We like to keep an eye out for new up and commers in the market, but with the amount of coins being created daily, it's incredibly difficult to know which projects are legit and which are looking to pull the rug and run away with investors $$. We do extensive research on each coin that piques our interest and we want to share it with you today. Introducing....Elongate..... This is a deflationary charitable coin on the Binance Smart Chain that has already raised $1Million USD in it's very first month! They have donated $825,000 to various charities as well as member giveaways which recently included a brand new Tesla Model 3! Elongate has pledged to donate to charity every single week as long as they are in operation and with more investors comes more to donate. How does this work? Every transaction made on the network will incur a 10% fee, 5% of this fee is redistributed to the community of holders, the longer you hold, the more coins you earn; the remaining 5% of the fee is used as liquidity provider tokens on the PancakeSwap Liquidity Pool, 60% of which are removed on a weekly basis to be used as proceeds to selected charities as well as some of those tokens being burned, making this a deflationary coin. The exact tokenomics are available on their website and are worth a read, it's easy to see why Elongate stands out from the rest in this category. There are views of adding an NFT Launchpad to the website where a staggering 80% of profits generated there will be added to the charity donations!!
Elongate was born just hours after Elon Musk had tweeted "If there is ever a scandal about me, please call it Elongate". While the currency had started out as a joke, as they started to gain traction the team realized they could be onto something and could help a lot of people along the way. They have since distanced themselves from the meme but show no regrets to their humble beginnings.
With a current price of $0.0000005USD and an ATH of $0.00000109USD, you really can't go wrong with a small investment large investments can know they're contributing to the donation pool AND earning coins back while holding. While there are no guarantees in this industry and even more so in the low cap sector, we believe Elongate is here to stay and we are very excited to see the future of this project and all those that are helped along the way.
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