ELONGATE is a BEP-20 token on the Binance Smart Chain, with possible gateways to ERC-20 and other blockchain networks in the works. BEP-20 is a regular currency operating on the Binance smart chain.The goal of ELONGATE is to create a breakthrough social impact network based on blockchain technology. The platform also aims to develop a mass network that disrupts the current system and makes revenue organically connected to good social impact by combining community action with blockchain technology.
The ELONGATE network comprises numerous products that support the platform in making a positive social effect and changing the world for the better. SPARK, Crypto Lightning Exchange, and other products are among them. SPARK is a DeFi-based engage-to-earn social media platform where content that brings positive change in society earns higher incentives. Crypto Lightning Exchange features enterprise wallet management and a KPI (Key Performance indicator) dashboard integrated into Salesforce, allowing corporate customers to utilize the transfer of any cryptocurrency in their present trading process.
The whitepaper states that to provide an added layer of security on the ELONGATE token pool, the Gnosis Safe Multisig platform is installed by the network. The Gnosis Safe Multisig is a smart contract wallet that needs a minimal number of individuals to authorize a trade before it can take place.
EG is the native token for ELONGATE. EG is considered the charitable powerhouse of the future, creating a DeFi social media revolution. ELONGATE's initial token liquidity pool was secured using DxSale's DeFi Launch Certified Liquidity Locker, assuring the stability and privacy of the network. Liquidity pools are the crypto assets locked inside a smart contract.
ELONGATE raises funds for social impact through LP (liquidity pool) pulls, but there are plenty of other ways to make donations and educate people for charitable causes. To elaborate, ELONGATE offers commodities and clothing directly to consumers and once operating costs are covered, 80 percent of the remaining earnings are contributed to charitable works. The network also established the Blockchain Alliance for Global Good to bring blockchain and cryptocurrency businesses together to encourage fundamental and continuous impact on society and transform the world through cooperative ventures.
