62nd Friday Elephant Treasury Update
Blackberry Guy [7/28/2023]
Hello, everyone!
Welcome to the 62nd Friday Elephant Treasury Update (FETU), covering 63 weeks of Bertha progress. You can find all the previous reports on Elephant Money’s official Telegram Channel: https://t.me/elephant_money
This week is the first week that I am publishing the FETU on Medium on behalf of Elephant.Money. This format will allow for more versatility and elaboration of the report. I hope to take advantage of Medium’s strengths all the more every week. The FETUs will always be available on Telegram in its normal format.
Let’s get into the report!
BERTHA TOKEN AND VALUE GAINS
EM Futures is in its 27th week of existence; along with that week has come another significant rise to the Elephant Treasury (ET) — also known as “Bertha.” ET has risen another 2.16 trillion Elephants to 156.35 trillion — ranking 10th highest in 63 weeks of coverage, and 8th highest since Futures launched. This increase follows the previous weekly rise of 1.68 trillion Elephants.
26 out of the last 27 weeks have brought at least 1.22-trillion Elephant ET weekly gains.
Takeaways from the LEADERBOARD LISTS above:
- The Top 10 weekly token gains in Bertha since the Futures launch have all been over 2 trillion Elephants.
- The Top 12 weekly value gains in Bertha since the Futures launch have all been over $1 million.
Bertha gains: 59 out of 63 weeks of coverage — 27 weeks in a row!
TOP 20 ET GAINS SINCE MAY 19, 2022
1) 6.55 on May 19, 2022
2) 5.13 on January 27, 2023
3) 3.91 on February 3, 2023
4) 3.24 on July 14, 2023
5) 3.12 on June 23, 2023
6) 2.94 on August 19, 2022
7) 2.46 on May 12, 2023
8) 2.35 on February 10, 2023
9) 2.31 on June 30, 2023
10) 2.16 on March 31,2023; 10) 2.16 on July 28, 2023
12) 2.10 on May 5, 2023
13) 1.93 on June 16,2023
14) 1.91 on May 19, 2023
14) 1.91 on March 10, 2023
16) 1.85 on August 26, 2022
17) 1.68 on July 21, 2023
18) 1.62 on February 17, 2023
18) 1.62 on Feb. 24,2023
18) 1.62 on April 21, 2023
Bertha’s USD value rose $1,552,000 to $33,867,000 (6:00 PM CDT) — sixth-highest rise since . The July 21 brought a weekly rise of $1,464,000 to $32,315,000. We have seen 8 $1M+ weekly rises in value in the last 11 weeks!
THE IMPACT OF FUTURES AND UNLIMITED ON BERTHA
Bertha has risen by 54.2% in tokens since the launch of Futures on 1/21/23.
Since Futures’ launch, Bertha has added 54.93 trillion Elephants to its size — an average of 2.03 trillion Elephants per week over 27 weeks. Last week the average was also 2.03 trillion.
EM Unlimited minting, which sends BNB proceeds directly to ET, added $148,955 to Bertha in the last week from 622 mints to 2,987 (3,987). Last week 469 mints rose the total to 2365 (3365), adding $114,401 to Bertha.
TARGETING 175T ELEPHANTS IN BERTHA
Here are two of the different methods that we are targeting 175 trillion Elephants in the Elephant Treasury:
1. Averaging since the Futures launch (27 weeks ago).
2. Averaging since Unlimited’s first full week of coverage following its launch (2 weeks ago).
Method 1:
2.03T average: 9 weeks and 2 days (October 1, 2023) — same date as last week.
Method 2:
1.92T average: 9 weeks and 4 days (October 3, 2023) Last week began with a 1.68T average: 12 weeks and 3 days (October 18, 2023)
WEEKLY WATCH ON THE ELEPHANT LPs
75.1T Elephants in the BNB Pool
⬇️1.6T for the week.
$0.0₆2176 ⬆️3.3%
60.3T Elephants in the BUSD Pool, ⬇️0.9T for the week.
$0.0₆2110 ⬆️3.1%
135.4T total Elephants remaining,
⬇️2.5T for the week.
Since May 9, we have seen a total of 44.7T Elephants removed from the LPs, ⬇️24.8%!
Since May 9 we have collectively averaged 3.92T Elephants removed from the Elephant pools per week.
Fewer Elephants in the pools leads to higher prices for the remaining Elephants.
“FOMO MULTIPLIER”
This week the “FOMO Multiplier” stands at 1.16x, as Bertha has gained 2.16T Elephants, while the total reduction of Elephants from the pools last week was 2.5T. Last week’s multiplier stood at 0.83x.
FUTURES WEEKLY GAINS
New Futures participation rose to 1,717–54 more this week versus 62 more last week (1,663).
Futures’ TVL rose $0.61 million to $11.66 million. This rise was the second-highest rise since Futures began. The rise from the week before was $0.54 million.
Futures deposits rose $0.41 million to $8.70 million. I thought it might make it to the second highest weekly rise since the first week of Futures, but we will have to settle for 5th best. The rise from the week before was $0.35 million.
Takeaway from the middle chart above:
— The gap between Bertha’s value growth and the Futures’ TVL continue to widen. That means that Bertha’s ability to take care of whatever liabilities that Futures may throw at her gets easier all the time.
The amount of promotional material continues to grow and organize. New promoters are eager to show that nothing on the DeFi landscape compares with Elephant Money.
Have a good weekend! 🙏🏻🙂
