Is TRUNK safe?

Elephant Money Stable — TRUNK — is the stablecoin of the Elephant Money protocol, bridged to Solana through Wormhole at mint 9mV4WUukVsva5wYcYW4veo34CNDiF44sh3Ji65JNdvh5. The October 6, 2026 snapshot records about $570 thousand of tracked liquidity, a market capitalization near $966 thousand, and roughly 3,245 holders on the Solana side.

The honest version of this page needs the history on the table: Elephant Money suffered a major exploit in 2022 — tens of millions drained through a flash-loan-assisted manipulation of its bonding mechanics — and TRUNK has spent periods trading below its $1 target since. The protocol rebuilt and the token survives, which says something real about persistence; but a stablecoin's whole product is the peg, and "has depegged before under stress" is the single most relevant fact about one.

On Solana specifically, you are holding the bridged representation — Wormhole custody of a BNB Chain asset — so the risk stack is: the issuer's peg mechanics, plus the bridge's custody, plus this pool's own depth. $570 thousand is usable liquidity, not deep liquidity.

None of that means "avoid" — it means read the peg chart before the safety grade. If TRUNK is trading meaningfully under $1, the discount is the market pricing exactly the risks described above, and buying the discount is a bet on the peg restoring, not a stablecoin purchase. The full mint is printed above; the name is generic enough that verifying it matters. Snapshot dated October 6, 2026.

Balance concentration: the 10 largest token accounts hold 95.82% of TRUNK's supply as of 2026-08-18 — a heavily concentrated distribution — a handful of accounts can move or exit this market at will. Note these are token accounts: liquidity pools, exchange wallets and lockers count among them, so read this together with liquidity, not instead of it.