Prism Crypto LLC, the US-based company behind ElonPeg, has stated that these plans are part of the ElonPeg mission to tie social-media events to tokenomics. Though the token was founded with the named connection to Elon, the purpose behind that connection was to balance the effect of social media events on token demand by introducing an automated, on-chain verifiable means of reducing supply. This deflationary mechanism has been wildly successful thus far, with 45% of the total token supply being ‘burned’ solely by tweets to date, and more tokens being added to the Vault every day.
The company also plans to introduce professional, industry-leader backed projects around blockchain education that tie in with ElonPeg and provide the first true online academy for blockchain safety, security, analysis, and technology.
What do we need to know about ElonPeg?
ELONPEG is the first ever Crypto currency automatically pegged to real time social media events. Rather than sit around with trepidation waiting on what market distorting tweets might be coming out today, we decided to hedge against this by building game-changing integrations to monitor Twitter for every tweet, retweet, or reply from the one and only Elon. Tweets result in massive supply burn with verifiable on-chain and social-media record keeping. Every tweet, every retweet, every reply, every time.
- Massive volume growth plan currently underway including publications, YouTube reviews, podcasts, exchange listing, and more. Check out the Project MESA video for more details from our founder and lead dev Steve.
- Development budget secured with active headhunting for an extended, experienced team to create prediction markets, education resources, and more, also described in the Project MESA video.
- 600BNB hard cap (2BNB max buy-in) dxSale presale sold out in 10 minutes! Liquidity locked for 1 year.
- Listed on CoinMarketCap and CoinGecko
- 9% tax on every transaction: 3% to holders, 3% to liquidity, 3% to marketing, events, and carbon offsetting.
- 1 Trillion total supply, 50% deposited into the smart-contract Vault at launch.
Explain this “Vault” and the meaning of “Peg” in the name
The “BurnUponTweeting” contract (audited along with the token) which is called the Vault started with half the total supply. Every time Elon tweets, the function ElonTweeted(tweetId) is called, burning 0.3% (adjustable) of the Burn Vault supply. New tokens have been allocated to the Vault since launch from the Marketing wallet, reflections, and buyback-and-burn programs. The Vault remains in circulation thanks to innovative reflection and reclaim functions, all contract-enabled based on Elon’s tweets.
Image source: https://imgur.com/a/kkOvHOq
Every Elon tweet, retweet, or reply is picked up within minutes, kicking off a fully automated process that burns the required amount, distributes reflections to holders, stores the tweet ID in the burn transaction record, and sends alerts to the Telegram channel and Twitter.
How safe is ElonPeg?
As always, the crypto world and the BSC can be fraught with scams and honeypots. Do your own research, take a moment to chat with the team in Telegram, whatever you need to feel comfortable. The team is highly responsive and extremely helpful and knowledgeable and the Telegram is very lively.
With more than 4000 holders, ELONPEG does take security seriously. All contracts and the dev/marketing wallet have been created from a Ledger hardware wallet. The Vault contract was created to ensure half the supply is available and remains in circulation, but not in an untrusted, unlocked wallet. The team have run through countless tests on Testnet and revisions with auditors to ensure everything is exactly as it should be for the presale, launch, and a successful future.
Okay I’m sold! What of the roadmap and growth plans?
Launched with a working product in the form of an automated smart contract bound to events on social media, the project has already started to attract more and more active crypto enthusiasts.
With a recently updated roadmap, the ElonPeg team is working to develop a brand new take on staking with its gamified prediction platform that is built around innovative social media pegged pools to “pledge” their BEP20 token against certain predicted outcomes in exchange for multipliers of reflection rewards.
Right now the ElonPeg token is available for exchange on Pancakeswap. You can add it to your watchlist at CoinMarketCap or Coingecko. The ElonPeg team recently announced “Project MESA” to discuss the updated roadmap and short to medium term development of the project in the current market
ElonPeg and Project MESA – Make ElonPeg Sexy Again
- Website: https://elonpeg.com/
- Telegram: https://t.me/elonpeg
- Twitter: https://twitter.com/elonpeg
- Instagram: https://instagram.com/elon.peg
