Elephant Money Protocol Updates: Turbines, Treasury & Protocol Fee Changes
Elephant Money Protocol Updates: Turbines, Treasury & Protocol Fee Changes
🐘 Treasury System Says Goodbye
Key Protocol Changes:
- TRUNK/BTC turbines (1% APR drip) now function as slow-burn addresses, protecting ~8% of supply
- Supercharger holds 2.99M TRUNK ($448K), will help unlock $2.3M in Save.Finance
- Legacy ELEPHANT Treasury ($36K) being retired; new system pays stakers directly via TRUMPET
- Protocol moving to zero-maintenance model on BNB/SOL chains
- All value now stored in LPs ($40M+) instead of treasuries
- Protocol fees exclusively build locked TRUNK/ELEPHANT LP
Impact: Elephant Money reaches final form with deep liquidity and autonomous operations. Focus shifts to NFTs and TRUNK accumulation.
Elephant Money Proposes Strategic Investment in BOOK Protocol
Elephant Money has proposed allocating 0.24% ($100K) of its $41.24M treasury to the BOOK ecosystem on BNB Chain. The investment aims to: - Generate stable coin yield through BOOK collateral and BUD stablecoin positions - Target 150%+ annual yields in year 1 - Distribute 25% of quarterly profits to Unlimited NFT holders - Compound remaining 75% into growing BOOK/BUD positions The proposal represents a shift from passive treasury management to active yield generation. A governance vote is currently active for community approval. Key assets breakdown: - ELEPHANT LP: $35.45M - TRUNK LP: $3.6M - BTC/TRUNK Turbines: $2.52M - TRUNK Supercharger: $0.1M
Elephant Money Partners with NFTScan, Launches NFT Marketplace
Elephant Money has launched its NFT marketplace in collaboration with NFTScan.com, marking its entry into the mainstream NFT space. The platform aims to put control directly in the hands of community members. In related news, a 0.3 ETH donation was made to Unchain Elephant through funds raised by the Animal Remix gallery. Users can continue supporting elephant conservation by creating and minting artwork through the Coinbase Wallet NFT gallery. - New marketplace live at nftscan.com/marketplace/Elephant Money - Community-driven NFT ecosystem - Conservation efforts supported through NFT sales
Unlimited 2.0 Development Update
Elephant Money has announced that Unlimited 2.0, an upgrade to their yield-bearing NFT platform on BNBChain, is in final stages of development. Key points: - Platform upgrade confirmed to be near completion - Will affect FUTURES and Elephant Money Unlimited NFTs - Aims to improve sustainability and long-term profitability The team indicates more detailed information will be released soon. This update follows earlier announcements about changes to the FUTURES system.
Elephant Money Futures Platform Generated $28M in Profits Over 651 Days
The Elephant Money Futures platform is transitioning to Unlimited 2.0 after a successful 651-day run that generated $28M in profits for participants. Key stats: - $40.13M total deposits - $68M paid out to participants - 3,998 total wallets - Average ROI of 45.8% The platform will convert user TVL balances to Unlimited NFTs at $350 per NFT. The new system will pay staking rewards in TRUNK via TRUMPET, consolidating the ecosystem around a single token. Migration deadline is set for November 1st, 2024.