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. 18 ELEPHANT to 163,782 WBNB (to profit from reverse swap) Swap 45,000. This enables on-chain access to tokens that are purpose-built for stability in a market known for its volatility. The algorithm controls the coin’s demand and supply, which are dictated by. Trunk stablecoin minimum 30% APR; Stampede bonds are tied to your wallet and can be added to at any time. 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. report. DRIP uses a single token for DRIP, while Elephant money uses 2: Elephant, and Trunk (a stablecoin hybrid). The stablecoin is named TRUNK. Check out our AI powered knowledge base Elephant MoneyELEPHANT. Unlimited NFT's. g. Only problem is that it relies on the issuing party being properly regulated and honoring deposits and withdrawal as they should. Elephant Money Stable (TRUNK) Services. Scam News. An algorithm manages the relationship between these two coins to attempt keeping the stablecoin pegged to the reference. Shockenomics, derived from the words ‘shock’ and ‘economics,’ is when a Supply Shock meets a Demand Shock in regards to the valuation of cryptocurrencies. These stablecoins are often advertised as being supported or backed by a variety of “reserve assets. The stablecoin yield, however, depends on how much of CRO tokens you lock to stake on Crypto. Binance USD (BUSD) Not to be outdone, crypto. Stablecoins aim to maintain their pegged rates using different means. Microsoft has exposed Tarrask, a piece of malware from a likely China-backed, state-sponsored hacking group that targets Windows machines by. Commodity-collateralized Stablecoins. TRUNK Stablecoin: TRUNK is a stablecoin within the Elephant Money ecosystem. Official Trackers. Fiat-Backed Stablecoins. 6%. Stablecoins are cryptocurrencies without the volatility. 55mil trunk over the next year. USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. 25 billion but is widely distrusted by crypto exchanges and traders. save. Stablecoin usage continues to climb in 2023, with hundreds of thousands of users relying on these US dollar-pegged cryptocurrencies every day. C$20. Stablecoin to nic innego, jak rodzaj kryptowaluty, a konkretniej tokena płatniczego, którego wartość jest trwale powiązana z wartością określonej tradycyjnej waluty fiat (najczęściej dolara amerykańskiego, rzadziej euro) lub innego dobra np. S. Elephant Money - Introducing the TRUNK Stablecoin. Each type of stablecoin is designed to fix the value of the stablecoin to the price of a stable asset, typically the US dollar. BUSD: One of the best stable coin. This means that. Stablecoin is a fixed-price cryptocurrency whose market value is attached to another stable asset. They allow traders to keep their money in the crypto ecosystem while storing them in a stable asset between trades or during volatile periods. news/post/e. Minting proposes a significant value in the growth of cryptocurrencies as a form of money. 2 million in equivalent has been. 14 billion. S. Elephant Money is…The Elephant. All About TRUNK 22024 Elephant Money Stable TRUNK $0. Users can convert their stable-coins into vol-coins or their vol-coins into stable-coins at a rate of $1 worth of vol-coin per stable-coin, perhaps with a 0. Please enjoy my video review on Elephant Money's new 205% APR Stampede Bond and how it uses partially collateralized Stablecoin TRUNK, a complimentary additi. That ratio of collateral to DAI is algorithmically calculated to maintain the stable pegged price of 1 DAI = $1. e. 55mil in 6 years and this doesn't even include all of the claims that user made. 73mil in bonds which will require the system to pay out 3. The trunk (torso) is the central part of the body to which the head and the limbs are attached. Liquidity cost: low. Traditional banking processes may make it difficult to convert a depreciated local currency into a stable international currency. While cryptocurrencies such as bitcoin and ether are appealing for their ability to allow anyone to make payments without the need for a trusted middleman, they often. Elephant Money - Introducing the TRUNK Stablecoin. Bonding TRUNK ensures the system as a whole is taking profit to payout yield for the long term, in any market condition. Lock in your gains. Stablecoins, a brand-new segment of the cryptocurrency market, are the outcome. 