In a new age of technology and currency, it’s hard for one not to hear about “Crypto”. As one may ask – what exactly is it? Cryptocurrency or “crypto” is a digital currency that can be used to buy goods or services. Bitcoin is the first modern digital currency and current leader of the blockchain now at new heights of over $60K per token. Following bitcoin are numerous coins known as altcoins that have entered the crypto space and all of these have different project roadmaps and tokenomics. Some have had major success while others have pulled the rugs and have scammed people out of their money.
That leads us to Elongate, a token that started as a memecoin after Entrepreneur Elon Musk tweeted “If there was ever a scandal about him to call it Elongate.” Well, that tweet encouraged a group of very skilled developers to put together a coin with a purpose, and that purpose is to give back to people in need and organizations that sometimes don’t get the exposure and assistance they desperately need. So how do we know Elongate is moving forward in the direction that they ought to commit? To answer that question, they have made record-breaking donations to NGOs – a pledge of over $1M in as little as two weeks! It is truly incredible what Elongate is doing and how rapidly the number of shareholders (120K shareholders as of this writing) have contributed in efforts to give back to the programs and charities.
So far, they have donated $325K to Children International; $245K to Action Against Hunger, $245K to Ocean Cleanup, and $245K that was pledged to their road map partners. Again, this was all done in less than two weeks. The incredible effort that has been put into and behind this token sets a new ground floor for up-and-coming tokens in the cryptocurrency space.
Another huge appeal of Elongate is its unique tokenomics. Elongate is a deflationary token that encourages individuals to hold their Elongate tokens as they are rewarded with a percentage of all tokens that are redistributed from the outgoing transactions. What is unique about the Elongate token is perfectly described in its whitepaper – its tokenomics integrate the speculative nature of cryptocurrency trading with the project’s charitable goals. This means that even outgoing transactions contribute to the charitable initiatives that the Elongate team holds every week.
Elongate’s motivated team has used a tweet as a springboard to try to heal the problems of our world on a level that none of them imagined would happen so quickly.
Asked about the future for the Elongate token, Gene Rhode, Chief Marketing Officer of the project explains “The team is leading various overlapping initiatives in order to make this project scale. Our dedicated teams are working around the clock not only on forging charitable partnerships but also in developing an MVP. In the year 2021 where NFTs have taken the stage, the rollout of our launchpad is imminent. The Elongate ecosystem is unique in that it allows for the diversification of its use not only in the digital space but also in the real world.”
For more information on Elongate and how you can be apart of this amazing movement, follow Elongate on Twitter orInstagram as well as their official website www.elongate.cc