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.

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