Savanna Haus is Coming
The mission of Savanna Haus is to maintain the Elephant Money protocol. Secondary to that mission is to promote the adoption of Web3 at large. Savanna Haus provides the business continuity required to serve the Elephant Money community for the long term on-chain and off.
Update 1, 5/2/2024 — Savanna Haus Funding
Savanna Haus is seeking bootstrap funding from the Elephant Money protocol to establish a long term treasury independent from the Elephant Treasury, aka BERTHA. Several solutions were discussed with the HERD and consensus has settled around using Futures v10 to provide a resource efficient bootstrap solution. This allows Savanna Haus to be able to raise funds quickly when needed while otherwise building earning potential, quickly establishing low risk investments to operate long term. In addition, leveraging a Futures v10 loopback keeps the principal funds under the custody of the Elephant Money protocol. Funds are simply redistributed across Futures value stores and BERTHA, 50/50.
A poll was taken with the community on the size of the budget along with discussion. A clear consensus of 3T was made for the budget, given the loopback. Funds will be withdrawn / sold by the Elephant Deployer. BNB will then be sent to the Savanna Haus multisignature (SHMS) wallet. The SHMS will then fund the Futures account directly.
Funding Transactions
BNB Raise via the Deployer
The strategy used was to break the 3T ELEPHANT into 4 chunks and sellof using a multi-route strategy.
- https://bscscan.com/tx/0x6bb0036ee2e2f962e025cc10e02fc07c5a534fc7e7d10b0d0ae76be222071b8a
- https://bscscan.com/tx/0x6de98e698db6ca9398a7dd9145bf126695a1d78191c015213b3d79072349bf5c
- https://bscscan.com/tx/0xe089f621dc36c6d909b683b7a3da9e0dcded8334552f6895234e478174423e52
- https://bscscan.com/tx/0xb42f62bbbd7c3acfb839a9b345cd3f32b862149034e4dfb2ec62a9138308cac9
Savanna Haus Multi-Signature Wallet
Savanna Haus Custody lives at a new multi-signature address separate from Elephant Money Custody. The address for the SHMS along with initial funding details is as follows:
- Implementation — Gnosis Safe
- Address — https://bscscan.com/address/0xd5d3711939d88322a7dceeb529ace4bac3bac644
- Initial Funding — 950BNB ($537K) — https://bscscan.com/tx/0x82e7872c96058f7c5891dd24e9349a6e3b7b7269a5b49d920a2cf390fb8df00c
The SHMS is buying into Futures in 30 BNB chunks that can be tracked at its address (0xD5D3711939d88322a7DCeEB529ACE4BAc3BAc644). 40 BNB was clawed backed from the loopback to cover expenses related to monthly marketing invoices and our summer in person events happening at BTC 2024 and InvestFest 2024.
Savanna Haus is Funded!!!
Over 80 txs later across SHMS, Bankteller, and the Elephant Deployer Savana Haus has received bootstrap funding.
That’s all for now. Stay tuned for the launch of the official website for Savanna Haus.
Update 2, 5/23/24 — TRUNK Liquidity Vote 1
A new Savanna Haus vote is up. 2.5T ELEPHANT was used to add liquidity to TRUNK/WBNB. From an administrative perspective we need that additional liquidity to keep TRUNK healthy as we push forward. The vote considers if we should just use the full 5T to boost the most important long term LP for TRUNK.
Click below to vote
Update 3, 5/24/24 — TRUNK Liquidity Vote 2
Supply additional locked liquidity to the Solana ecosystem. We need to establish additional locked liquidity for TRUNK on the Solana blockchain. This will lead to healthy arbitrage opportunities and bring volume to the Solana side of the TRUNK protocol which will attract additional participants.
Funds will be supplied by the ELEPHANT Treasury.
Click below to vote
Update 4, 5/26/24 — $500K worth of TRUNK/WBNB LP Added / Burned
Add — https://bscscan.com/tx/0xd004a85a8f2038cb7076f94fc3228c3ee5a78ecc927a134530c49208e5de5706
Burn — https://bscscan.com/tx/0x03b01ed5061bb2871a091912e7dab72a40fe19577bb02d86de903c5113106944
Update 5, 5/30/24 — $2M TRUNK/USDC LP Added / Burned
Update 6, 5/30/24 — Turbine Liquidity Vote 3
We need to establish additional locked single sided liquidity in the Turbines on BNB Chain. The larger the initial Turbine positions are the more the ELEPHANT Treasury benefits long term.
Funds will be supplied by the ELEPHANT Treasury.
Click below to vote
Update 7, 6/8/24 — Turbine Update — Final 587K TRUNK Added
https://bscscan.com/tx/0x4dbd1f95ffd0ef4f3709a8564adeea46e795a8eedbef0fc72c43f9df9e567967
Update 8, 8/7/24 — First legal fee payment claimed from Elephant Treasury
$100K worth of ELEPHANT has been claimed from the ELEPHANT Treasury to pay for legal services provided by Perkins Coie for the 2024 Calendar year. Another payment of $150K will be collected before the end of the year. Approval for this distribution was voted on here:
Withdraw of funds can be found here:
https://bscscan.com/tx/0x6e31e0d4180d964fdfa8bdbe9599a57a58c1c72eaad9570dde6bfdf4bdfeab98
