0 TRUNK to 44,156 BUSD . Tether Holdings Ltd. UST (Stablecoin)Stablecoins are a type of digital currency that is supposed to be pegged one-to-one with a fiat currency such as the U. Tron founder Justin Sun announced the development in an open letter. . Obtenha o preço mais recente e histórico Elephant Money Stable, TRUNK market cap, pares de negociação, e bolsas. This article splits the stable coin into 2, making 3 categories, namely unstable, stable, and pegged coins. For example, if functioning correctly a stablecoin pegged to the U. Stampede Perpetual Bonds. 73mil in bonds which will require the system to pay out 3. Log in or sign up to leave a comment. Lock in your gains. Some algorithmic stablecoins have depegged in the past. In addition, it also guarantees a stable value of UST as the value of TerraUSD is determined by the demand and supply of LUNA. Interestingly, the asset’s availability on the Ethereum. The ELEPHANT. Treasurys. Except for the brain, the trunk houses all the vital organs of the human body. If you choose to “Roll” your daily rewards back into your deposit amount (another way of saying compounding your interests), you’ll have a much higher return than the initial APR. Elephant Money Stable (TRUNK) is a cryptocurrency, deployed on Binance Smart Chain(BSC BEP-20)Join us on social networks. USDT, or Tether Limited, was conceived of in January 2012. Lastly, the third one. Pegging to fiat can be done by the value of the collateralized crypto asset. Partially collateralized stable coin that captures value by being backed by a reserve of assets. save. By Ehis Ohiwerei. Coin Price 24h Volume Exchanges Market Capitalization 30d Last. S. . The trunk (torso) is the central part of the body to which the head and the limbs are attached. S. 3. 2:25. While many of these projects use fiat to create their peg, the systems creating that peg can be different. Each fiat-backed stablecoin is tied to. The attacker first used WBNB to buy a large amount of ELEPHANT, and then used BUSD to mint the TRUNK stablecoin. This doesn’t work for all stablecoins, especially those tied to the US dollar. MONEYStablecoin is a cryptocurrency that is designed to minimize volatility by pegging to a more stable asset. dollar that doesn’t change much in value. 2 million in equivalent has been permanently lost. The top 5 stablecoins in 2023 may vary depending on market conditions, but some of the most popular ones currently include Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI), and TrueUSD (TUSD). dollar-pegged stable coin project dubbed Stronghold. It was created in partnership between the largest and most trusted companies in the crypto space, Binance Exchange, and Paxos Trust Company. So, a stablecoin could hold $100 million in reserve and issue 100 million coins with a fixed value of $1 per coin. They are a vital part of the crypto economy. Price Stability Formula. If you wish to start trading with equation, please use the link below. Crypto-backed stablecoin are those stablecoin that are backed by cryptocurrencies. ELEPHANT. However, you should note that neither of these coins is backed by the United States government like the dollar. An algorithm manages the relationship between these two coins to attempt keeping the stablecoin pegged to the reference. Stablecoins can be backed by cash, cash equivalents, commodity. The coin’s value only fluctuates based on the price of the physical metal that backs it; buying low and selling high will yield a profit. BSC News - Elephant Money - Introducing the TRUNK Stablecoin. Money Network’s native bonding system that allows players to deposit their TRUNK and earn a 205% APR (672% APY) from a partially collateralized stable coin. 227. ELEPHANT. What is Bertha & Why Is It So Important To The Elephant Money Ecosystem? What Is The Graveyard?This ELEPHANT is sold for TRUNK and that TRUNK is deposited into the Dividend Pool. C$440. Key Highlights. The smart contracts contain the rules and algorithms that govern the coin’s supply in response to demand. The Stablecoins market cap is currently $ 126. 