5% reward on deposit & rolls by setting up a. S. According to Sun, TronDAO “will deploy $2 billion to fight them. Unlimited NFT's. Palladium Coin is powered by Ethereum, and as the name implies, the value of Palladium Coin is associated with the value of palladium. g. S. 4. Step 5: Redeem with 90M TRUNK – Burn 90M TRUNK – Withdraw 66. Elephant Money Stable Coin price is $0. Trunk or Elephant Money Stable is a partially collateralized stable coin that is backed by the value of $1 USD. Value wildly spikes and falls, discouraging many people from adopting the virtual currency. Circulating Supply. Tether is another stablecoin option which I do not use t the moment. Elephant Money Farms. Tron is a delegated proof-of-stake blockchain that hit an all-time high of $0. Hackers performed this attack a number of times; per Elephant Money's estimations, in total, $11. To control the inflationary tendency of cryptocurrencies, users must be convinced to spend the tokens instead of saving them. Elephant Money Farms. 4. The attackers minted TRUNK stablecoins, raising the price of ELEPHANT tokens. Secondly, Tether's market capitalization recently. Commodity-Backed Stablecoins. Key Highlights. S. Elephant Money Futures Vaults. It is pegged to the U. We provide up-to date binary packages for each of these that you can download from the COIN-OR download page on Bintray. 752 Trunk. As long as the economy of the country’s fiat currency remains stable, so will the value of the stablecoin. TerraUSD has been pegged almost exactly to the dollar since its release, but on May 9 it crashed, and it is now worth just over $0. In Elephant Money’s case, this is just the beginning of the Parabolic move. They aim to offer all the benefits of. These rates are at the low end when it comes to the crypto exchange industry. Elephant Money’s ‘TRUNK’ Token — How To Turn $1 To $26k+ At Odds Of Just 900/1 Elephant Money: How To Win In The Ecosystem For A Potential 100X. Hackers performed this attack a number of times; per Elephant Money's estimations, in total, $11. The Elephant Treasury system executes peg support for TRUNK Stablecoin in two ways. Step 5: Redeem with 90M TRUNK – Burn 90M TRUNK – Withdraw 66. 14 1irstGold 1GOLD $ 58. 14 Digix Gold Token DGX $ 51. Elephant Money, the decentralized finance (DeFi) protocol behind the ELEPHANT token and the TRUNK stablecoin, announced this week that hackers stole $11. Posted by 27 days ago. Back then the whitepaper referred to it as Mastercoin. ELEPHANT. share. ”. Saved searches Use saved searches to filter your results more quicklyElephant Money, the decentralized finance (DeFi) protocol behind the ELEPHANT token and the TRUNK stablecoin, announced this week that hackers stole $11. Price manipulation: Fintech: CC: N/A: Link: Elephant Money, ELEPHANT, TRUCK: 87: 12/04/2022--Anonymous: Ministry of Culture of the Russian. A payment stablecoin must be designed to be widely used for the purposes of exchange, is. 26. Stablecoins are cryptocurrencies pegged to the price of another asset, such as the U. ELEPHANT - CoinMarketCap. Circulating Supply. Unlike cryptocurrencies like Bitcoin, their prices remain steady. How stablecoins get their stability. There is one trunk but many releases that derive from the trunk. Guaranteed redemption for $1 USD. Unlimited NFT's. 206396 0. It is designed to find (local) solutions of mathematical optimization problems of the form. 8M BUSD to H1, 64,450B ELEPHANT to H1 COIN-OR Developer's Guide. 05% bonus on every deposit and compound you can do so by becoming my partne. 1. 760000% in the last 24 hours. ”. Over the weekend gold recovered towards the $2,000 barrier hitting a high of $1,984 and moving back towards its support around $1,950. Tether ( USDT) is a cryptocurrency stablecoin pegged to the U. “Since the token value after the attack is more than the cost, the attacker can get around $4 million profit in one round of the attack,” BlocSec said. The live TRUNK COIN price today is $0 USD with a 24-hour trading volume of $0 USD. S. 5% daily passive income on Elephant Money with their Stampede contract using Trunk TokenReferral Address0x3F9eB5f8D42C117C8a02c40Ce34C19F. If you want to earn 205% APR / 672% APY by investing Trunk in Stampede and get a . TRUNK is over-collateralized by BUSD with deep liquidity. Register Now. It was launched in 2018 through a consortium called Centre that was created by fintech giants Circle and Coinbase. Trunk is your main source. A Monday report from the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of. Please enjoy my video review on Elephant Money's new 205% APR Stampede Bond and how it uses partially collateralized Stablecoin TRUNK, a complimentary additi. Their low transaction costs and traditional asset. Log in or sign up to leave a comment. 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. Go to quickswap to enter the pair in a liquidity pool. S. 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. 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. 5 billion contraction represents a 17. Elephant Money Futures Vaults. The most popular stablecoins today use a centralized model and back new token issues with fiat currency at a one-to-one ratio. Crypto-backed stablecoin are those stablecoin that are backed by cryptocurrencies. 