Elongate.cc is a crypto project that began as a parody of Elon Musk’s tweet referencing the Watergate Scandal. It has since ballooned into an active community with over 100K holders, determined to wield the power and capital of memes and internet culture to change the face of charitable giving. In the first month, ELONGATE raised over $1M for charity. ELONGATE pledges to give back 80% of its income to charity. The combination of a philanthropic initiative with cryptocurrency is a major paradigm shift. ELONGATE strives to become pioneers in this realm.
Elongate.cc began as a meme, inspired by a viral tweet from company favorite billionaire at the forefront of revolutionizing cryptocurrency. The events that transpired after a company establishment saw the formation of a community spanning 25,000 people a number that is constantly growing. In 2021, the battle against the global pandemic has forced the world to embrace digital initiatives in a parabolic trajectory.
Elongate.cc Key Information
|Token Type||ERC-20 Etherium Blockchain|
|Initial Token Price||1 token = 0.00000019301 USD|
|Total Supply||100,000,000 MTO|
|Token Type||BEP 20 – Binance Smart Chain|
|Ico Price||1 RLY = 1.2 USD|
|Whitepaper||Click Here For View Whitepaper|
|Website||Click Here For Visit ICO Homepage|
The Game Change Team Behind Elongate.cc
Founded by the community and for the community, Elongate.cc take pride in collective mission. They support each other and other communities, and they have fun doing it. A company share transparent information with each other and the community. They are organized, cohesive, and all push in the same direction. The future is coming, and they’re ready for it.
Elongate.cc make every decision with consideration for its ripple effects, and they are committed to a long-term vision. They can make a real impact for the greater good, not just ourselves. By donating to charity, they remind ourselves of a company duty to make this world a better place for everyone.
Binance Smart Chain
The Binance Smart Chain (BSC) is a blockchain network that runs in parallel to the Binance Chain. In contrast to the Binance Chain, BSC features smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM). The Binance Smart Chain offers community the added interoperability of facilitating their investments through Ethereum-based wallets, such as MetaMask.
An added advantage of issuing ElonGate tokens on the BSC is that it offers community an affordable blockchain experience through smaller transaction fees compared to the Ethereum Network.
Gnosis Safe Multisig
As an added security feature for the token/ liquidity pool of ElonGate, the Gnosis Safe Multisig platform was implemented. The Gnosis Safe Multisig is a smart contract wallet that requires a minimum number of people to approve a transaction before it can occur (M-of-N). This means that a multisignature signoff from the whole of the leadership team is required for any token interactions with the LP wallet.
Elongate.cc ($ElonGate) is a BEP20 token issued on the Binance Smart Chain with a total fixed supply of 1 Quadrillion (1015) tokens. The ideation of ElonGate as a token with charitable purposes entered a pre-sale campaign which was hosted by DxSale, a decentralized, cross chain, token management platform as a service. Further to this, ElonGate’s initial token liquidity pool has been locked under DxSale’s DeFiLaunch Certified Liquidity Locker, ensuring safety and security for our community of investors.
PancakeSwap is a Binance Smart Chainbased Decentralized Exchange (DEX) for swapping BEP-20 tokens. To facilitate Elongate.cc initial public offering, PancakeSwap offers our community the ability to exchange their BNB for ElonGate. In line with a pragmatic approach, ElonGate shall be listed into major exchanges in the near future.
Sneak Peak into potential NFT drops
After each NFT drop event, Elongate.cc will run the giveaway for holders. Expect at least 1 NFT drop per month. This is just an idea of whats to come. The United Nations World Food Programme is the world’s largest humanitarian organization focused on hunger and food security. Action Against Hunger is a global humanitarian organization which originated in France and is committed to ending world hunger.
Space Themed Artwork and Media NFTs
Brilliant artworks from brilliant artists. Our team will finely curate the best works for our NFT Drops. The community provides, votes, and decides which top Memes will be minted. Special bonus prizes if your submission gets voted in as an NFT drop. $ElonGate may have been born a memecoin, but will go down in history as the biggest memecoin that helped tackle world hunger and other charities. There was this tweet which is ironic, as the poster doesn’t realise that Elon will donate half of his wealth to charity while he is alive. they are with you Elon!
The token’s utility can be summarized into 3 fundamentals: earn, burn (through token extraction), and charity. These will be further explained in the proceedings of this chapter.
The earn aspect of Elongate.cc is backed by the imposed 10% tax for all transactions. Five percent of this tax is redistributed to the community, proportional to the tokens that they hold. This system incentivizes of community of holders who in turn support ElonGate to make it a sustainable movement. Further details are outlined below:
- Five percent of the tax is redistributed to the community of holders, proportional to the ElonGate tokens they hold.
- The remaining 5% is transferred back as liquidity provider tokens to the PancakeSwap Liquidity Pool (LP). On a biweekly basis, 60% of the newly accumulated LP tokens will be removed from the liquidity pool and a majority of this will be appropriated as proceeds to chosen charities.
For the best interests of the community, the burn process has been instituted as part of a manual extraction process ocurring every 7 days. There are cases wherein the burn process increases the floor price. In Elongate.cc, burn has been integrated into a charity-burn system Of the newly accumulated LP Tokens (the 5% fee) over a one-week cycle, 60% will be removed from the PancakeSwap Liquidity Pool: half are BNB, half are ElonGate. These tokens will then be appropriated to our overarching initiatives in public and transparent wallets, which will be vetted by the community as we go further.