Yes, it is! Thanks you for your attention!

No, I won’t leave it with this of course. But yes, the Elephant Farm exists. And it’s a powerful one as well.

In this article we will go over the Elephant Money Farms (EMF), it’s unique characteristics and how to leverage the product.

EMF USP’s: Lossless, Trustless, No taxes, No fees

The Elephant Money ecosystem offers the Elephant Money Farms now since about 5 weeks. The way the farms work differs quite a bit from the Yield Farming products you might be familiar with. I’m not sure if the mechanics are really unique but if not then at least it’s part of a very small niche.

The Unique Selling Points are the following:

• The farms are Lossless
• The farms are Trustless
• No taxes are charged when interacting with the farm contracts
• No fees are collected from the rewards; all rewards go to the staker

Let’s get over these elements one by one to get a better understanding

Lossless

The farms are lossless because it utilizes Dual Staking instead of Liquidity Pairs (LPs), hence, no Impermanent Loss. Let me explain that.

First you have to understand how the common Yield Farms work. In general in order to get involved in a Farm the investor has to deposit collateral in the form of a Liquidity Pair (LP). This is a combination of two assets, e.g WBNB/BUSD. Initially the pair consists of 50% of both involved tokens. In this case one would need an equal amount of WBNB and BUSD in order to create the WBNB/BUSD LP.

However, since in this case mainly the WBNB token value can fluctuate, this can influence the value of the LP. Since an LP always balances the involved assets in order to remain the 50–50 ratio, when the WBNB value goes down, the LP will sell some BUSD and buy BNB to rebalance the LP.

As an example if WBNB would start at 100 dollar, it needs 100 dollar BUSD to create the LP pair. In case WBNB drops to 90 dollar while the BUSD side remains at 100, there is a gap of 10 dollar which needs to be rebalanced. The LP sells 5 BUSD and buys 5 dollar worth of WBNB to rebalance the LP.

Eventually, if the investor want to step out of the farm and wants to break up the LP, he will end up with a bit more WBNB (which is worth less than his initial amount he put in) and less BUSD.

This is what is called Impermanent Loss.

So how are the Elephant Money Farms different?

These farms are lossless since it utilizes Dual Staking instead of Liquidity farming. In this case there is no Liquidity Pair involved. The initial collateral will remain stable over time, apart from it’s own price fluctuation of course. In other words, the amount you put in, is the amount you can get out.

Several token and coins are available to use in combination with the Elephant Money native token TRUNK. For these farms there is an equal corresponding value required for both involved tokens as well.

For example 50 dollar worth of WBNB requires 50 dollar worth of TRUNK to be able to stake in the farm.

The WBNB in this example is only counted as overall TVL for the ecosystem. The value of the staked amount is the TRUNK amount times two. This value is used to calculate and generate the farming rewards.

Summarizing it all, since the farms make use of the concept of Dual Staking in contrast to liquidity pairs, there is no risk of Impermanent Loss. Moreover, the initial input amount will be equal to the output amount once you withdraw your staked share. There is no risk of loss on your collateral, hence, Lossless.

Trustless

When depositing your collateral it gets directly staked from your own wallet into a dedicated Vault. There is no lock up and no custodial layers whatsoever.

Following the brief description from the litepaper:

Not your keys — Not your crypto! This is why EMF has a trustless vault technology. Only our keys can deposit and withdraw directly to an immutable vault. Funds are stored dedicated asset silos owned and whitelisted only to the vault. There is zero administrative access to funds in the vault. — Elephant Money Farms Litepaper (p4)

As explained in the previous section, the blue chips is only counted as TVL for the total of the ecosystem. Nothing else is happening with the collateral, no background staking, or lending, or trading, or anything like that. Just locking it in.

No Taxes

When depositing or withdrawing the investment from the farms there are no taxes charged.

When you ever got involved in any other Yield Farming protocol you might have experienced taxes being charged on staking and unstaking. Taxes which are mainly collected as fees for the team, the platform, marketing purposes or something like that.

The Elephant Money Farms applies ZERO percent taxes on depositing and withdrawing. Getting involved in the farms aims to have a positive effect on the TRUNK price since it locks TRUNK which takes it out of circulation and therefore prevents it to be sold. Additionally, it realizes buy pressure when someone aims to enter, since the value of the blue chip assets needs to be matched with enough TRUNK.

In short, there are other kind of effects this farm is trying to realize than making the team behind the platform profit from it.

No Fees

100% of the earned rewards are paid out to the stakers, no fees are deducted from the earnings.

Similar to the taxes, there are no fees deducted for the dev team, nor for a marketing budget. No fees deducted at all.

The available farms and how they work

Now that it is clear what makes these farms stand out from traditional Yield Farms, lets take a look which farms are offered and how it actually works.

As mentioned above, all pairs require the TRUNK token as input asset combined with one of the following blue chip tokens or coins.

Staking one of these pairs in the corresponding farm will earn you Yields. The value which is used for calculating your earnings is based on the value of the TRUNK part of the share, times 2.

The percentage yield is dynamically linked to the dollar value of TRUNK with a max of 125% when TRUNK is at peg, which is 1 BUSD. Now that TRUNK is below 1 dollar the percentage yield moves down along with the price.

This mechanic of dynamically adjusting the yield percentage is implemented to steer the investments to the most interesting products within the ecosystem. Most interesting in the sense of most valuable for the health of the protocol.

All farms pay out TRUNK as the earned reward.

Statistics

Below you find the statistics of the Elephant Money Farms taken as a snapshot on 19th of December 2022.

As you can see above, there is a total number of 700+ participants who together locked up a total value of 6.9 Million TRUNK.

Over 2100 TRUNK is already paid out to the investors in total rewards.

Additional material

Since I’m not the only one covering the farms and since there is a lot more material related to the product I decided to list some references. I’d recommend you to check out:

• The Elephant Money Farms Litepaper
• The Elephant Money Farms Tutorial
• The Elephant Money Farms Audit reports
• Article: Elephant Money Farms: The Lossless & Trustless $1 TRUNK FastTrack by SK CryptoK
• Video: Abovementioned article read-along

Wrapping up

It should have become clear that the Elephant Money Farms bring something new and interesting to the table within the field of Yield Farming. The unique concept and utility of Dual Staking allows for high yield generation without risking collateral devaluation as a result of getting involved in the Farms.

Remember: Lossless, Trustless, No taxes and No fees!

Ready to join the herd?

If you plan to join the movement, want to become an Elephant token holder or going to Mint some TRUNK you could consider using my account to become my partner.

We both will earn 0.5% of the amount of

• Each bond of TRUNK into Stampede
• Each roll of the Stampede rewards
• Each buy of Elephant when buying the token on the platform
• Each mint of TRUNK when utilizing the Farmers’ Depot

Don’t wait, become part of the Herd!

Before you start set my referral address in the Partner box, thanks in advance!

• Scroll down on the screen to the “The HERD: A Partner Network” box. Choose the “PARTNER” tab and fill in my (or anyone’s) referral address and click the “UPDATE” button. NOTE: it is possible to change your partner at any time. Referral address: 0x37bB455be901d629aCaDC84BAcE52007067cF269

References

Website: https://elephant.money/

Whitepaper: https://elephant.money/media/elephant-wp.pdf

Telegram: https://t.me/elephant_money

Medium: https://medium.com/@bankteller