ELONGATE (cryptocurrency)
ELONGATE is a Swiss social impact movement and frictionless yield and liquidity generation token. It started on July 23, 2021.[1]
Etymology
The name of the project originated from Elon Musk's tweet referencing the Watergate Scandal but is not related to him.[2][3][4][5]
Description
ELONGATE is an active community that intends to use the power and leverage of meme culture to raise awareness of and combat world hunger. It is a BEP20 deflationary token issued on the Binance Smart Chain. It is also a charitable organization that has pledged to give 80% of its income to charity.[2]
It charges a 10% fee on all transactions, half of which is given to token holders, while the remaining 5% is donated to charity. The token had over 400,000 holders as of May 2021.[2][1] Elongate has donated over $1 million to non-profit organizations such as Children International, Malala Fund, Action Against Hunger, and The Ocean Cleanup within the first three weeks of its creation.[3][6][7] It raised $3.25 million for Children International, Human Relief Foundation, and Action Against Hunger.[1][8][9]
It live streams weekly charity parties on the Twitch platform to raise money for non-profit causes. Elongate held a live stream with the National Kidney Foundation's CEO, Kevin Longino, to raise money for the foundation. In May 2021, Elongate donated $150,000 to the EB Research Partnership.[10]
On May 24, 2021, Kimbal Musk and Elongate hosted a charity event on Twitch. During the live stream, they discussed Musk's non-profit Big Green and its project, the Million Gardens Movement. Elongate had previously donated $400,000 to Big Green.[3]
As of June 2021, the organization had donated over $3 million to charity, including the Human Relief Foundation, Color The Spectrum, and GiveIndia. [3]
Hasan Aziz serves as the Chief Operations Officer of the company, with Alexander Gambon as its Chief Brand Officer.[3][8]
References
- ↑ 1.0 1.1 1.2 Lian, Anndy (2021-10-01). "Crypto Startups Delivering Change in the Charity Sector". Securities.io. Retrieved 2021-11-16.
- ↑ 2.0 2.1 2.2 "Social Network for Programmers and Developers". morioh.com. Retrieved 2021-11-16.
- ↑ 3.0 3.1 3.2 3.3 3.4 "The rise of crypto charities: Elongate and Munch raise millions for various causes". Cointelegraph. Retrieved 2021-11-16.
- ↑ "Elongate crypto: the future of charity cryptocurrency?". capital.com. Retrieved 2021-11-16.
- ↑ "ElonGate Crypto Explainer for Beginners". BeInCrypto. 2021-08-12. Retrieved 2021-11-16.
- ↑ "Elongate crypto: the future of charity cryptocurrency?". capital.com. Retrieved 2021-11-16.
- ↑ Calev Ford. "Elongate and Munch Raise Millions for Charitable Causes." Retrieved 2021-11-16.
- ↑ 8.0 8.1 Lian, Anndy (2021-07-14). "Anndy Lian Shared His Perspectives on Crypto Giving with ElonGate, World's Largest Charity Crypto • Anndy Lian | Inter-Governmental Blockchain Adviser | Book Author | Investor | Board Member | Singapore". Anndy Lian | Inter-Governmental Blockchain Adviser | Book Author | Investor | Board Member | Singapore. Retrieved 2021-11-16.
- ↑ "ElonGate Crypto Explainer for Beginners". BeInCrypto. 2021-08-12. Retrieved 2021-11-16.
- ↑ PhD, Aisha I. Abdullah. "Elongate Donates $150K to EB Research Partnership's #CryptoForCures". Retrieved 2021-11-16.
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