🟥Tokens

House Tokens

Elite is a multi-token protocol which consists of the following three tokens:

$ELT

The $ELT token is outlined for use as a medium of trade, and is intended to have many other use cases as the ecosystem grows. ELT is algorithmically pegged to $USDC.

$ESHARE

$ESHARE is one of the ways to measure the value of the Elite Protocol and trust in its ability to maintain $ELT close to peg. During epoch expansions the protocol mints $ELT and distributes it proportionally to all $ESHARE Stakers in the Boardroom who have staked their tokens.

$EBOND

$EBONDs main job is to help incentivize changes in $ELT supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of $ELT falls below 1:1 $PLS, $EBONDs are issued and can be bought with $ELT at the current price. Exchanging $ELT for $EBONDs burns $ELT tokens, taking them out of circulation (deflation) and helping to get the price back up to peg.

These $EBONDs can be redeemed for $ELT when the price is above peg in the future. This amounts to inflation and sell pressure for $ELT when it is above peg, helping to push it back toward 1 $ELT to 1 $USDC ratio.

If your $ELT is below peg and you exchange it for $EBONDs and redeem after peg is above 1.1 to receive bonus $ELT! All holders are able to redeem their $EBOND for $ELT tokens as long as the Treasury has a positive $ELT balance, which typically happens when the protocol is in epoch expansion periods.