Notifications. Money is happy to confirm that we have officially partnered with InsurAce. They can be used as stores of value or units of account, as well as in other use cases where volatile cryptocurrencies may be less. This comprehensive system provides users with opportunities for yield generation and price appreciation in any market cycle. The most popular kind of stablecoins are fiat-backed stablecoins. Forgoing the future transition to a permissionless system while maintaining its key economic properties. Elephant’s Stampede has a 205% return limit that effectively becomes infinite as long as you keep compounding. The most popular stablecoins. 18 ELEPHANT to 163,782 WBNB (to profit from reverse swap) Swap 45,000. TRUNK COIN. 2,848 likes. 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. Stablecoins sometimes lose parity with the asset to which they’re pegged. 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. S. S. ”. Tether is investing $500 million to enter bitcoin mining, Bloomberg reported. In contrast to fiat currency, and CBDC’s, trust in a stablecoin system shifts to the administrator (s. Coins. USDT (Tether) USDC (USD Coin) BUSD (Binance USD) DAI. Coin Analizleri; Altcoin. S. The system keeps track of the total quantity of stable-coins in circulation. In this article I will cover how you can achieve a 350%+ return arbitraging a stablecoin. The dollar is significantly more stable than a cryptocurrency like Bitcoin or Ether. Stablecoins are cryptocurrencies "pegged" to a fiat currency. Enable stampede, authorize the transaction, and proceed to bond the desired amount of TRUNK coins. 26. Saldırgan, bir dizi operasyonda TRUNK stablecoin mint’ledi ve daha fazla WBNB ve BUSD almak için kullandı. A stablecoin is essentially a cryptocurrency that seeks to peg itself to a stable currency, typically the U. This week, one popular so-called algo coin cratered, wiping out billions of dollars’ worth of value in just a few days. They eventually traded in ELEPHANT and TRUNK tokens for Binance Coin and Binance’s US Dollar stablecoin BUSD. TRUNK Rolled. But for most users the APY will hover around 5%. Money Network’s partially collateralized stable coin (BEP-20) on the Binance Smart Chain (BSC) that captures value by being backed by. . TRUNK is over-collateralized by BUSD with deep liquidity. S. Like many. S. USD coin ( USDC) is a fiat-backed stablecoin launched by the Centre Consortium. It is pegged to the U. "," A stablecoin is a cryptocurrency whose value is pegged to the price of another asset, hence the term “stable. 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. You can see it on the Canadian 5-cent coin. 14 1irstGold 1GOLD $ 58. S. Stablecoins are a type of cryptocurrency designed to offer the flexibility of digital assets with the price stability of fiat currency. 5 billion from January 2022, while USD Coin (USDC) and Binance USD (BUSD) gained market share. The total market capitalisation for stablecoins continues to rise and is now estimated to have reached over $180 billion. Microsoft has exposed Tarrask, a piece of malware from a likely China-backed, state-sponsored hacking group that targets Windows machines by. Elephant Money Futures Vaults. Alternatively, a stablecoin may have a face amount denominated in a specified measure of a tangible commodity (e. 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. Coins. Coin Price 24h Volume Exchanges Market Capitalization 30d Last. Stablecoins can be backed by cash, cash equivalents, commodity. ELEPHANT - Live Coin Watch. I've been earning 0. 50. Binance trading fees: maximum of 0. C$440. . The decrease came as the result of a broader market sell-off in all cryptocurrencies. Crypto-backed stablecoin are those stablecoin that are backed by cryptocurrencies. For example, one USD Coin (USDC) is intended to always be worth $1. 1. Elephant Money Stable (TRUNK) Services. Along with TerraUSD, major stablecoins include Tether and USD Coin (USDC. Elephant Money, a stable coin platform that uses the TRUNK token became a victim of the flash loan attack, which manipulated a token price oracle leading to a loss of $22. TRUMPET. Both collateral assets are securely stored in treasuries. This type of cryptocurrency — ostensibly backed one-to-one by a stable asset like the dollar, making it more practical as a means for trades and transactions — is booming, with some $130. Money and InsurAce. Secondly, Tether's market capitalization recently. 