As you might be aware the Elephant Money protocol and its ecosystem is constantly developing. All introduced changes and new elements are making the protocol more and more robust. Elephant Money now is stronger than ever before!

The Farmers’ Depot is the latest improvement allowing investors to mint TRUNK at a fixed price while at the same time supporting the protocol treasury in the best possible way.

In this article we’ll go over the Farmers’ Depot in particular and the anticipated effects of it.

What is the Farmers’ Depot?

Before going into the detailed description of this particular product, I’m assuming you have some background knowledge about what Elephant Money is and how the basics work. You know about the native Elephant and Trunk tokens and the purpose of both.

Alright, that being said let’s get into the Farmers’ Depot.

On the Elephant Money platform there always has been a feature to mint TRUNK tokens. This original mint feature returned 1 TRUNK per 1 BUSD paid. However, the market price of TRUNK is way lower than 1 BUSD. So when utilizing this functionality one would make an instant loss on his investment.

Of course, it helps strengthen the protocol and people are willing to take a small loss in order to support the ecosystem but if the gap is too big, people find other ways to accumulate TRUNK tokens. Instead of Minting, people bought TRUNK from PancakeSwap. Although this could have had a positive effect on the TRUNK token price, it didn’t. Or put differently, there were better ways to support the ecosystem and the treausry in particular than buying TRUNK off PancakeSwap.

Thats where the mechanisms of the Farmers’ Depot come into play. The Farmers’ Depot allows you to mint TRUNK tokens against the current applicable market price of the token.

AND there is more to it, the price is fixed for your investment! If you buy TRUNK at let’s say 0.30 BUSD, your entire investment is settled against this price. No slippage! Not when buying for 1K BUSD, not for 10K BUSD, not for 100K BUSD, not for 1M BUSD; all fixed at the given price.

Settlement procedure

When the investment is done, the Farmers’ Depot will payout the TRUNK tokens at a rate of 3.33% a day until 100% is settled. So over a period of 30 days all acquired TRUNK tokens will be settled to the investor. This is a measure to prevent Pump and Dump kind of behavior.

The TRUNK tokens will become available over this course of 30 days but those that are available can be claimed manually by the investor. This way these acquired tokens can already be used in the Staking or Farm products while waiting for the full amount of tokens to be settled.

The mechanics behind the Farmers’ Depot

As mentioned above there were some reasons why the Farmers’ Depot was introduced. But there is much more valuable stuff happening behind the scenes as a result of this new product.

No slippage

For investors who plan to put a big amount of money into the Elephant Money ecosystem, specifically TRUNK in this case, the potential impact of slippage can be pretty significant. When buying TRUNK on PancakeSwap, one would swap his investment capital (BUSD) for TRUNK using the PancakeSwap Liquidity pool. As for the charactaristic of the Liquidity Pool concept one would always experience slippage. The bigger the investment amount the bigger the effect of slippage. The Farmers’ Depot takes away this negative element by offering the fixed price.

Support the ecosystem

When buying TRUNK on PancakeSwap all invested capital moves into the Liquidity Pool. As mentioned earlier, this could have been ok to support the TRUNK token price, but it didn’t work out as desired. Moreover, there were better ways to support the ecosystem and eventually the TRUNK token price.

By utilizing the Farmers’ Depot to mint TRUNK, the investment capital moves into the core of the protocol instead of into the Liquidity Pool. More specific, the money is distributed as follows:

• 10% moved to the BUSD Treasury (to payout the redemption queue)
• 10% used for buying TRUNK of PancakeSwap
• 80% moved into the Elephant Treasury Bertha

80% of the total investment goes straight into the Elephant Treasury! Thats huge!

As we know the Elephant Treasury, which is called Bertha, plays a crucial role within the ecosystem. In fact, most (if not all) mechanics are mainly configured to support the growth of Bertha. Not only is Bertha responsible for paying out the TRUNK rewards for Stampede, Staking and the Farms. It will also be responsible to bring TRUNK back to peg (at 1 BUSD) and remain it in the future.

That’s why 80% of the investement going straight into Bertha IS HUGE!

Growing Bertha will bring…FOMO!

If you have been following Elephant Money a bit, you must have seen people talking about Supply Shock for the Elephant Token. Bertha is constantly eating up Elephant tokens. This leads to a growing locked in amount of Elephant tokens. The more of those are locked the more scarce those will become and supply shock eventually will happen.

People will be angry with themselves they didn’t accumulate a big bag of Elephant tokens before this happened. Because once it happens, it will be unstoppable. How can we be so sure about that? Because it happened before.

It’s not just the fact that Bertha grows which will lead to FOMO but if Bertha grows a lot of other things will come into motion as well.

Faster redemption queue settlement

The redemption queue will speed up. With a faster redemption queue settlement, manual arbitraging will become more interesting again. What do you need to get in the queue? Right: TRUNK; how do you get TRUNK? Right: Farmers’ Depot. Which feed Bertha and the redemption queue…

In addition, for those who want to liquidate their TRUNK tokens soon but not instantly, the redemption become a good alternative for selling on PancakeSwap. Not only you’ll get settled at 1 BUSD, but also you will be supporting the ecosystem.

Increased TRUNK price promotes the other products

This doesn’t have to be a direct effect of Bertha become fatter but it eventually will happen as a result of it. Once Bertha became big enough, and on the way towards that state, the TRUNK price will rise agian. Either because of more interest in the ecosystem of because of Bertha moving funds to support TRUNK price.

Once the TRUNK price starts to rise again the APRs for Staking, Stampede and the Elephant Money Farms will be increasing along with it. This is because the APRs are dynamically connected to the TRUNK token price. When those APRs are increasing, the products those are applicable for will become increasingly interesting as well. Leading to growing interest for people to get involved.

What do you need to get into Staking, Stampede of the Farms? Right: TRUNK; how do you get TRUNK? Right: Farmers’ Depot. Which feeds Bertha and the redemption queue…

More implications

Since I wanted to keep the focus for this article primarily on the potential and implications of the Farmers’ Depot I didn’t want to go into some other effects which could be triggered. However, below you’ll find some references to other articles which do cover those.

Benefit of getting into Farms early while TRUNK is low (potential FOMO trigger)

https://cryptozoa.com/farming-elephants-is-that-really-a-thing-f6a6ef744e4a

Effect of Bertha on TRUNK price

https://cryptozoa.com/we-do-nt-care-about-trunk-price-two-biases-one-strategy-db4f83c08d06

Wrapping up

After reading this description and the implications of the Farmers’ Depot I believe there can’t be a reason not to utilize this product when planning to get some TRUNK tokens. The potential effect on the ecosystem and it’s strength is obvious in my opinion.

One last thing, as we all know everything nowadays is about numbers, I’d like to ask everyone who got this far and understands this product to get involved in the Farmers’ Depot. Even if it’s only like 10 BUSD or so. The number of participants speaks to potential investors who are still researching or doubting. Help yourself, by helping the Elephant Money ecosystem.

By the way, did you know…

The Farmers’ Depot also benefits the partners in the partner network, paying out 1% partner rewards on every investment!

Want to become my partner? Check out the steps below.

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