13 Fantom USD FUSD $ 0. The ELEPHANT. ELEPHANT. ELEPHANT token lost almost 90% of its value in no time as its team asks holders not to sell. This means that a stablecoin is only as stable as the underlying currency it represents and the mechanism used to maintain the relationship. However, algorithmic stablecoins, for now, feature as opportunities. Trunk stablecoin minimum 30% APR; Stampede bonds are tied to your wallet and can be added to at any time. USD Coin, which is also tied to the U. Elephant. Great thing is you stake trunk backed by BUSD $1 so the value is fairly stable. . io to mitigate smart contract risk. GO Hold a superior store of value in ELEPHANT or mint UNLIMITED NFTs for life-changing perpetual rewards. It might as well define the next era of monetary ecosystems, which will probably be decentralized. This “peg” ensures a stablecoin stably expresses the value of its associated external asset, which in the vast majority of cases is a major fiat currency issued by a central bank. There are dozens of stablecoins in use, with a combined market value that topped $100 billion in May, and more are coming. Lastly, the third one. TRUNK para calculadora USD, e muito mais em Coinpaprika. Trunk’s reserves are backed by 75% by BUSD and 25% by elephant token. In some cases, these rates can be similar to or even lower than those on fiat exchanges. 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 stable value of these commodity-backed stablecoins is pegged to the equivalent dollar value of the underlying commodities. Although many fiat-backed stablecoins are pegged to a single fiat currency, it doesn’t necessarily have to be so. Alternatively, a stablecoin may have a face amount denominated in a specified measure of a tangible commodity (e. The declining market caps of these stablecoins confirm this. 75% in the last 24 hours. 1942 Tombac nickel - King George III. Stablecoins are not risk-free. 15 June 2023. MONEY Is Now Listed on Bogged Finance and Coinbase WalletElephant Money, the decentralized finance (DeFi) protocol behind the ELEPHANT token and the TRUNK stablecoin, announced this week that hackers stole $11. ELEPHANT - CoinMarketCap. 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. 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. ELEPHANT is used to generate yield for TRUNK and support the peg. Promising faster transactions and lower costs, stablecoins are an alternative to traditional banking solutions. For example, if functioning correctly a stablecoin pegged to the U. scalciaregt • 2 yr. Once Trunk gets back to Peg, this will effectively quadruple the value of deposited Trunk in the Farm. It is designed to find (local) solutions of mathematical optimization problems of the form. 18 ELEPHANT to 163,782 WBNB (to profit from reverse swap) Swap 45,000. Decentralised finance, or DeFi for short, is a system in which customers can access financial products directly on a decentralised blockchain network, without the need for middlemen such as banks and… Elephant Money is a unique financial ecosystem that aims to implement a voluntary, sustainable, and permissionless global economic engine. bsc. The attacker first used WBNB to buy a large amount of ELEPHANT, and then used BUSD to mint the TRUNK stablecoin. 5 million holders. $79. The total stablecoins market cap shrank by $29. dollar and cryptocurrencies. — Jeremy Allaire (@jerallaire) December 2, 2020One of the most well-known stable coins is Binance, and it is tied to a ratio of 1:1. S. Credit: sdx15 / stock. Also, the reward token of DOGS will likely fall in value once stakers reach their 90 day reduction in taxes down from 90% to the minimum 6%, allowing the speculators to sell DOGS with less tax. ELEPHANT fiyatının yükselmesine ve saldırganlar için döngü başına 4 milyon dolarlık bir kâra neden oldu. 4 billion on January 31, 2023. Stable coins backed by cryptocurrencies are supported by a cryptocurrency. Trunk and Release. Stablecoins bridge the worlds of cryptocurrency and everyday fiat currency because their prices are pegged to a reserve. The attackers minted TRUNK stablecoins, raising the price of ELEPHANT tokens. In a number of operations, the attacker minted TRUNK stablecoin and redeemed it to get more WBNB and BUSD. One of the most prominent examples of a stablecoin is Tether (USDT). S. Fiat-backed stablecoins are the cryptocurrencies most closely related to fiat (or traditional) currencies because they are backed by real-world currencies. 00% in the past 7 days. The way each stablecoin is backed works a little differently depending on what reserve asset they’re tied to. Press J to jump to the feed. TRUMPET. 