6%. Investors didn't want LUNA or UST. Trumpet Features. Definition. Differing from normal cryptocurrencies, stablecoin can be pegged to assets such as certain fiat currencies that can be traded on exchanges, including the U. There are four basic types of stablecoins: 1. Use our one-click cross-chain swap widget to swap between BTC, USDT, ETH and other crypto assets with low fees and low slippage. My second largest holding is in Elephant Money, and the 3 different internal projects of the BTC-like speculative Elephant Money, The Trunk Stablecoin staking, and the DRIPlike Stampede paying 0. Trunk. Treasury bills, which are. It is another popular fiat-backed stablecoin and is used on many exchanges. , as well as a tutorial on how to solve a nonlinear optimization problem with Ipopt. 12 July 2023, 18:55 GMT+0000. Indeed many seasoned Crypto YouTubers don't understand that there is a humungous difference between APY% and APR%. dollar, whereby 1 USDD is always supposed to be equivalent to $1. 2 million in equivalent has been. These stablecoins are often advertised as being supported or backed by a variety of “reserve assets. 26. Name. Our easy to use TRUNK / USD Converter will calculate any amount you wish at the real-time exchange rates. 1. While the information is valuable, it may be hard to digest for those. Notwithstanding their name, however, stablecoins can be very unstable: between May 1 and May 16, 2022, there was a run on stablecoins, with their circulation decreasing by 15. The issuer builds their coin on a blockchain platform that supports smart contracts. 00 Diamond Platform Token DPT $ 0. Get real-time crypto data now!Get the latest and historical Elephant Money Stable price, TRUNK market cap, trading pairs, and exchanges. 2 million worth of Binance Coin. Vladislav Sopov ELEPHANT token lost almost 90% of its value in no time as its team asks holders not to sell Contents "Traditional price manipulation attack" results in $11. Stampede bonding trunk you get 205% and daily compo. The token is tied to the USD on a 1:1 ratio,. Stablecoins have their limitations, depending on the. USD Coin (USDC) As the name suggests, USD Coin ties to the value of the US dollar. It resulted in the spike of the ELEPHANT price and a $4 million profit for attackers per cycle. Their low transaction costs and traditional asset. arrangements consisting of two coins or tokens: the stablecoin, in this case UST, meant to maintain a stable value or “peg,” and a balancer token, in this case, LUNA, the value of which can fluctuate. All of these types of stablecoins are available on exchanges like Kraken. The price of TRUNK COIN has risen by 100. 58% on a DRIP/BUSD stake sounds pretty good…until you realize that the stake value is draining because of the falling value of Drip. Tether. TRUNK is the best collateralized stable coin yet (75% BUSD, 25% Elephant Token) which solves the issues found in failed algorithmic stable coins $BDO, and $TITAN because they were pegged. ”. A guide to stable crypto money. As of November 9, 2021, USDT is ranked as the sixth-biggest cryptocurrency according to market capitalization, with a worth of $73,331,418,457. S. Below is a list of the top five stablecoins we have identified that each have their own unique characteristics and all are supported by Trust Wallet. Elephant Money Farms. dollar) or a commodity like gold. The stablecoin in question is called TRUNK which is part of the elephant money ecosystem. We terminated the performance fund from 1% APR on the TRUNK Treasury to zero. Stablecoins are cryptocurrencies pegged to the price of another asset, such as the U. S. 75% in the last 24 hours. According to some reports, Elephant Money, a decentralized “yield farming” protocol on BNB Chain with native token ELEPHANT and stablecoin TRUNK, has suffered from an attack on its reserve. T erraUSD (UST) is a stablecoin built on the Terra blockchain and was designed to always retain its value of $1, or sometimes known as. Trunk stablecoin minimum 30% APR; Stampede bonds are tied to your wallet and can be added to at any time. The “international. Reason: Removes TRUNK from circulation. A stablecoin is essentially a cryptocurrency that seeks to peg itself to a stable currency, typically the U. Trunk is a stable coin 1 Busd to 1 trunk ratio . TRUNK is backed by 75% BUSD, and 25% ELEPHANT. Elephant Money Stable (TRUNK) Services. MONEY STABLE is a future-proof way to compound profits made across your portfolio. TronDAO said in a tweet that it added $650 million of USDC to its reserve. Coinpaprika. You can see that with stampede, someone grew their account of 10k to 3. 