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How To Earn 672% APY On A Stablecoin: An Introduction To Elephant Money

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9 months ago
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As much as I am passionate about my daytime job, I also seek to expand avenues of passive income in the hope of, perhaps an early retirement? While cryptocurrencies present such lucrative earning opportunities that may be seldom found in the traditional financial sector, it is also laden with pitfalls and scams to watch out for. There has been a lot of hype recently surrounding Elephant money, what with generating 672% APY returns, of which I was skeptical. Is it just another hyped up, fancifully named project that has no intrinsic value? However, after a meticulous research via a Google deep dive, I soon found myself joining the bandwagon; after all, what better way is there to learn about an ecosystem than to be a part of it?

An Introduction: Who Is The Satoshi of Elephant Money?

Elephant Money is a project developed by Tony Perkins, also known as BankTeller, in May 2021. Tony holds a BA in computer science from MIT and a MSAS from Boston University, and has a solid background in blockchain development. He created Elephant money with the aim of providing high yield and capital appreciation regardless of the market seller, by compounding profits generated on the BSC. You can follow him on social media, the official Elephant money telegram group and also in blogs such as medium, where he regularly posts updates on the project. 

I appreciate the transparency of the team behind Elephant money, as this confers a sense of security and authenticity to the project; in contrast to, say, a creatively-named token created by an anonymous entity, which pumps and dumps in the classical rugpull scenario of ‘shitcoins’ which has become all too prevalent nowadays. 

Image taken from MyCryptoFitness

Security Audits

Elephant Money has 2 security audits by Certik and Solidity Finance

Image taken from Certik

It scores 92 out of 100 on Certik, based on a number of parameters listed below.

Image taken from Certik

Though not perfect, this is quite an impressive score. But of course, as with all cryptocurrency offerings, there is no absolute guarantee — so do take it with a pinch of salt and only invest a portion of money that you are comfortable with.

The Coins of The Elephant Ecosystem 

There are 2 such tokens, namely the Elephant Money and the Elephant Money Stable, cheekily coined the Trunk. 

Elephant Money

The elephant coin is the native token of the ecosystem, based on the Binance Smart Chain, currently trading at $0.0000003916, which represents a 5300% gain from its price just almost a year ago. 

Image taken from coinmarketcap
Image taken from coinmarketcap

Token address: 0xe283d0e3b8c102badf5e8166b73e02d96d92f688

Elephant money has sound tokenomics. To start off, there was a starting supply of 1 quadrillion elephant tokens; 49 percent of which were sent to the graveyard, getting burnt to constrain the supply. 1% is for development and marketing, 25% goes to locked liquidity (Pancake LP), and the rest 25% goes to the community via liquidity drive. The graveyard is essentially a burn address with an auto-balancing burn mechanism that rebalances the ownership of the supply to 50% when needed, preventing holders from getting diluted over time and hence ensuring the sustainability of the reward system. 

Elephant Money

ELEPHANT.MONEY is a future-proof way to compound profits made on BSC. ELEPHANT is our store of value on the Binance Smart Chain. A transaction fee of 10% is charged on all transfers of the ELEPHANT token to create a perpetual community trust. These fees are split evenly between payments to existing holders and locked liquidity.

Elephant money is a reflection coin — simply hold the token and see the amounts in your wallet increasing effortlessly with time! This happens because 10% of every transaction for elephant money goes to existing token holders and locked liquidity, split equally among them. As such, simply hold the tokens in your wallet —without any effort, the number of Elephant coins in your portfolio automatically increases with time, as transactions take place on the blockchain.

In my own experience, within a 24 hour period, the number of Elephant tokens in my portfolio grew from 181,890,053 to 181,904,508 within a 24-hour period. This translated into the addition of 14,455 coins, which is a 0.008% increase in my holdings over the period of a day. Indeed, this is hardly an impressive figure to boast about — however the little daily increments do add up to a sizeable amount with time, and with the growth of the price of Elephant money itself. 

My Trust Wallet
My Trust Wallet, 24 hours later

As such, the ever-increasing number of coins in the wallet generates a passive cashflow, offsetting any price depreciation that may potentially occur with a drop in the price of the Elephant token, and potentially offering even higher returns if the price of the Elephant coin booms, the growth of which is promoted by the inherent design of the Elephant ecosystem, which leads us to our next point. 

