🐘 Elephant Money Protocol: Reflecting on Recent Transformations 🚀
The Elephant Money ecosystem, steered by its founder “BankTeller” (BT), recently underwent a series of significant transformations. In this retrospective blog post, we’ll explore the updates and strategies that have reshaped the future of this dynamic crypto project.
Disclaimer
This blog post is a summary of a recent changes and voice notes from the official Elephant Money Telegram, and does not constitute financial advice. Always conduct your own research before making investment decisions. 🧐📚
🌅 Sunsetting Features: The End of an Era
The Elephant Money protocol recently bid farewell to several key features:
- Redemption Queue: This feature was phased out, with Trunk tokens being returned to participants.
- Stampede: Users saw a transform button to migrate their holdings to Trumpet.
- Farms: Farmers were urged to claim and withdraw funds.
🐘 Trunk Token: A New Chapter
Trunk has become a free-floating token backed by the Treasury, akin to Elephant but with some notable differences:
- Centralized Exchange Listings: Trunk could now be available to list on centralized exchanges, exposing it to broader market forces.
- Tokenomics: Similar to Elephant, Trunk now benefits from regular Treasury buybacks. However, a price drop was anticipated as the market adjusted to these changes.
🤔 Why These Changes?
The sudden shift, especially the end of the Redemption Queue, raised questions about trust. However, BT viewed these changes as necessary for the long-term sustainability and profitability of the project. It was about adapting to ensure the ecosystem’s continuous improvement.
🐋 Addressing Whale Manipulation
Ending the Redemption Queue also tackled the issue of whale manipulation, a critical step in maintaining the ecosystem’s integrity.
🔄 Dumping Liabilities for a Streamlined Future
The changes aimed to streamline Elephant Money’s offerings, focusing on products that support the ecosystem rather than maintaining liabilities.
🚀 Trunk’s Potential: Born to Pump
Trunk, with its smaller supply and combined buyback and burn schedule (via Trumpet), was poised for significant growth. BT’s strategy mirrored the successful buy-back approach used for Elephant, but with the added advantage of exposure to the broader crypto market through centralized exchanges.
📈 My Strategy: An Insider’s Perspective
As an investor in the Elephant Money ecosystem, I personally (NFA) moved my Stampede holdings to Trumpet. Likewise, with Farms, I moved all the Trunk from my positions and rewards over to Trumpet. I was able to do this in advance of the migration so benefitted from getting in at a lower Trumpet price. The potential for Trunk, especially given its deflationary nature and broader market exposure, seemed promising.
🎙️ Voice Notes from BT: Key Takeaways
BT’s recent voice notes emphasized a few critical points:
- Focus on Front Office: BT advised investors to focus on front office strategies, including buying Elephant, using futures, or investing in NFTs.
- BNB Ownership and Price Pressure: The protocol now owns a significant portion of BNB, potentially influencing its price.
- Simplification and Education: The goal was to simplify the product offerings and educate the community (Each One Teach One — EOTO).
📣 Call to Action: Join the Herd with a Partner
Interested in joining the Elephant Money ecosystem? Save on transaction taxes by adding a Partner: Elephant Money Partner Network. In ‘The HERD: A Partner Network’ box, click on the partner tab, and add this address as your partner: 0x9B902285ec0f21591f3b69331072158cF0B5f1C3.
🚀 Conclusion: A New Era for Elephant Money
The Elephant Money protocol has evolved, with significant changes that aimed to streamline its offerings and adapt to the ever-changing crypto landscape. While these changes initially unsettled some investors, the long-term vision of sustainability and growth remains the driving force. As always, do your research and consider the potential of this evolving ecosystem. 🐘💼📈