14 Digix Gold Token DGX $ 51. Choose a Stable Asset: Choosing a stable asset is a critical step in creating a stablecoin because the value of the stablecoin is closely tied to the value of the underlying asset. A pioneer among them, tether (USDT)—founded in 2014, a coin pegged to the value of the U. Regarding fiat-backed assets, USDC. To maintain a stable value relative to fiat currency, many stablecoins offer a promise or expectation that the coin can be redeemed at par upon request. The issuer builds their coin on a blockchain platform that supports smart contracts. 5. 3. Stablecoins are backed by reserve assets such as the U. 23% of stablecoins — were. TRUNK also benefits holders of ELEPHANT, as 100% of the BUSD used to mint TRUNK is sent to the BUSD treasury which is used to buy back ELEPHANT, meaning that the underlying collateral supporting TRUNK hardens over time as the Elephant. MONEY STABLE is a future-proof way to compound profits made across your portfolio. MONEY implements an open global economic engine for. Trunk is the elephant money’s stable coin. We update our TRO to USD price in real-time. USD Digital (USDD) officially made its debut on May 5, 2022, as a stablecoin on Tron, BNB Chain, and Ethereum blockchains. These digital coins […] KuCoin and Circle back Chinese yuan-pegged stablecoin in $10M round. Step 4: Swap 34,244,200,239,512. ELEPHANT is used to generate yield for TRUNK and support the peg. Though this coin exists on the Ethereum blockchain, it is backed by Bitcoin. USDC can be sent and received instantly through Circle or on. Unlike. 5 billion in Bitcoin trying to stabilize. io to mitigate smart contract risk. Today it reached a high of $0. Summary: USD Coin (USDC), created by Circle Internet Financial, LLC (NMLS ID# 1201441), is the most secure and reputable stablecoin in the digital asset arena. S. 1 comment. Scam News. TRUMPET. Stable Coin. The Complete Guide (Updated 2020) Stablecoins offer many benefits that other cryptocurrencies provide, with one essential difference – they are stable, hence the name. Key Highlights. 9% inflation rate from 1960 to 2021. Trunk stablecoin minimum 30% APR; Stampede bonds are tied to your wallet and can be added to at any time. The ELEPHANT. dollar. This comprehensive system provides users with opportunities for yield generation and price appreciation in any market cycle. I like to take some more risk and higher yields. USD Coin, Tether, Binance USD, Gemini Dollar, DAI, among many others). The system keeps track of the total quantity of stable-coins in circulation. dollar. With trunk, you are able to compound your earnings when you stake your trunk. Relative to fiat currency, stablecoins come with a handful of benefits: Accessibility: Stablecoins are globally accessible to anyone with an internet connection and are functional 24/7. USD Coin, which is also tied to the U. That structure raises familiar risks. Creating a system where users can trade. The stable value of these commodity-backed stablecoins is pegged to the equivalent dollar value of the underlying commodities. Stablecoins, as the name suggests. Since their all-time supply highs in November 2022 until Feb. Start raising the memory clock little by little at +50 MHz intervals. S. Centralized Coins Backed by Fiat Currency. The BlockSec ThunderForecast system detected an attack on Elephant Money. S. C. report. Partially collateralized stable coin that captures value by being backed by a reserve of assets. Victoria, BC. It is designed to keep its price stable at $1, supported by a combination of trading incentives and. Elephant Money Futures Vaults. We would like to show you a description here but the site won’t allow us. Stampede Perpetual Bonds. Scam News. scalciaregt • 2 yr. A payment stablecoin must be designed to be widely used for the purposes of