ElonGate’s boldest goal is to ease the suffering of millions through charitable contributions, 80k holders in 2 weeks time.
PANCAKE LP 250,000,000,000,000
PRE-SALE ALLOCATION 400,000,000,000,000
The earn aspect of ElonGate 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 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. 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.
For the best interests of the community, the burn process has been instituted as part of a manual extraction process ocurring 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.
* This is our current approach to ElonGate’s tokenomics to ensure that we are capable to operate fully sustainably. Moving forward, a continuous assessment program will be instituted and the whole community will be involved in the decision-making process. We also have a wallet set up to hold manual buyback funds: up to 20% of the BNB extracted in a cycle can be returned to the pool to support a stable liquidity. Adaptability is a key security measure that the team upholds to put ElonGate in the best place for long-term sustainability and growth.
The ElonGate NFT Launchpad
In recent months, Non-Fungible Tokens (NFTs) have been taking the world by storm. In brief, NFTs are multimedia art that has been tokenized in the blockchain. One intrinsic offering that we have been establishing since ElonGate’s inception is our community NFT Launchpad.
The ElonGate NFT Launchpad is a platform exchange built upon the ElonGate ecosystem that facilitates the tokenization of multimedia art as well as the ability of our community to trade and own these assets. This provides not only a utility aspect but also a redeemable aspect to the ElonGate token. As with any offerings within the ElonGate ecosystem, charity is well integrated into our crypto-collectible platform.