Member-only story
The DeFi Chronicle: Are 600%+ APYs on a stablecoin possible?
You may have heard of the Apple Newton. Before Apple was the highest valued company on earth, they tried and failed with several products. In the 90s some of these failures included a digital camera, a Macintosh TV, a 20th anniversary Macintosh, and of course the $100 million Apple Newton. Although I’ve never worked for Apple, I’m certain that each of these failures helped them in creating some of the most innovative and technology-changing solutions in the early 2000s.
I’ve recently explored and invested in a new DeFi project on the Binance Smart Chain called Elephant Money. What initially attracted me to this project is the developer, BankTeller, who created Elephant Money also created Flow, the project Drip forked from.
If you aren’t familiar with Drip, refresh your Medium feed a couple of times or and I’m sure you will find an article discussing Drip. Here’s one I have written. For me, Drip has been the best investment of my life on a dollar-for-dollar basis. So if the original creator of the Drip story has made a new project, it only makes sense for me to take a closer look under the hood.
Before I talk about the project
I want to be clear that I do not see Elephant Money as a replacement to Drip. Imagine you are a professional golfer and your Driver allows you…