exchange, is. The main types of stablecoins include fiat-backed. The declining market caps of these stablecoins confirm this. Trunk or Elephant Money Stable is a partially collateralized stable coin that is backed by the value of $1 USD. This enables on-chain access to tokens that are purpose-built for stability in a market known for its volatility. Elephant’s Stampede has a 205% return limit that effectively becomes infinite as long as you keep compounding. TRUNK COIN. The main types of stablecoins include fiat-backed. Stablecoins can be backed by cash, cash equivalents, commodity. It will help the channel grow and proceeds will be given back to our community. Elephant Money - Introducing the TRUNK Stablecoin. This means that a single unit of a stablecoin is worth exactly one dollar at all times. Go to beefy to auto compound this stable coin pair. USD coin ( USDC) is a fiat-backed stablecoin launched by the Centre Consortium. There are three types of stablecoins: fiat-backed, crypto-backed, and algorithmic. Stablecoins bridge the worlds of cryptocurrency and everyday fiat currency because their prices are pegged to a reserve. TUSD – TrueUSD is a newer fiat-collateralized stablecoin, that attempts to address the criticism directed at Tether. Its purpose is to serve as a stable coin, meaning it is pegged to the US Dollar at a 1:1 ratio. . TL;DR. 9. Step 5: Redeem with 90M TRUNK – Burn 90M TRUNK – Withdraw 66. ELEPHANT - Live Coin Watch. In fact, the Wrapped Bitcoin project currently holds over 280,000 BTC as a reserve for WBTC, with Ethereum being used as collateral. Examples on the Binance Smart Chain are: BUSD; USDC; USDT; TRUNK. Log In Sign Up. 08 USD Bancor USDB $ 0. In a market where the price of the assets one holds is swinging violently, the option to ‘store’ funds’ value in a way that excludes volatility is quite essential. COIN-OR Developer's Guide. 8M BUSD to H1, 64,450B ELEPHANT to H1 ELEPHANT token lost almost 90% of its value in no time as its team asks holders not to sell. Photo: Pixabay. 18 billion at the time of writing. Credit: sdx15 / stock. com. With increasing regulatory pressure towards fiat-backed stablecoins, the potential development of a wholesale CBDC in the U. High Yield with Zero Fees / Taxes. This mechanism is of course subject to the limits described in (2). 58 billion and their market. Check out our AI powered knowledge base Elephant MoneyELEPHANT. 55mil trunk over the next year. Liquidity Management (Stability) ELEPHANT Token Supply Management System (Growth) Token Holder Distribution. 8 billion — or 7. LUNA dropped by as much as 60% in just a matter of days. S. Sector. S. . For example, in the U. It includes instructions on how to obtain and compile Ipopt, a description of the interface, user options, etc. How The System Supports The Peg. It. To control the inflationary tendency of cryptocurrencies, users must be convinced to spend the tokens instead of saving them. Licensed by the New York State Department of Financial Services, the stablecoin boasts a transparent 1:1 backing by U. S. Close. The actual token price may sway a little bit in reaction to changing market conditions, and the actions that keep it. A guide to fiat-pegged cryptocurrencies. ELEPHANT is used to generate yield for TRUNK and support the peg. S. 56% daily. It is a fiat-collateralized stablecoin on the Ethereum blockchain as an ERC-20 token. and Europe, as well as a consumer flight to safety in the crypto. High Yield with Zero Fees / Taxes. Some of the most popular stablecoins on the market are. S. . 4. 1. This decoupling compromised the algorithm and sent both cryptocurrencies into a nose-dive. Traditional banking processes may make it difficult to convert a depreciated local currency into a stable international currency. Stablecoins that use collateralization should hold a matching amount of a specified asset in their reserves. The $29. A stablecoin is a cryptocurrency whose value is pegged to the price of another asset, hence the term “stable. , as well as a tutorial on how to solve a nonlinear optimization problem with Ipopt. The torso muscles attach to the. 66 billion to the present $129. S. A Monday report from