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. Token Mechanics - Mint & Redeem. 0 TRUNK to 44,156 BUSD . invested in an owned account. Unlimited NFT's. Moreover, the interconnectedness of stablecoins with the wider financial system continues to deepen. dollar. Elephant Money - Introducing the TRUNK Stablecoin. Stablecoins can be categorized on the bases of their working mechanisms: 1. 10, 2023, a combined $9. Stablecoins are global, and can be sent over the internet. S. Scam News. A pioneer among them, tether (USDT)—founded in 2014, a coin pegged to the value of the U. EARN 205% APR ON TRUNK STABLECOINELEPHANT,MONEY a nutshell, stablecoins are cryptocurrencies that are designed to minimise price volatility relative to a particular “stable” asset or basket of assets. Next - Overview Elephant. Stable Coin. Each Tether token (USDT) is supposed to be “tethered” to one U. The coin has seen massive expansion since its launch a few years ago. ”. 8 billion — or 7. 2130. 58 Karatgold Coin KBC $ 0. 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. For example, in the U. And as the media increasingly covers the subject, many people are left wondering: What is stablecoin? Stablecoins are an attempt to create a cryptocurrency token with a stable price. bsc. Trunk’s reserves are backed by 75% by BUSD and 25% by elephant token. Trunk’s reserves are backed by 75% by BUSD and 25% by elephant token. Cryptocurrencies are usually characterized by wild price swings and extreme volatility. This mechanism is of course subject to the limits described in (2). Stable coins enable us to bridge this gap between the stability of fiat currency versus cryptocurrency. News; Prices;. 23% of stablecoins — were. While many of these projects use fiat to create their peg, the systems creating that peg can be different. Lock in your gains. It has faced controversies in the past. The Elephant Treasury system executes peg support for TRUNK Stablecoin in two ways. They can achieve this predictability by pegging their market value to an external reference point like a fiat currency (for example, Tether has pegged to the U. The collapse of the TerraUSD stablecoin has significantly affected the crypto sector and broader financial markets. 18 ELEPHANT to 163,782 WBNB (to profit from reverse swap) Swap 45,000. That structure raises familiar risks. Elephant Money Futures Vaults. USD Coin is backed by reserves held in financial institutions. Nevertheless, it remains one of the most popular stable coins available, with a large market cap and high trading. Each type of stablecoin is designed to fix the value of the stablecoin to the price of a stable asset, typically the US dollar. 2 min read. Each fiat-backed stablecoin is tied to. MONEY implements a voluntary, sustainable, and permission-less global economic engine on top of a collection of blue chip assets, a core rewards token. Decentralized finance ( DeFi) protocol Curve Finance deployed its highly anticipated native stablecoin called crvUSD on the Ethereum mainnet Wednesday afternoon. 5M and its 24h trading volume is $85K. Bitcoin’s value is volatile in comparison. Dollar -- and thus offer a stable spot for traders to park their money when exiting a trade in BTC, ETH, or other paired cryptocurrencies. Stablecoins are digital currencies designed to maintain a direct one-to-one peg to a more stable underlying asset, like a national currency. Digital currency company Circle says it’s changing the makeup of its dollar-pegged stablecoin’s reserves to just cash and U. It will help the channel grow and proceeds will be given back to our community. 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. GO Hold a superior store of value in ELEPHANT or mint UNLIMITED NFTs for life-changing perpetual rewards. 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. A stablecoin is a cryptocurrency that is designed to make transacting with crypto more practical. Use the Reserve to mint Elephant Money Stable (TRUNK). Elephant Money Stable (TRUNK) Services. where f (x): Rⁿ --> R is the objective function, and g (x): Rⁿ --> Rᵐ are the constraint functions. USDC has recently grown in market share—helped by its. Operating primarily on the BNB Chain, it’s a fresh contender in the market. Traded on: Binance, CoinSpot, BitFinex, Kraken. 