What is the issuance and circulation of ELON coins?

ELON coin's genesis supply was 1 quadrillion, but 50% was burned at launch, creating a decreasing supply-to-circulation ratio over time due to staking rewards and community initiatives.

Oct 06, 2024 at 05:35 am

Elongate (ELON) Coin: Issuance and Circulation

1. Issuance:

• ELON was launched as a BEP-20 token on the Binance Smart Chain (BSC) on April 28, 2021.
• A total supply of 1 quadrillion (1,000,000,000,000,000) ELON tokens was created at genesis.
• 50% (500 trillion) of the tokens were burned immediately, significantly reducing the initial supply.

2. Circulation:

• As of July 17, 2023, there are approximately 293 trillion ELON tokens in circulation.
• The circulating supply gradually increases over time due to rewards distributed through staking and other mechanisms.
• The percentage of burned tokens remains constant, ensuring a decreasing ratio of circulating to total supply.

3. Market Cap and Tokenomics:

• The market capitalization of ELON is determined by multiplying the circulating supply by the current market price.
• The tokenomics of ELON are designed to balance circulation and value appreciation through burn mechanisms and community incentives.
• A 10% tax is levied on all transactions, with a portion burned and the rest distributed to stakers.

4. Charitable Initiatives:

• A portion of ELON's revenue is dedicated to charitable causes.
• The community-driven protocol has made significant donations to non-profit organizations worldwide.

5. Investment Considerations:

• ELON is a volatile asset, and investors should exercise caution before investing.
• The tokenomics and future roadmap play a significant role in determining its long-term value.
• Potential investors should research and understand the project before making any decisions.