Elephant Money: Circulating Supply Q&A
What is the token distribution of the ELEPHANT token?
During the initial liquidity drive event, 25% of a quadrillion tokens was distributed to participants who provided liquidity, while another 25% was used to provide liquidity on PancakeSwap for the official listing. Additionally, 49% of a quadrillion tokens was sent to the graveyard address, and 1% was allocated towards marketing and development purposes.
The total supply of ELEPHANT is 1000T tokens, and all of these tokens have been minted and distributed, the tokens were distributed from the Liquidity Drive Event (LDE) contract. The circulating supply 1000T minus the unclaimed tokens from the LDE. The top holders of ELEPHANT tokens include the graveyard, the Elephant Treasury, and the ELEPHANT/WBNB and ELEPHANT/BUSD liquidity pools. All addresses other than the LDE actively participate in the overall protocol and circulation of tokens. The token supply is fixed, adoption and demand for the token is always increasing. ELEPHANT does not have a burn function or burn address.
The token has a fixed supply of 1000 trillion tokens, and no more tokens will be minted. The protocol owns locked liquidity pools on PancakeSwap for ELEPHANT/WBNB and ELEPHANT/BUSD. There is a 10% transaction fee on all buys, sells, and transfers of ELEPHANT tokens.
Holders of ELEPHANT tokens receive passive rewards in the form of RFI rewards. These rewards are distributed evenly to all existing token holders, and a portion is added towards locked liquidity. The token distribution is designed to promote fair distribution and provide incentives for holding ELEPHANT tokens.
How is circulating supply calculated for ELEPHANT token?
Circulating Supply = Total Supply — Unclaimed LDE tokens
CS = TS — balanceOf(0xF9d64317d4cdA0a6B4Ef41a32E301eA64f8B5Cb3)
How does the Elephant Money ecosystem support price and liquidity?
Firstly, the buyback system and front office (token buyers) drive price appreciation by removing ELEPHANT tokens from the liquidity pool. This reduces the available supply of tokens, creating scarcity and increasing demand, which can lead to price growth.
Secondly, the transaction fees on PCS (PancakeSwap) and graveyard rebalances contribute to liquidity depth. These fees are used to continuously add more LP tokens to the ELEPHANT/WBNB liquidity pool, increasing the liquidity available for trading. Deeper liquidity helps to increase price stability, allowing for medium to large size positions to be traded without causing significant price impact.
Additionally, the Elephant Treasury system plays a crucial role in supporting price and liquidity. The treasury continuously reduces the available “sellable” supply of ELEPHANT tokens through various actions such as buybacks, locking tokens in reserves, and minting TRUNK stablecoin. By reducing the available supply, the treasury helps to maintain price stability and increase the value of the tokens held by holders.
Furthermore, the Elephant Money ecosystem employs a peg support strategy for the TRUNK stablecoin. This strategy includes a redemption queue where arbitragers can buy TRUNK below the peg and redeem it for 1:1 BUSD against the treasury. Additionally, the governance strategy executes buybacks of TRUNK from the TRUNK/BUSD liquidity pool, swapping BUSD for TRUNK to maintain balance in the liquidity pool ratios. These mechanisms help to support the stability of the TRUNK stablecoin and maintain liquidity in the ecosystem.
Overall, the Elephant Money ecosystem supports price and liquidity through mechanisms such as buybacks, liquidity depth building, supply management, and peg support strategies. These mechanisms work together to create a sustainable and stable environment for the ELEPHANT token and the TRUNK stablecoin.
What makes Elephant Money Unlimited NFTs special?
Elephant Money Unlimited NFTs are unique and special for several reasons. Firstly, they are the official NFT collection for the Elephant Money protocol. This protocol implements a permission-less system for economic inclusion and helps its community accumulate wealth through active and passive cash flows. By owning an Unlimited NFT, users become part of this innovative ecosystem and have the opportunity to benefit from its growth.
Secondly, Unlimited NFTs have algorithmic pricing, which means that their value is determined by a mathematical formula. This pricing mechanism helps maintain a strong price floor for the NFTs, ensuring that they retain their value over time. This makes them an attractive investment option for collectors and investors who are looking for assets with potential long-term value appreciation.
Thirdly, Unlimited NFTs can be staked for a share of 1% APR of the Elephant Treasury. By staking their NFTs, users can earn passive income in the form of Elephant Tokens, the core rewards token of the Elephant Money protocol. This provides an additional incentive for users to hold and engage with their Unlimited NFTs, as they can earn rewards simply by participating in the ecosystem.
Lastly, Unlimited NFTs offer unique features and benefits. They come in common and rare configurations, with exclusive rare black cards that can be used at official Elephant Money events. Additionally, when an Unlimited NFT is resold, a 30% royalty is paid out to the Elephant Treasury, further contributing to the growth and sustainability of the ecosystem. These features make Unlimited NFTs not only valuable assets but also a way for users to actively participate in the Elephant Money community.
Overall, Elephant Money Unlimited NFTs stand out for their connection to the Elephant Money protocol, algorithmic pricing, staking rewards, and unique features. They offer users the opportunity to be part of a decentralized community bank and accumulate wealth through a combination of active and passive cash flows. Whether as a collector or an investor, owning an Unlimited NFT provides a gateway to the exciting world of Elephant Money and its potential for long-term growth.