526% APR, you also get the hidden benefit of Trunk getting back to peg, quadrupling the value of the associated Trunk. Stablecoins offer a way to bridge the gap between fiat currencies like the U. S. Redemption Queue. TRUMPET. com. 207213, and now sits at $0. An algorithmic stablecoin is a cryptocurrency governed by algorithms (i. For example, if functioning correctly a stablecoin pegged to the U. We make custom products you're super proud to. 52B, after an increase of 0. It is another popular fiat-backed stablecoin and is used on many exchanges. 04 mStable USD MUSD $. A stablecoin is a cryptocurrency that is designed to make transacting with crypto more practical. In the case of USDC, it is designed to be pegged to the US dollar and redeemable 1:1 for US dollars. They eventually traded in ELEPHANT and TRUNK tokens for Binance Coin and Binance’s US Dollar stablecoin BUSD. Check answer Show a letter Show answer. Stampede bonding trunk you get 205% and daily compo. Some of the most popular stablecoins on the market are. Log In Sign Up. 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. This means that you get rewarded with passive dividends through this ecosystem! TRUNK High Yield Savings. The TrueCoin project offers an alternative to Tether, a USD-backed stable coin that has grown to over $1. S. Lock in your gains. Tether Holdings Ltd. Written by Crypto And DeFi. S. In this article I will cover how you can achieve a 350%+ return arbitraging a stablecoin. 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. A stablecoin is cryptocurrency with a twist. By Ehis Ohiwerei. at the end of year 5, you will have 1. 01 JPY Coin v1 JPYC $ 0. , was backed 1:1 by cashlike holdings — but then it disclosed in July that 40 percent of its holdings were actually in U. The second is the Elephant token for price appreciation, which is 1,908% in 1 year. Suzxy •. The second is the Elephant token for price appreciation, which is 1,908% in 1 year. Stablecoins aim to maintain their pegged rates using different means. Unlike a centralized stablecoin which is backed with an equivalent amount in fiat or real world assets,. Firstly, Tether has very little actual cash backing USDT since most of the assets backing the stablecoin are various forms of debt and other digital assets. Understanding DAO's is a must before you invest a single penny with these High Risk/ High Reward platforms. 50. These stablecoins are backed by physical assets like precious metals (gold, silver), oil, and real estate. 2 million worth of Binance Coin. “Since the token value after the attack is more than the cost, the attacker can get around $4 million profit in one round of the attack,” BlocSec said. Stablecoins that use collateralization should hold a matching amount of a specified asset in their reserves. TRUNK - Nomics. Which is easy for people to understand. A guide to stable crypto money. 0 coins. Less than two years into its existence, BUSD is already the world's third-largest stablecoin by market cap, behind USDT and USDC. S. Money is happy to confirm that we have officially partnered with InsurAce. TRUNK deposits can be redeemed anytime. You can see that with stampede, someone grew their account of 10k to 3. Because they are price-stable digital assets that behave somewhat like fiat but maintain the mobility and utility of cryptocurrency, stablecoins are a novel solution to crypto volatility: price stability is built directly into the assets. Decentralized stablecoins use algorithms and smart contracts to control the supply of the token to maintain its stable value. The collapse of the TerraUSD stablecoin has significantly affected the crypto sector and broader financial markets. Trunk Coin describes itself as a PoS / Masternode cryptocurrency and a one-stop solution for cryptocurrency wallets. ELEPHANT is used to generate yield for TRUNK and support the peg. Stablecoins are crypto assets pegged to the value of another commodity or assets such as fiat currencies. Decentralized USD (USDD) is an algorithmic. Often, those assets underwrite an issuer’s commitment to redeem its stablecoins for a fixed value upon demand. 2 million worth of Binance Coin. dollar. Elephant Money Stable (TRUNK) Services. S. , smart contracts) to dynamically reduce the price volatility of a specific asset, such as the U. ELEPHANT - Nomics. The smart contracts contain the rules and algorithms that govern the coin’s supply in response to demand. Any other chart, with any other token would be deemed a memecoin, with watchers standing on the sidelines waiting for the FOMO to stop, and the gut-churning Drop to start. 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. Gold and silver are the most popular commodities kept as the underlying collateral. The company said it was facing an “automated attack” against its treasury and in a Medium post, their founder said they are working with their partners. Coins Of Canada, Victoria, British Columbia. 