the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of. Its sister coin Luna was worth more than $80 (€76. In a number of operations, the attacker minted TRUNK stablecoin and redeemed it to get more WBNB and BUSD. Bonding TRUNK ensures the system as a whole is taking profit to payout yield for the long term, in any market condition. It is designed to find (local) solutions of mathematical optimization problems of the form. In the past few months, I have written several articles about updates and improvements made to the Elephant Money platform. While the IT titan isn’t new to the world of crypto, stable. In the case of USDC, it is designed to be pegged to the US dollar and redeemable 1:1 for US dollars. Each type of stablecoin is designed to fix the value of the stablecoin to the price of a stable asset, typically the US dollar. TRUNK - Nomics. Stampede Perpetual Bonds. TerraClassicUSD is up 0. g. The DeFi projects token on the Binance Smart Chain dropped suddenly and hard leaving those in the platform no time to take correcti. It might as well define the next era of monetary ecosystems, which will probably be decentralized. money trunk stable coin on BSC. DRIP uses a single token for DRIP, while Elephant money uses 2: Elephant, and Trunk (a stablecoin hybrid). Elephant Money Farms. According to some reports, Elephant Money, a decentralized “yield farming” protocol on BNB Chain with native token ELEPHANT and stablecoin TRUNK, has suffered from an attack on its reserve. 55mil in 6 years and this doesn't even include all of the claims that user made. The most promising entry in a list of stablecoins, Palladium Coin, is an example of a commodity-backed stablecoin. Elephant Money is…The Elephant. Allaire’s company is the issuer of the USD Coin (USDC) stablecoin, the second largest after Tether. Because they are pegged to a real-world asset, they represent real money. Coins Of Canada, Victoria, British Columbia. Peg Support Strategy. at the end of year 5, you will have 1. Coin, or U. Action 1 (Redemption Process): Redeem TRUNK when it is below peg, receive BUSD & ELEPHANT @ the redemption price. By Selena 04/13/22 10:42 PM. Bitcoin’s value is volatile in comparison. Stablecoins are meant to provide a predictable haven within the volatile world of cryptocurrency, but they haven't always been as stable as the name promises. The fact that stablecoins are pegged to an external reference, often a fiat currency, keeps their market value stable. These compensate for the volatility of conventional cryptocurrencies as disregard the use of a 1:1 ratio for the crypto lateral. Elephant Money's TRUNK stable coin is battle tested through bull / bear market conditions and malicious side door exploits. A stablecoin is a particular type of cryptocurrency that is “pegged” to a more stable reserve asset. Back then the whitepaper referred to it as Mastercoin. The crypto ecosystem is ever-evolving. So far, the main use case for algorithmic stablecoins has been speculative trading. Lock in your gains. . 73mil in bonds which will require the system to pay out 3. In contrast to fiat currency, and CBDC’s, trust in a stablecoin system shifts to the administrator (s. Please enjoy my video review on Elephant Money's new 205% APR Stampede Bond and how it uses partially collateralized Stablecoin TRUNK, a complimentary addition to the. Stablecoins are designed to maintain a relatively stable price so that users can avoid the volatility risks common in the crypto markets. Stamp bonds are tied to your wallet and can be added to at any time. TRUMPET. Coin Price 24h Volume Exchanges Market Capitalization 30d Last. 55mil in 6 years and this doesn't even include all of the claims that user made. A perceived drawback of cryptocurrency is price volatility. dollar, and is then directly convertible to fiat currency by the issuer of the stablecoin. ELEPHANT - Nomics. Step 4: Swap 34,244,200,239,512. 14 1irstGold 1GOLD $ 58. 752 Trunk. Similar Coins by MCapStablecoin is essentially an attempt to create a cryptocurrency that is stable. Subscribe to my Youtube channelmy Newsletterour Private Discord Serveroverall market value of these fiat-pegged tokens expanded from $123. Commodity-Backed Stablecoins. By implementing this strategy. 