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. Stablecoins can be backed by cash, cash equivalents, commodity. For example, in the U. TerraUSD (UST) is an algorithmic stablecoin pegged to the US Dollar running on the Terra ( LUNA ), Ethereum ( ETH ), and other blockchains. report. It resulted in the spike of the ELEPHANT price and a $4 million profit for attackers per cycle. . With policymakers looking to coordinate a policy. However, you should note that neither of these coins is backed by the United States government like the dollar. The $29. The live TerraClassicUSD price today is $0. USD Coin (USDC) is a popular stablecoin that is pegged to the U. Tether is another stablecoin option which I do not use t the moment. 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. You must be familiar with ERC-20 smart contracts and their functionalities. UST is a decentralized, scalable, and yield-burning stablecoin with a $16 billion. "," ",". 05X times your total deposited amount. 5 billion in Bitcoin trying to stabilize. Victoria, BC. The firm previously said USD Coin was backed 1:1. 58 billion and a 24-hour trading volume of 2. This animal lives in Africa. S. $79. | Image: Shutterstock USD Coin. Cosmos-based. The live TRUNK COIN price today is $0 USD with a 24-hour trading volume of $0 USD. The most commonly used and referred to stable coins are those that are pegged to one U. In this article I will cover how you can achieve a 350%+ return arbitraging a stablecoin. Differing from normal cryptocurrencies, stablecoin can be pegged to assets such as certain fiat currencies that can be traded on exchanges, including the U. , one unit of a dollar-pegged stablecoin may be equal to $1. 8 billion — or 7. It is another popular fiat-backed stablecoin and is used on many exchanges. 1%. I think this is known as the "Unstable trunk, stable branch" philosophy. Decentralized USD (USDD) is an algorithmic. QiDao is currently incentivizing the protocol so you’ll get a weekly drop of Qi to sweeten the deal. Elephant Money Farms. Tether (USDT) is the most widely used stablecoin and is pegged to the U. Elephant Money Farms. The company Circle had said its U. ELEPHANT. S. 66 billion to the present $129. #2. This comprehensive system provides users with opportunities for yield. These digital coins […] KuCoin and Circle back Chinese yuan-pegged stablecoin in $10M round. A perceived drawback of cryptocurrency is price volatility. Game Claim 5BTC BitcoinETF Get BTCETF Trunk is the elephant money’s stable coin. S. Algorithmic stablecoins are innovative mechanisms that can elevate decentralized finance. Lastly, the third one. Elephant. The $87 billion stablecoin operator has large coffers that could make it a significant competitor in. It resulted in the spike of the ELEPHANT price and a $4 million profit for attackers per cycle. Trunk is a stable coin 1 Busd to 1 trunk ratio . 2. The declining market caps of these stablecoins confirm this. ELEPHANT is used to generate yield for TRUNK and support the peg. ELEPHANT - CoinMarketCap. The stablecoin philosophy minimizes the roles of both central and commercial banks. In a number of operations, the attacker minted TRUNK stablecoin and redeemed it to get more WBNB and BUSD. Fundamentally, backing the coin with less volatile traditional assets like USD or Gold makes it more stable, thus providing a safer alternative for all the players in the crypto ecosystem. Although many fiat-backed stablecoins are pegged to a single fiat currency, it doesn’t necessarily have to be so. ELEPHANT. 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. You can see that with stampede, someone grew their account of 10k to 3. A stablecoin is a crypto coin that should be worth $1. Token Mechanics - Mint & Redeem. ago. io to mitigate smart contract risk. USD Coin (USDC) USD Coin is a stablecoin backed by Coinbase, the world’s biggest bitcoin broker and largest exchange holder of bitcoin. 2 million: We are pausing the Reserve which will disable Stampede and the minting/redeeming of TRUNK. 