Elephant Money Stable (TRUNK)

Elephant Money Stable (TRUNK) is a stablecoin, that is 75% collateralized by BUSD, with the remaining 25% by Elephant money; both of which are securely stored in treasuries. Essentially, this means that 1 TRUNK = 1 BUSD = 1 USD. 

ELEPHANT.MONEY STABLE is a future-proof way to compound profits made across your portfolio. Lock in your gains. Use the Reserve to mint Elephant Money Stable (TRUNK). A low processing fee of just 1% is charged on minting and redemption of TRUNK. TRUNK is partially collateralized at a fixed 75% BUSD and 25% ELEPHANT, for a floating percentage of the supply. Both collateral assets are securely stored in treasuries. The rest of TRUNK supply can redeemed against an ever growing ELEPHANT Treasury and TRUNK/BUSD LP. The 1% minting processing fee is also used to 100% back TRUNK with BUSD in a Pancake LP.

Reward credits are generated on minting and redemption at a rate of 11% and 4% on mint/redemption volume respectively. These credits are distributed to the TRUNK staking pool (10% mint/ 2% redeem), and the performance pool (1% mint/redeem). All pools release funds at 1% a day of their credit balance.

The Elephant Treasury and use cases built around it acts as a large/active market participant. This differentiates it from the passive Elephant Graveyard which also protects the price of ELEPHANT. The Elephant Treasury also receives passive reflection rewards which ensures a collateralization ratio above 1 which is required to fully redeem Elephant at 25% on the dollar along with 75% BUSD, guaranteed.


What sets it apart from the other stablecoins in circulation is its ability to generate and compound generous interest rates! There are two ways to earn with TRUNK: you can either deposit it in the Stampede perpetual bonds that give 205% APR or 672% APY, or you can deposit it in the trunk native staking, where you would get a fluctuating APR.

Trunk? Stampede? Roll? Terminologies Explained 

I used to be rather overwhelmed by the many of the alien terminologies used in the Elephant Money ecosystem, and will attempt to concisely explain them here for better understanding.

  • Elephant Money: The native rewards token of the Elephant Money ecosystem, which can be simply held in a wallet and left to grow as profit is made off from transactions which take place in the Elephant Money ecosystem. 

  • TRUNK: The stablecoin of the Elephant Money ecosystem, 75% collaterized by BUSD and 25% by Elephant Money.


  • Graveyard: A smart contract system that burns Elephant Money, to rebalance ownership of the supply to 50% daily (or else the ever increasing number of tokens held will simply depreciate in value by virtue of inflation).

  • Mint: TRUNK can be minted by providing BUSD, or simply traded for in PancakeSwap, which is my preferred option. 

  • Stake: TRUNK can be staked at a variable APR (averaging 60-70%) — funds can be withdrawn anytime

  • Stampede: A system for yield generation in Elephant Money. Once TRUNK is bonded to a Stampede Perpetual Bond, it is locked away permanently (cannot be redeemed) but generates a high interest rate of 205% APR/ 672% APY. 

  • Herd: The referral system of Elephant Money, wherein both the referrer and referral will equally split a 1% bonus from deposits and rolls.

  • Roll: Compound TRUNKS earned from the Stampede Perpetual Bonds, to further generate more compounding interests. 

  • Claim: Claims TRUNKS earned from the Stampede Perpetual Bonds, to your wallet. 

Of Stampede And Bonds

Stampede is the native bonding system for the Elephant Money ecosystem. Bond holders earn fixed low risk yield in exchange for hardening the Elephant Treasury system. When TRUNK is bonded (burned) the value is split 50/50 between the ELEPHANT Treasury and ELEPHANT/BUSD liquidity pool. Bonding TRUNK ensures the system as a whole is taking profit to payout yield for the long term, in any market condition.

Stampede bonds are tied to your wallet and can be added to at any time. You will always earn 2.05X times your total deposited amount. This is paid out evenly at 0.56% a day of your total amount deposited; that’s 205% APR and 672% APY. Through airdrops, for the first time you can easily onboard someone to crypto and supply them with a stable income.

Finally, as TVL increases in Stampede this raises the APR for TRUNK native staking. This means everyone who is a holder of ELEPHANT or TRUNK should mint bonds. Join Stampede today and help jumpstart Elephant Money!!!

