury.
20% of BNB is used to immediately buy TRUNK token off the market. These tokens are then sent to TRUNK Turbine. 1% APR based on the TRUNK Turbine's balance is then used to buy back ELEPHANT tokens off the market, and send them to the Elephant Treasury.
10% of BNB is used to immediately buy BTC off the market. These tokens are then sent to BTC Turbine. 1% APR based on the TRUNK Turbine's balance is then used to buy back ELEPHANT tokens off the market, and send them to the Elephant Treasury.
10% of BNB is sent to the Rainy Day Fund. The remaining 10% of BNB is sent to the BNB Reserve. The BNB Reserve will be used exclusively to pay out Elephant Money Futures Yield.
Any fresh deposits made will be added to the users Total Value Locked. If the user has accrued rewards and makes a fresh deposit, rewards will also be added to the Total Value Locked. Deposit/Compounding Example: Total Value = 10,000 USD Available Rewards = 250 USD The user deposits 200 USD worth of BNB. New Total Value = 10,450 (10,000 current TVL) + 200(deposit) +250(rewards)
The user will now earn up to 0.5% per day on 10,450 USD
Claims: When a user claims their accumulated rewards, the BNB Reserve will be used to fund this if the claim amount is less than 1% of the BNB reserve value at the time of claiming.
If the claim amount is greater than 1% of the BNB Reserve value, the Elephant Treasury will sell Elephant Tokens to pay the claim*.
When the user claims accumulated rewards, those rewards are deducted from the users personal TVL. Claim Example: Total Value = 10,000 USD Available Rewards = 250 USD
User claims 250 USD worth of BNB. New Total Value Locked = 9,750 USD (10,000 current TVL) - 250 (rewards).
The user will now earn 0.5% per day on 9,750 USD. There are no taxes or fees of any kind.
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