8M BUSD to H1, 64,450B. Stablecoins, or digital assets that hold largely consistent values, unlock extensive utility in decentralized finance (DeFi) and the wider blockchain ecosystem. . Money (TRUNK token). 206396. This document is a guide to using Ipopt. It resulted in the spike of the ELEPHANT price and a $4 million profit for attackers per cycle. Stablecoins can be categorized on the bases of their working mechanisms: 1. It has faced controversies in the past. It typically tracks popular national currencies such as the US Dollar, Euro, and the British Pound. Description. 3Undoubtedly, it is the biggest and most renowned stablecoin known by almost everyone who has a little overview of the crypto world. 2. Tether is investing $500 million to enter bitcoin mining, Bloomberg reported. Since crypto is a volatile market and stability is a far-fetched dream, these crypto-backed stablecoin are often over-collateralized to compensate for the volatility in the value of the underlying cryptocurrency. By far the most common denomination of stablecoin is the US Dollar. Trunk Staking & Stampede Bond. S. 727 likes · 4 talking about this. 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 . It is designed to keep its price stable at $1, supported by a combination of trading incentives and. Fiat-Backed Stablecoins. USDT can be used to purchase products. 206396. Stablecoins, as the name suggests, are digital assets whose value is designed to remain stable amid the ups and downs of the crypto market. Elephant Money Farms. . It operates on top of a collection of blue chip assets, a core rewards token called ELEPHANT, and a stable coin known as TRUNK . ELEPHANT. Token Mechanics - Mint & Redeem. Lists. A stablecoin is a cryptocurrency asset designed to maintain a fixed value over time. dollar-pegged stable coin project dubbed Stronghold. bsc. 🔔Cassida Coin Counter, Sorter, Wrapper Ultimate Solution for Effortless Coin Management🔔. The cryptocurrencies like Bitcoin and Etherium can be used as collateral instead of FIAT currency to create stablecoins. Tron will launch its decentralized algorithmic stablecoin called USDD (Decentralized USD) on May 5, 2022. Digital currency company Circle says it’s changing the makeup of its dollar-pegged stablecoin’s reserves to just cash and U. ELEPHANT Token Supply Management System (Growth) Elephant Money Futures Vaults. In addition, it also guarantees a stable value of UST as the value of TerraUSD is determined by the demand and supply of LUNA. It has a $6 billion market cap and 88 million user accounts, with 21 million active users within. Its purpose is to serve as a stable coin, meaning it is pegged to the US Dollar at a 1:1 ratio. The project aims to offer services to those who need wallets to keep their cryptocurrencies safe. Most important of all, Binance USD is the preferred choice of stablecoin for people interested in using Binance exchange for transactions of crypto assets. Rita Liao 8 months Circle Ventures, the venture arm of the USDC issuer Circle, has invested in an. Bilgisayar korsanları bu saldırıyı birkaç kez gerçekleştirdi; Elephant Money. . Basecoin, also known as Basis, was a cryptocurrency whose protocol was designed to keep its price stable. Stablecoins attempt to solve a challenging problem in the cryptocurrency market: volatility. Subscribe to my Youtube channelmy Newsletterour Private Discord Serveroverall market value of these fiat-pegged tokens expanded from $123. dollar or the Euro. ago. 05X times your total deposited amount. 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. Stablecoins are digital currencies designed to maintain a direct one-to-one peg to a more stable underlying asset, like a national currency. A stablecoin is a digital currency that is linked to an underlying asset such as a national currency or a precious metal such as gold. Stablecoins in cryptocurrency seem to hold the key to bridge the gap between the benefits of cryptocurrencies and the somewhat more stable nature that fiat currencies offer. 1. 100% Upvoted. Photo: Pixabay. 11 (€0. They share a lot of the same powers as ETH but their value is steady, more like a traditional currency. Money is happy to confirm that we have officially partnered with InsurAce. Today it reached a high of $0. Nevertheless, it remains one of the most popular stable coins available, with a large market cap and high trading. TRUNK's market cap is $7. With trunk, you are able to compound your earnings when you stake your trunk. In contrast to fiat currency, and CBDC’s, trust in a stablecoin system shifts to the administrator (s. Traded on: Binance, CoinSpot, BitFinex, Kraken. 55mil trunk over the next year. dollar, and is then directly convertible to fiat currency by the issuer of the stablecoin. Stablecoins, as the name suggests. Close. Price Stability Formula. 56% daily. TRUNK - Nomics. Like many. 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.