Community Update 4/2/21

2 min readApr 2, 2021

ElonGate Community,

Our core values are Charity, Clarity, Community, and Sustainability. With these in mind, we are excited to share some of what we’ve been working on behind the scenes.

Highlight: Recent Press and Hype

Bob Menery is an absolute force to be reckoned with, and we got a shoutout on his Instagram:

Charity and Token-Burn Roadmap

On Sunday (4/4) we will have our first Charity Burn Party: we’ll donate to charity AND burn tokens to celebrate! Charity Burn Parties will happen every other sunday!

As you know, 5% of outgoing transactions are transferred as LP Tokens to the Pancakeswap Liquidity Pool.

Charity Burn Party Breakdown

60% of the newly accumulated LP Tokens (the 5% fee) over a 2-week cycle will be removed from the Pancakeswap Liquidity Pool: half are BNB, half are ElonGate.

67% -> Charity
20% -> Marketing fund
13% -> Business & Logistics fund

67% -> burn
33% -> Community Giveaways fund (meme contests, TikTok competitions, etc)

It is our goal to sustain the growth of our LP-Tokens, so we will never go above the ratio of 3/5 taken out of the Liquidity Pool.

We have created four wallets to manage transparent funds moving forward.
Funds from the Charity Burn Parties will be moved in as outlined above. We invite our community members to make additional contributions on areas that they would like to further support.

Community Charity Fund
Community sourcing of funds for our bi-weekly charity donations. In the future, we want ElonGate holders to vote on which charity the funds are donated based on the voting results.

Community Marketing Fund
Community sourcing of funds for marketing initiatives and exposure.

Community Business & Logistics Fund
Community sourcing of funds to evolve our movement, such as expanded e-commerce infrastructure, new listings, and other funding related to growth of our movement.

Community Giveaways Fund
No need for you to contribute to this, as this is for us to give back to you!

We are also excited to announce that we are hosting a Leadership AMA in our Discord, Saturday 2200 CET / 4PM EST.

See you there!




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