Crypto ventures with a purpose may attract more investors since they motivate people to make a difference. Charitable cryptocurrencies like Elongate (ELONGATE) drive a social impact movement by giving large amounts of money to charitable causes.
Elongate (ELONGATE) is a cryptocurrency token traded on PancakeSwap, a Binance Smart Chain exchange. Like Dogecoin (DOGE), the cryptocurrency was inspired by Elon Musk’s March 2021 tweet.
Elongate is a crypto initiative that seeks to fuel a social impact movement. The Elongate ecosystem operates by charging reward holders a 10% transaction charge and donating a large amount to charity.
Half of the fee goes to the community, based on their Elongate token holdings—half to Pancake Swap Liquidity Pool (LP). Every week, 60% of the tokens collected go to charity.
Anndy Lian joined as a Non-Executive Chairman of the EG Association’s governing board. His primary responsibilities are to lead and advise the board, supporting decentralized and effective board governance.
Elongate declared complete multi-entity incorporation. Their two freshly created entities were launched when Elongate was officially incorporated. The EG Association oversees social impact initiatives such as contributions, charity events, and fundraising. ELONGATE Global will control technology platforms and disruptive technological progress.
As of September 23, 2021, Elongate crypto donations totaled $3,490,000. Youth Hospital Care and Patients in Need with ZHC, Action Against Hunger, and Ocean Cleanup are among the initiatives funded.
To reassure potential investors, BSCScan has an open-source contract and has passed a Certik audit. Certik gave a high rating of 88% secure with no significant issues.
Centralization was a major problem Certik highlighted, that one address might accumulate a lot of LP tokens. The Elongate team solved it.
Elongate and The Giving Block established a collaboration. Elongate has contributed to great organizations with The Giving Block and worked with their partners to promote charity crypto adoption.
For a future where every girl can study and lead, Elongate completed a seed contribution to the Malala Fund. This is why Malala and Ziauddin Yousafzai established the Malala Fund in 2013. The fund’s board, leadership council, staff, and advocates ensure all girls can attend school. Malala Fund invests in education advocates and activists that challenge anti-girl laws and practices.
Its action includes interviewing Kimbal Musk and donating to the EB Research Partnership. Elongate launched its first major exchange, BitMart, and later LBank.
Elongate has helped the Human Relief Foundation and Give India raise $2 million. The latter is a Covid-19 relief effort in South Asia after a catastrophic outbreak.
It donated $150,000 to the National Kidney Foundation as per their weekly donations scheme. The National Kidney Foundation’s passion and purpose are to provide a lifeline for all kidney disease patients. NKF is a leader in scientific research and innovation that helps concentrate on the patient.
Elongate also plans to launch the world’s first charity-focused exchange, the Elongate charitable-impact wallet, as well as NFT campaigns by the second quarter of 2021. The team is set to unveil a new Elongate website, NFTs, and apparel. The store will give 80% of all sales to charity.
Original Source: https://bitcoinist.com/elongate-charity-driven-cryptocurrency-aimed-to-contribute-towards-society/
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.