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. These stablecoins are backed by physical assets like precious metals (gold, silver), oil, and real estate. . . Most of those with large followings are tied to the U. 10, 2023, a combined $9. We are working with our partners at Certik /InsurAce to investigate. — 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. When redeeming TRUNK (1% Fee), there are 3 actions happening. One of the most common ways to peg a stablecoin is by holding the currency the token wants to peg itself to. USDD is the native stablecoin of the Tron blockchain with a $725 million market capitalization. io to mitigate smart contract risk. Blockchain data on. Money and InsurAce. Bonding TRUNK ensures the system as a whole is taking profit to payout yield for the long term, in any market condition. BSC News - Elephant Money - Introducing the TRUNK Stablecoin. ELEPHANT. ELEPHANT - CoinMarketCap. All of these types of stablecoins are available on exchanges like Kraken. more USD Coin (USDC): Definition, How It Works in Currency, and Value Stablecoin values are pegged to the value of a given currency. TRUMPET. S. S. 5 billion contraction represents a 17. Release is a one-to-many association with trunk. That’s why they are MY best projects ;-)----Follow. [1]There are four main types of stablecoins in circulation: fiat-backed, commodity-backed, crypto-backed and algorithmic. In addition, it also guarantees a stable value of UST as the value of TerraUSD is determined by the demand and supply of LUNA. So, a stablecoin could hold $100 million in reserve and issue 100 million coins with a fixed value of $1 per coin. There are four basic types of stablecoins: 1. Microsoft: These hackers are using a simple trick to hide their Windows malware | ZDNet Liam Tung is a full-time freelance technology journalist who writes for several Australian publications. A stablecoin is a cryptocurrency whose value is pegged to the price of another asset, hence the term “stable. TRUNK has never. 0 TRUNK to 44,156 BUSD . Elephant Money Futures Vaults. The project aims to offer services to those who need wallets to keep their cryptocurrencies safe. For the majority of the time since the exploit expenses were covered out of the foundersElephant Cash, a decentralized “yield farming” mechanism on the BNB Chain that makes use of the native token ELEPHANT andThis document is a guide to using Ipopt. The Reasons, Risks and Types to Know. Indeed many seasoned Crypto YouTubers don't understand that there is a humungous difference between APY% and APR%. These stablecoins are often advertised as being supported or backed by a variety of “reserve assets. Log In Sign Up. Unlimited NFT's. Elephant Money's TRUNK stable coin is battle tested through bull / bear market conditions and malicious side door exploits. While the information is valuable, it may be hard to digest for those. 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. 59%. Gold and silver are the most popular commodities kept as the underlying collateral. , one unit of a dollar-pegged stablecoin may be equal to $1. Trunk a minimum 30% ROI APY with variable rates usually around 70% ROI APY . If you want to earn 205% APR / 672% APY by investing Trunk in Stampede and get a . “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. It was created in partnership between the largest and most trusted companies in the crypto space, Binance Exchange, and Paxos Trust Company. Stablecoins are a type of cryptocurrency whose value is meant to be less volatile than other coins like Bitcoin or Ethereum. There are three main classes of stablecoin: Cash-collateralized stablecoins. The documentation consists of the following pages: Overview. Dollars and short-term U. Investors didn't want LUNA or UST. scalciaregt • 2 yr. where f (x): Rⁿ --> R is the objective function, and g (x): Rⁿ --> Rᵐ are the constraint functions. 2:25. Stablecoins are crypto assets that aim to keep their price “pegged” to the market value of an external asset such as a fiat currency or commodity. U. , one troy ounce of gold) and be collateralized by that commodity or a combination of that commodity and other collateral in an amount equal to the face amount of outstanding coins. 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. 93K Followers. Treasury bills, which are. Stampede bonding trunk you get 205% and daily compo. 69. Bonding TRUNK ensures the system as a whole is taking profit to payout yield for the long term, in any market condition. We terminated the performance fund from 1% APR on the TRUNK Treasury to zero. TRUMPET. Stablecoins, as the name suggests, are digital assets whose value is designed to remain stable amid the ups and downs of the crypto market. Listen. They share a lot of the same powers as ETH but their value is steady, more like a traditional currency. Launched in 2019, this coin is a creation of the colossal centralized crypto exchange, Binance, in partnership with Paxos. Unlike a centralized stablecoin which is backed with an equivalent amount in fiat or real world assets,. kids and a stable income helped, but i think the sets got a lot better from 2000 to 2010. Central banks are also exploring them as part of projects around digital currencies. There is one trunk but many releases that derive from the trunk. Use the Reserve to mint Elephant Money Stable (TRUNK). Well-known Fiat-collateralized Stablecoins. 