Stampede perpetual bonds offer a generous reward from your locked TRUNK assets, fetching a hefty 205% APR or 672% APY on a stablecoin. However, do bear in mind that these assets are locked away indefinitely; in return you get a theoretical lifetime daily rewards from the compounding interests, or 0.56% of your capital per day. 

The HERD, A Partner Network

Unlike many referral systems that mostly benefit the referrer, the HERD rewards participants on both sides of the fence — the referrer and referral both get a 1% rewards on deposit and rolls, split equally. However there are a few requirements for this reward system.

  • It is currently only available for Stampede.

  • Accounts must have over 100 TRUNK bonded to be eligible for the reward.

  • Both partners must meet account minimums before distribution begins. 

How To Start Earning 672% APY on TRUNK?

First, get some TRUNK in your wallet. 

  • Deposit BUSD into a BSC-compatible wallet of your choice, such as MetaMask or Trust Wallet. Alternatively, you can obtain BUSD by swapping currencies off an exchange eg PancakeSwap. Ensure that you have some BNB (probably around $5) to comfortably accommodate all the gas fees that may be incurred along the way. 

  • Head over to


  • Connect your wallet

  • Under the ‘Reserve’ section, head over to mint, and enable BUSD. A small gas fee applies.

  • Input your desired amount of BUSD, and start minting away. A 1% sales charge applies. 

  • Alternatively, head over to PancakeSwap, connect your wallet, and trade BUSD for TRUNK. In case you do not see the TRUNK token, import it into PancakeSwap with the contract address 0xdd325C38b12903B727D16961e61333f4871A70E0

Having obtained your share of TRUNK, enter into staking or the Stampede perpetual bond.


The TRUNK dividend pool pays out 1% of its value every day to the stakers of TRUNK. This value will vary based on the size of the pool and the value of staked capital, and hence the APR can vary but averages around 60–70%. 

First, enable staking, then select the amount of TRUNK you would like to stake, and click ‘deposit’. To unstake, simply click ‘withdraw’. There are no fees incurred to stake and unstake; only gas fees apply.

Stampede Perpetual Bonds

Enable stampede, authorize the transaction, and proceed to bond the desired amount of TRUNK coins. 

Benefit from the Herd: A Partner Network 

Avail a 0.5% reward on deposit & rolls by setting up a partner. This is completely optional — however having a partner gives you the added advantage of earning team airdrops from each deposit and roll, split equally between yourself and your partner. As such, you will each receive bonus rewards of 0.5% on deposits and 0.5% on rolls. 

To participate in the HERD, simply head over to the section, and click partner, wherein you will be able to input the wallet address of your partner. I would be very grateful if you could add me as a partner, by keying in my wallet address “0x2c585a27078318e3c71Cf1b717a7808EDC7d4486” into the partner section. A small gas fee applies for the transaction, which can be offset by the bonus rewards that ensue.


My Strategy

I keep 25% of my asset holdings in the Elephant ecosystem in the form of the relatively more volatile Elephant money, that has the potential to grow further. Being liquid, Elephant money is a valuable asset that can be swapped into other cryptocurrencies at anytime. I invest the remaining 75% of my holdings into TRUNK, bonded into Stampede perpetual bonds to generate a steady stream of passive cashflow, long-term. I plan to roll (compound) half of my generated interests back into Stampede, and stake the remaining so that they can be mobilized and withdrawn at a later time, when the need calls for it. 

Final Thoughts

I wish I had jumped on the bandwagon earlier — this is a formidable DeFi project with a great potential that is yet to see a mass adoption.

  • BNB or BUSD can be used to buy Elephant money which can be simply held to appreciate in quantity passively; or used to mint TRUNK.

  • The Elephant Money is a reflection token with much room to grow, generating passive cashflow from capital appreciation as the Elephant ecosystem grows further.

  • TRUNK is a stablecoin that can be staked to generate interests at a much higher APY compared to other stablecoins (currently 70% APR), or bonded to Stampede perpetual contracts to generate insane, long-term returns of 205% APR/ 672% APY, at the price of locking the principal asset.

What are your thoughts on this project? Feel free to leave comments below! Stay tuned as I invest further and navigate through the Elephant ecosystem, as I will be posting further updates and reviews on this.

As always this is not financial advice! But simply investment platforms I have invested in and have found worthy of sharing with. Do your own research before investing and never deposit money you cannot afford to lose. Feel free to ask me any questions below.

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