Elephant Money :Elephant Token

What in the world is Elephant Money & Elephant Token?

So I have decided to start investing into Elephant Money.

I had to do a lot of research because there are several moving pieces to this project. (Please bear with me on this project. I’m still very new & am still trying to learn as much as possible.)

In this Elephant money series, we will take a small look at each part of Elephant Money. These will be Elephant token, Elephant Futures, Farms, Trunk token, Stampeded, & Trumpet. We may also mention a little about Bertha & the Graveyard.

In this article, we will take a quick look at the Elephant token & how to earn with it.

(NONE OF WHAT I WRITE IN MY ARTICLES IS TO BE TAKEN AS INVESTMENT ADVICE. I am not an advisor for this nor am I suggesting any financial action on your part. DYOR)

What is the Elephant Money?

Elephant Money is a Defi project that users can earn passive income by depositing funds into different parts of the project. This project has been active since May 3, 2021.

There are many parts to this project.

• Elephant Token — Earn by HODLING this token in your wallet
• Futures — Earning 0.5% BUSD token daily
• Farms — Earn from several LP farms
• Trunk —This is Elephant Money’s stable coin
• Stampede — Earning UP to 0.5% TRUNK token daily
• Trumpet —Earn a variable APR off of you staked TRUNK balance

(In previous series, I have released an article about the project everyday. In this project, I may be able to release an article about this project everyday or I may not. It depends on my research about that section of the project or if I already have another article ready to be released. I do this to “spice” things up a bit & provide variety on my Medium page. Thank you for your patience.)

Ok. Now, lets start by taking a look at Elephant token.

Elephant Token

What is the Elephant token & how does it work?

Here is what the Whitepaper says about Elephant token.

Elephant token is on the Binance Smart chain, that earns HODLers a passive income just for having it in their wallets.

This is done by the following method, using PCS.

1. Every transaction is charged a 10% fee (unless you Buy with Bertha).
2. This 10% fee is then split 50/50.
3. 5% is evenly divided amongst all the other token holders.
4. The other 5% is then added to the token liquidity.
5. 50% of the token is also kept in the Graveyard, to help balance out the token price & rewards towards the users.

(Side note: If you buy using PancakeSwap then the following applies. If you buy using Bertha, on the Elephant Money site then you get a discount on fees but all the transaction fees go back into the treasury & further supports the project, instead of to the HODLers.)

How does this work with real world numbers?

Here is the way I think it works using real world numbers, at the time of this writing.

• According to bscscan, there are approximately 1,000T (that’s 1 quadrillion) tokens available. (https://bscscan.com/token/0xE283D0e3B8cJ9UF016106102BAdF5E8166B73E02D96d92F688)
• There are also 18,589 wallets that currently hold this token.
• Current token value = $0.00000011597
• It looks like the Graveyard is currently holding 50.4786% or 504,785,823,512,341.218877741 tokens ($58,540,011.95).
• The other top 3 wallets are in the contract.
• The fifth biggest wallet, which is probably from a user, is currently holding 8,277,655,309,471.349944975 tokens ($959,959.69) or 0.8278% of the total supply.
• The top 1000th wallet is currently holding 20,835,803,862.763269762 tokens ($2,416.33) or 0.0021% of the total supply.

So if you could buy more than $2416.33 worth of Elephant tokens then you would be in the top 1000th wallets in the contract.

Also, this means that the 5% from the PCS transaction fees are evenly spread amongst 18,589 wallets, depending on how many tokens each wallet has. So each wallet is then paid off of that 5% divided evenly to each token. This is roughly 1 quadrillionth of that 5% to each token.

This means that the more tokens you hold in your wallet then the higher percentage of that 5% you will get.

Imagine that 5% of the transaction fees = $1,000,000 (over a lot of transactions on PCS).

1. $1,000,000 divided by 1 quadrillion tokens = $0.000000001 earned per token.
2. Suppose you have 861968000 tokens (roughly $100).
3. You would then earn $0.861968. That’s roughly 0.8% of $100.

The above example is fine over time & may be more gradual along the way. It may take a while to reach that much in fees through Pancake swap…

So It’s not a get rich quick strategy but more of a growing over time strategy.

What are the risks?

Well, as with all tokens there is risk.

• Will the token price go down after you purchase the tokens?
• How long will it take you to recoup the transaction fees from the earnings?

Have a plan…

If you want to buy & HODL the elephant token then you’ll need to do some planning.

1. Decide how many you want to buy. Do you want to buy a lot at one time or a little over several purchases?
2. Remember that 10% tax will be charged on all elephant token transactions. (8.5% tax when you buy with Bertha.)
3. Watch the token price for a good opportunity to buy & then maybe sell in the future.
4. Decide whether to buy with PancakeSwap or on the site with Bertha.
5. Decide how long you plan on keeping the tokens before taking other actions. Is it worth HODLing the tokens or will they earn more by investing them in the project?
6. Decide on token buy & sell prices. How low do they need to go for you to buy more? How high will they need to get before you sell more?
7. Have a 7th step in your plans. You just can’t stop with only 6 steps. You gotta have at least 7!

In Summary

The Elephant token can earn passive income for you if you have a large enough quantity. You don’t even have to stake them in order to earn. You just have to have them your wallet.

Be aware that all Elephant token purchases are taxed. 10% on Pancake swap, which will then earn you a very small amount back. 8.5% when you buy with Bertha, which will help support the project overall but will not earn you anything from the fees.

It is a good idea to know the risks & go in with a plan, if you want to buy Elephant tokens & HODL them in your wallet for passive income.

Thanks for reading this article. The next Elephant Money article will focus on Elephant Futures. So be on the lookout for it…in the future…

Thanks for reading!

Till next time.

God Speed!

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Here are my top 5 earning articles for February:

1. BNB Miner vs DRIP Faucet vs AF Pig Pen…Part 1
2. Increasing my BNB Miner profits 30% each week!!!
3. Herding the Pigs
4. BNB Miner Strategy Update
5. The life of 100 DRIP tokens in the Faucet…part 3