1. There are two primary means stablecoins achieve this stability, collateralization and algorithms. 1. 05% bonus on every deposit and compound you can do so by becoming my partne. 3. Coinpaprika. Money suffered a major loss today with investors losing about 90% of their value in the platform in seconds. Trunk Staking & Stampede Bond. 8M BUSD to H1, 64,450B. TRUNK's market cap is $7. Some stablecoins are backed by assets; other stablecoins are backed by algorithms or volatile cryptocurrencies. Its sister coin Luna was worth more than $80 (€76. For now, this guide focuses mainly on the migration from SVN to git in order to help everyone get on a solid footing with the move to GitHub. The coins are collateralized with cryptocurrency assets and the value can be determined from those assets. Tether. Market Cap. Step 4: Swap 34,244,200,239,512. and Europe, as well as a consumer flight to safety in the crypto. The cryptocurrency was initially created by Binance, and it is the most significant trading volume. . Suzxy •. Enhancing the safety of the Libra payment system with a robust compliance framework. What do you think about terrausd (UST) becoming the third-largest. dollar in a 1:1 ratio, meaning that USDD maintains its value at a fixed exchange rate to the U. Circulating Supply. Installing Ipopt. Stable coins are so-called (mostly) pegged to a Dollar. Tether. Stablecoin usage continues to climb in 2023, with hundreds of thousands of users relying on these US dollar-pegged cryptocurrencies every day. 2 million in equivalent has been lost permanently. 2 million coins and since then, the UST supply has increased by 132,504%. The most popular stablecoins today use a centralized model and back new token issues with fiat currency at a one-to-one ratio. For example, Coinbase reports that some individuals have sent upwards of $1 million in USD Coin with transfer fees of less than $1. MONEY implements an open global economic engine for stable coin yield. 4. It also uses a TRON address for deposits and withdrawals which takes place on the TRON blockchain. This enables on-chain access to tokens that are purpose-built for stability in a market known for its volatility. Stampede deposit is locked and drips out a percentage daily. TRUNK is over-collateralized by BUSD with deep liquidity. With increasing regulatory pressure towards fiat-backed stablecoins, the potential development of a wholesale CBDC in the U. Step 5: Redeem with 90M TRUNK – Burn 90M TRUNK – Withdraw 66. While the IT titan isn’t new to the world of crypto, stable. The coin, called TerraUSD, is designed to maintain its value at $1. Bitcoin, for example, can rise or drop by double-digit percentages in just a few hours. 1. S. A stablecoin is a cryptocurrency designed to maintain a steady value by being tied to a more stable asset like a traditional currency or gold. Hackers performed this attack a number of times; per Elephant Money's estimations, in total, $11. 00. 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. 8M BUSD to H1, 64,450B ELEPHANT to H1 COIN-OR Developer's Guide. The current CoinMarketCap ranking is #269, with a live market cap of $119,607,972 USD. scalciaregt • 2 yr. 0000055761 BTC BC. Frequently Asked Questions. Photo: Pixabay. This decoupling compromised the algorithm and sent both cryptocurrencies into a nose-dive. 8 BUSD is equal to the value of 276. 2 million worth of Binance Coin. Less than two years into its existence, BUSD is already the world's third-largest stablecoin by market cap, behind USDT and USDC. 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. Their value is fixed, usually on a 1:1 basis with the U. TRUNK has never gone to zero and the system dynamically adjust yield generation based on the percentage to peg. For example, if functioning correctly a stablecoin pegged to the U. Yahoo - ELEPHANT. 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. Go to quickswap to enter the pair in a liquidity pool. S. Token Holder Distribution.