WHITEPAPER |
GET INVOLVED |
NFT LAUNCHPAD |
Elongate |
Elongate Telegram ElonGate began as a meme, inspired by a
viral tweet from our favourite billionaire at the forefront of revolutionising cryptocurrency. The events that transpired after our establishment saw the formation of a community spanning 40,000 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.
Contents* Core Values
* Roadmap
* Tokenomics
* Our Charities
* Buy
Core Values* Charity
* Community
* Clarity
* Sustainability
CharityCharity We can make a real impact for the greater good, not just ourselves. By donating to charity, we remind ourselves of our duty to make this world a better place for everyone.
CommunityFounded by the community and for the community, we take pride in our collective mission. We support each other and other communities, and we have fun doing it.
ClarityWe share transparent information with each other and the community. We are organised, cohesive, and all push in the same direction.
Sustainability
The future is coming, and we’re ready for it. We make every decision with consideration for its ripple effects, and we are committed to a long-term vision.
RoadmapPHASE 1 [DONE] Launch of website and social media channels.
Creation of an overarching marketing strategy; multiple partnerships with influencers forged.
Establishment of the community's Corporate Social Responsibility: commitment to support the UN WFP, Action Against Hunger, as well as the Big Green Organization.
Conceptualisation of NFT launchpad.
PHASE 2Launch of our official white paper. [DONE]
Establishment of corporate entity to fortify our public relations strategy and represent our global community. Re-branding of website, social media channels, and all external assets. Execution of our Corporate Social Responsibility: donations to the UN WFP, Action Against Hunger, as well as the Big Green Organization. Finalisation and release of NFT launchpad; overarching activities in the NFT space which includes drops, auctions, and competitions. Confirmation of CoinGecko and CoinMarketCap listing. Crowdfunding for registration and listing in major exchanges.
PHASE 3Forging of corporate partnerships. Launch of novelty merchandise for the Elongate community. Global press release outlining confirmed launches in major exchanges.
PHASE 4Diversification into real-world use cases.
TokenomicsThe token’s utility can be summarised into 3 fundamentals: earn, burn (through token extraction), and charity. These will be further explained in the proceedings of this chapter.
ElonGate ($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 decentralised, 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.
Gnosis Safe MultisigAs 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 multi-signature signoff from the whole of the leadership team is required for any token interactions with the LP wallet.
Charity-BurnOf the extracted BNB:
67% - Charity
20% - Marketing fund
13% - Business & Logistics fund Of the extracted
Of the extracted ElonGate:
67% - Burn
33% - Community Giveaways In other words, 1% of the accumulated transaction volume of the two-week period will be donated to charity, and an equal amount will be burned.
EarnThe earn aspect of ElonGate is backed by the imposed 10% tax for outgoing transactions. Five percent of this tax is redistributed to the community, proportional to the tokens that they hold. This system incentives our community of holders who in turn support ElonGate to make it a sustainable movement.
Further details are outlined below:
1. Five percent of the tax is redistributed to our community of holders, proportional to the ElonGate tokens they hold.
2. 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 our chosen charities.
Token ExtractionFor the best interests of the community, the burn process has been instituted as part of a manual extraction process occurring every 14 days. There are cases wherein the burn process increases the floor price. In ElonGate, burn has been integrated into a charity-burn system. The initial algorithm is as follows:
Of the newly accumulated LP Tokens (the 5% fee) over a two-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.
What is unique about the ElonGate ecosystem is that it universally provides a goodwill commitment to the speculative nature of cryptocurrency trading – both incoming and outgoing transactions intrinsically reflect the charitable cause of ElonGate. For example, an outgoing transaction contributes to the liquidity pool wherein tokens are removed and appropriated as proceeds to our chosen charities.
Our Charities:As a community built around Corporate Social Responsibility (CSR), ElonGate will constantly integrate the charity aspect in all our intangible and tangible offerings and use cases. Moving forward, our chosen charities will continue to evolve as we get more input from the community. A proper forum and voting system will be put in place. As of Q2 2021, the following charities will be part of the ElonGate journey:
United Nations World Food Programme:
The World Food Programme (WFP) is the leading humanitarian organisation saving and transforming lives by delivering food assistance in emergencies. They also work with communities to improve nutrition and build resilience. For its efforts to combat hunger and contributions to better world conditions, the WFP was awarded the Nobel Peace Prize in 2020.
Action Against Hunger:
Action Against Hunger is the world’s hunger specialist that leads global efforts to save hundreds of thousands of lives of undernourished children. The organisation is committed to helping all children access the urgent hunger care they need to survive.
Big Green Organization:
The Big Green is a nonprofit organisation that was started in 2011 by Kimbal Musk and his fellows. Big Green pledges to work as allies and advocates for marginalised communities. They aim to do this by constant education and support initiatives to increase awareness about racial biases.
Children International^1:
Children International is a leading humanitarian organisation focused on helping children break the cycle of poverty. Children International aims to help kids graduate healthy, educated, empowered, and employed. ElonGate’s highest aim is to be the official partner of charitable organisations in the cryptocurrency space. We aim to educate them about the digital world of crypto as well as guide them in this journey to bridge the real world and digital aspect of charity.
1 Children International accepts cryptocurrency donations
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