Is Anyone On Elephant.Money or Bankroll? (I've Never Done These)

So one of the guys I follow on YouTube. Crypto Slo has been very insightful about Binance Smart Chain stuff. I knew he has been on Bankroll for a long time and I guess the same developer from that just came out with Elephant.Finance on the BSC. They just opened the WBNB pool but they have Bitcoin and bdo as well which is a stable coin.

https://www.youtube.com/watch?v=ajpFmzAj6j4

I was blown away because he threw over 4 BTC into it and then is going to put 1000 BNB into the WBNB pool.

I got looking at it and it says the following.

ELEPHANT.MONEY is a future-proof way to compound profits made on BSC. A transaction fee of 10% is charged on deposits and withdrawals that is distributed as follows: 100% of fees collected are distributed to the community WBNB rewards pool. The rewards pool drips 2% rewards daily.

So basically the only revenue source seems to be the fees from people coming and going. So if you get 2% / day than you would have to be around for over 10 days.

What I Don't Like About it

For the same reason that I don't really like the premise of staking HEX. It isn't really facilitating anything. The only revenue source is dinging you for moving your money in and out. With something like Cub Finance you are at least providing liquidity for the exchange function and facilitating a bridge from HIVE / LeoFinance to the Binance Smart Chain which allows you to access all these other tokenized assets from other blockchain.

Is It Sustainable?

I really don't know to be honest. I guess the one on Tron has been going for over 2 years. It is sort of a musical chair scenario in my mind unless the code allows for the daily 2% distribution to shrink in a situation where the liquidity pool gets low. As long as the contract is complex enough to shrink the daily reward down in the event enough people didn't flow in recently you would think the reward pool would run dry.

The reward pool on HIVE, STEEM, LEO...etc is created through inflation. But on there it is created but the fees a person gets hit with when they enter and exit the contract.

Conclusion

Right now I'm making a better return with Cub Finance and then blogging on LeoFinance, HIVE, STEEM, and also putting my videos on DTube as well. The main comparison can be drawn to Cub Finance. Especially when I'm able to compound several times / day on Cub Finance because I have a decent amount of money in the system.

Have any of you guys participated in these kind of contracts?

Posted Using LeoFinance ^Beta