Blow the Trumpet & Sound the Alarms!
Just when you’d think Bankteller was out of rabbits to pull from the hat, he does it again, this time with TRUMPET. This “up” based contract is designed to accept TRUNK and multiply the ratio upwards so the participant pulls out more TRUNK than they originally entered.
Note: this article has been translated in Spanish by Loreto Acosta Alvarez❤ Click here to support.
What is Trumpet?
- A store of value backed by TRUNK that only goes up in value
- Zero transfer or dev fees
- Pay a low 5% fee on mint and redeem to fund the internal treasury
- No pump and dump is possible and single sided liquidity is locked in the contract
- 100% immutable with zero administrative functions
- Extra transactional volume is generated by the growing Elephant Treasury
TRUMPET is a new use-case for TRUNK token that is designed to lock up more of the circulating supply. While FUTURES and ELEPHANT is still the main focus for growing the Elephant Treasury (Bertha), TRUMPET serves as a solid addition for long-term price appreciation of TRUNK.
The “up” tokenomics are not new and have been implemented elsewhere with MDB+, upEMP, etc. However, TRUMPET has a game-changer unlike other protocols, which is Bertha. The PegSupport governance strategy is now updated so that Bertha buys cheap TRUNK on PancakeSwap (PCS), then immediately mints TRUMPET, and then finally burns that TRUMPET
Bertha’s PegSupport triple whammy of buying TRUNK, minting TRUMPET to then just burn it, will do wonders for boosting TRUMPET price.
How Does Price Only go Up, Though?
The 5% tax on TRUNK tokens in & out of the TRUMPET contract continually raise the price. If there were no transactions, then TRUMPET’s price would not move, but that’s of no concern since Bertha will move the needle.
TRUMPET launched at a ratio of 1 TRUNK per 1 TRUMPET, but has already climbed to a ratio of 1:1.22 at time of this writing, 6 hours since launch. That is a 22% increase in value, so the earliest users are “up” 12% on TRUNK if they sold TRUMPET now, factoring in the 5% tax in and out.
Mathematically, there will always be a greater value of TRUNK in the liquidity pool than the value of TRUMPET in circulation. The contract price will always increase, creating a compound effect as volume increases.
Example of a buy:
If circulating supply = 10k TRUMPET
Backed supply = 10k TRUNK
Backed supply/circulating supply = 10k TRUNK/10k TRUMPET = 1.00A participant deposits 10,000 TRUNK tokens with a 5% tax (500 TRUNK).
Participant receives 9,500 TRUMPET while Backed Supply received 10,000 TRUNK.New circulating supply = 19.5k TRUMPET
New backed supply = 20k TRUNK
Backed supply/circulating supply = 20k TRUNK/19.5k TRUMPET = 1.025, meaning a 2.5% appreciation for all holders.
Now take that same example, but imagine the participant sold their 9,500 TRUMPET immediately (too soon to do that btw, don’t be dumb). That TRUMPET is burned from circulation, and the TRUNK received is taxed 5% again. 9,500 TRUMPET multiplied by the TRUNK per TRUMPET price of 1.025 is 9,743.6 TRUNK the user receives minus the 5% tax (487 TRUNK) for a final amount returned of 9,256.4 TRUNK, yet price still went up.
New circulating supply = 10k TRUMPET
New backed supply = 10,743 TRUNK
Backed supply/circulating supply = 10,743 TRUNK/10k TRUMPET = 1.074, meaning a 7.4% appreciation for all holders.
Hopefully that made sense, but the main takeaway is that the more transactional volume there is, the higher TRUMPET price goes. It does not go down regardless of buys or sells.
Crazy, right?
If volume remains healthy, then TRUMPET will net you more than holding TRUNK alone, and possibly more than the current peg-adjusted contracts of Stampede, Staking, and Farms. Elephant Token and TRUMPET may prove to be the best long-term HODLs of the ecosystem for price appreciation. TRUNK price is on the move and if it crosses the $0.25 threshold, Farmers’ Depot becomes the best liquid TRUNK play that supports Bertha directly.
It is possible the HERD can fix TRUNK price before Bertha is fully recovered, and with major players and protocols jumping into Elephant Money, the prospects are exciting. Let’s take a look…
This is only the beginning. TRUMPET serves as a great store of value for TRUNK rewards being earned from Stampede, Staking, and Farms. So long as participants are dollar cost averaging into TRUMPET alongside Bertha, there are huge gains to be made.
Checkout TRUMPET here: https://elephant.money/trumpet.html
Thank you for taking the time to read this article! Be sure to hold clap for the +50, comment, and share around. Stay safe out there, stay blessed, and make good choices with your crypto.
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Please do your own research and take this information with a grain of salt. The content of this article is solely the author’s opinion and is not that of a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The author does not guarantee any particular outcome.