Elephant Money (TRUNK)
TRUNK
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
TRUNK (Elephant Money) exhibits severe weaknesses across all evaluated dimensions, resulting in an overall score of 2.0. The protocol suffered a massive flash-loan price manipulation exploit in April 2022 resulting in losses between $11.2M and $22.2M, which an earlier Solidity Finance audit failed to prevent. Development activity is stalled to dead with renounced admin keys and no meaningful progress since mid-2024. Community participation is practically non-existent with minimal holders and negligible transactions. Tokenomics are broken by a ~96.6% depeg from its nominal $1 redemption target, thin PancakeSwap liquidity ($11.8K), and historic unsustainable high-yield mechanisms. Combined with an anonymous team, absence of formal DAO governance, and fragmented low-volume trading, TRUNK represents extreme downside risk with virtually no viability.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Elephant Money (TRUNK) (TRUNK)
TRUNK is a collateral and deflationary utility token of the Elephant Money protocol, operating primarily on the BNB Smart Chain. Designed within the protocol's decentralized finance ecosystem, the token was originally created around a nominal $1 redemption target and utilized in yield-generating mechanisms, including high-yield Stampede bonds and staking farms.
In April 2022, the protocol suffered a major flash-loan price-manipulation exploit targeting the TRUNK minting process. The attacker manipulated the ELEPHANT token price during TRUNK minting to repeatedly extract funds, resulting in losses reported between $11.2 million by the project's post-mortem and $22.2 million by PeckShield, while causing the associated ELEPHANT token to drop approximately 88%. A prior security audit conducted by Solidity Finance failed to identify this price-manipulation vulnerability. Following the exploit and structural pressures from high-yield offerings, TRUNK experienced a severe depeg of approximately 96.6% from its $1 redemption target.
The project is managed by an anonymous team without formal decentralized autonomous organization (DAO) governance or on-chain voting procedures. The ecosystem underwent unilateral restructuring that included discontinuing the STAMPEDE and FARMS mechanisms. While the administrative keys for the TRUNK contract were later renounced, active development has stalled with no verifiable progress since mid-2024, and the token experiences minimal trading volume and thin liquidity.