Open in app

Sign in

Write

Sign in

The Elephant in the crypto-space…

Tusker Finance
6 min readApr 7, 2021

--

Introduction

Tusker Finance — https://tusker.finance — is a DCO (Decentralized Charitable Organization) dedicated to elephant conservation. $TUSK serves a dual purpose as both a governance and deflationary token. The sole purpose of this project is to be a community-run organization focused on building partnerships with and supporting elephant-based charities.

How it works

The project started on the 19th of March 2021 via a fair launch. 10% of the supply was allocated to the charity wallet. The remaining 90% was locked into the Uniswap liquidity pool.

Each transaction incurs a 2.5% fee, of which half goes to wallet holders and the other half is burned. This mechanism allows the charity wallet to passively grow in value. Once it has accumulated a minimum of 1 ETH in profit, that profit is donated to a charity selected by a governance vote.

We only make donations to charities with public Ethereum addresses so that we can maintain total transparency. We have already made one successful 1 ETH donation to the Wild Tomorrow Fund. You can read our interview with them here. We currently preparing our next donation.

NFT Certificates

We believe in the value of NFTs as proofs of ownership, participation, or just as collectibles.

After each donation to a charity, we will distribute a special NFT as proof-of-participation to all $TUSK hodlers who own a minimum amount $TUSK in their wallet. This amount will be announced before each donation and will be based on the current price of $TUSK.

Our first donation to Wild Tomorrow Fund was celebrated with our first NFT distribution to 295 $TUSK hodlers. The NFT featured the elephant Velempini who is helped of by the charity. The image was provided by Wild Tomorrow Fund.

First NFT to commemorate our 1st donation to Wild Tomorrow Fund, redistributed to $TUSK hodlers

Under the hood, we are utilizing the POAP (Proof of Attendance Protocol) to redistribute the NFT to eligible hodlers. The NFT resides on the xDAI network and is transferrable to the ETH Mainnet. It’s up to the tusker to leave it there or transfer it. xDAI has multiple advantages over Ethereum, especially a much smaller energy footprint — good for the planet, good for elephants!

Lead by the Community

Our goal is that the tuskers (our community members) lead the development and steer the direction of this project.

To enable community governance, we have implemented the following:

  • Snapshot governance — All substantial proposals will be announced and created on our governance website at https://gov.tusker.finance. This allows the community to use their $TUSK to vote on proposals, the more $TUSK you own, the more your voice weighs. Our first voting proposal was to choose the charity for the second donation, and C.R.O.W. was chosen by the community!
  • Multisig community charity and marketing wallets — There will be a minimum of 8 eligible signers for any transaction coming out of these two wallets. A minimum of 4 signatures will be required to validate a transaction. The current partition is 2 admins, 4 mods (coming from the community) and 2 voluntary community members. We may increase these numbers based on community feedback.

The Elephant cause

Around 90% of African elephants have been wiped out in the past century — largely due to the ivory trade — leaving an estimated 415,000 wild elephants alive today, and still declining. That’s how the idea of calling the token $TUSK was born: don’t trade ivory, trade TUSK! Accumulating that virtual ivory and funneling this energy into a real life impact on elephant conservation.

From supporting orphan baby elephants, to fighting poachers and securing elephant pathways and migration corridors, we will try to help and donate to any charity willing to receive cryptocurrencies. If we can democratize the use of crypto for donations and charities in general, our job will be fulfilled. As always, we strongly encourage direct donations to all these charities, they need it and any amount is welcome, every donation has a real impact on elephant preservation.

Tokenomics

We are a fork of the now well-known RFI token. The contract is visible on etherscan and has already been audited multiple times on different projects.

  • Initial supply: 2,000,000,000,000 $TUSK (2T)
  • Initial burned supply: 1,000,000,000,000 $TUSK (1T)
  • Circulating supply: 1,000,000,000,000 $TUSK (1T)
  • Community Charity Wallet: 100,000,000,000 $TUSK (100B) — 10% of circulating supply
  • Liquidity on Uniswap with fair launch: 900,000,000,000 (900B) — 90% of circulating supply
  • 1.25% of each trade is redistributed to holders
  • 1.25% is burned (redistributed to Burn Address)

Roadmap and upcoming updates

Most of the features announced in our initial roadmap have been implemented and are live, all in about 2 weeks of hard work on this project and thanks to our community.

We still have plenty to do, here are the main points on the roadmap:

  • Listings on CoinGecko and CoinMarketCap — We have already applied to be listed but it seems that our volume is currently too low and CG will review the listing later on, CMC hasn’t got back yet at the time of this article.
  • CEX listings will come once we get a higher trading volume and marketing funds to be able to pay the listing fees (they vary highly from one CEX to an other).
  • BSC tokens are not on the menu as of now, we could create the token but then we might face liquidity issues since all tokens are locked on Uniswap.
  • Add incentive to provide LP on Uniswap, this could come as a LP token farm with Non-transferrable tokens, and these tokens could be used to purchase unique NFTs.
  • Partner with more organizations and charities, help them set up ETH donations payments, etc…
  • Big marketing push on social media to increase exposure, both to crypto and non-crypto users.

A new NFT distribution has started! To fund our second donation to C.R.O.W. and involve the community, we will distribute two special NFTs:

  • 2D donation participation certificate to all $TUSK holders with more than 50M $TUSK at the time of donation — similar to the first NFT drop.
  • NEW! 3D donation certificate to all direct donators with more than 0,05 ETH to the charity wallet (period: 6th April to donation date included)
  • NEW! 3D Rotating Tusks Trophy (RTT) to all direct contributors to the marketing wallet over 0.1 ETH (period: 6th April to 13th April included)
  • 2 copies of 3D RTT will be auctioned on OpenSea with a starting price of 0.25ETH, all profits will go directly to the charity wallet (period: 14th April to 18th April)
  • 1 copy of the RTT NFT will be awarded in a treasure hunting game, first winner to find the treasure will earn the NFT! (Starts on 19th April and finishes on 25th April)

A Big THANK YOU!

Thanks to all early members for joining us on this journey, and especially to all members that wanted to have an impact on the project and joined our mod group, for moderation, ideas, social exposure and creating NFT arts!

Also big thanks to Wild Tomorrow Fund for being supporters of cryptocurrencies, have a talk with us (transcript available here) and feature us on their partner page!

Official links

--

--

Tusker Finance
Tusker Finance

Written by Tusker Finance

3 Followers
2 Following

See all official announcements and news on our website at https://tusker.finance

Responses (1)

Help

Status

About

Careers

Press

Blog

Privacy

Terms

Text to speech

Teams