2. What are stablecoins? Stablecoins are essentially cryptocurrencies that are. Blame the stablecoins. Elephant money is a true deflationary coin that will see a supply shock, mooning this token. Step 5: Redeem with 90M TRUNK – Burn 90M TRUNK – Withdraw 66. Stablecoins, as the name suggests, are digital assets whose value is designed to remain stable amid the ups and downs of the crypto market. Binance stablecoin withdrawal fees, which usually range from US$0. 29 in January 2018. The coins are collateralized with cryptocurrency assets and the value can be determined from those assets. Less than two years into its existence, BUSD is already the world's third-largest stablecoin by market cap, behind USDT and USDC. a. Jun 1, 2022 10:13AM EDT. Money’s store of value token (BEP-20) on the Binance Smart Chain (BSC) that captures value by having the most fair distribution, an auto-balancing burn mechanism, and by… It operates on top of a collection of blue chip assets, a core rewards token called ELEPHANT, and a stable coin known as TRUNK . Stablecoins offer a way to bridge the gap between fiat currencies like the U. In most cases, a stablecoin fixes its rate on a one-to-one basis. Elephant Money Farms. 80 to $1. Elephant Money Futures Vaults. Hackers performed this attack a number of times; per Elephant Money's estimations, in total, $11. Lastly, the third one. $79. The attacker minted TRUNK stablecoin and redeemed it for more WBNB and BUSD in a range of events. Suzxy •. Elephant Money Futures Vaults. Prior to the exploit, I had over $58k invested in Elephant. 1. S. dollar and cryptocurrencies. . Stable coins are so-called (mostly) pegged to a Dollar. 20 coins Earn up to 26% Kraken Staking US Dollar 4. This means, by purchasing the stablecoin, that the trader is essentially holding gold. Start raising the memory clock little by little at +50 MHz intervals. Now, even though the data suggests that IDR-pegged coins have low volatility in general, we wouldn’t personally use them as stores of value since the rupiah has had a 43. I think this is known as the "Unstable trunk, stable branch" philosophy. Yea, stable coins are better ways to earn passively, without any fear of volatility, most DeFi protocol like Celcius, crypto,com & Blockbank offers different rates, but Blockbank's rate seems to be the best, as you get 10% apy on stables, and the reward comes on a weekly basis. Elephant. Fiat-collateralized stablecoins are centralized in nature as there is a single entity that issues the stablecoin, controls the supply, and which is responsible for backing it with. ELEPHANT is used to generate yield for TRUNK and support the peg. As long as the economy of the country’s fiat currency remains stable, so will the value of the stablecoin. We are working with our partners at Certik /InsurAce to investigate. The smart contracts contain the rules and algorithms that govern the coin’s supply in response to demand. It is collateralized against 75% BUSD and 25% ELEPHANT. Liquidity Management (Stability) ELEPHANT Token Supply Management System (Growth) Token Holder Distribution. But there is one cryptocurrency that is designed to be the exact opposite. Currently 69% APR . The price increased by 100. News and World Reports - Crypto and Russia-Ukraine War: What Investors Should Know. Like many. Close. dollar. Lock in your gains. 0 TRUNK to 44,156 BUSD . S. 8M BUSD to H1, 64,450B. 8 billion — or 7. The coin has seen massive expansion since its launch a few years ago. For the majority of the time since the exploit expenses were covered out of the foundersfrom a user or third-party. You can exchange BUSD to mine TRUNK and then stake it directly on the platform for a 60% to 75% APR. Cryptocurrencies, after all, are synonymous with volatility in a market routinely whipsawed by hype and speculation. Two of the most popular stablecoins are USD Coin (USDC) and Tether (USDT), which are pegged to the U. Stablecoins aim to maintain their pegged rates using different means. We make custom products you're super proud to. Use the Reserve to mint Elephant Money Stable (TRUNK). 01 JPY Coin v1 JPYC $ 0. S.