With the advent of seigniorage and modern “cash systems,” elastic supply tokens were initially met with equal parts excitement and bewilderment. It is polarizing to say the least. From amateur investors to the crypto cognoscenti, elasticized finance (“EFi”) tokens, with their contracting and expanding supplies have been hailed as the future of money by some, while characterized as a Ponzi scheme by others. In recent history, such divisive interpretations have been ascribed to none other than Bitcoin. As the esteemed cyber security expert and longtime crypto advocate, Andreas Antonopolous noted on the seminal cryptocurrency, “it is not what it appears to be at first glance.” And so it is with elastic tokens—they come replete with expansion and contraction, creative pegs and dubious price feeds that fail to accurately reflect gains or losses. In the summer of 2020, they found the spotlight and quickly recessed only to appear once more and fizzle again. Now, they are surreptitiously beginning to take root and quietly make their mark. For those willing to experiment with what has been dubbed, “an experiment,” it can be a mystery and a minefield to navigate.