What is Elongate ($EG) Crypto?

Elongate ($EG) is a new cryptocurrency built on the Binance Smart Chain. Founded in 2021, Elongate is currently governed by Hasan Aziz as its Chief Operations Officer and Alexander Gambon as its Chief Brand Officer. 

The Elongate project stands on four pillars, namely community, charity, clarity, and long-term viability. Elongate serves investors with products like Salesforce Crypto Lightning Exchange, Burnparty, EG Swap, and Gator Gang NFT. In this article, you will read in detail about this cryptocurrency. 

More About $EG Token

$EG is the native token of the Elongate ecosystem. The token is built on the Binance Smart Chain and has a total supply of 6 billion. The following are the features of the $EG token.

• No Lopsided Liquidity: You cannot add liquidity to the tokens without aiding token burning, as this will disrupt the balance. To counter liquidity dumps, liquidity providers are encouraged to pay the gas fees by piggybacking on their Buy/Sell transactions.
• No Reflections: Elongate does not support reflections, which is the process of rewarding token holders with a portion of the transaction fees. With no reflections, the taxes are very low for $EG tokens.
• No Secrets: $EG is a community token, and the community members control the token distribution and other aspects. Every aspect of the token is available to the community.
• No Centralized LP Token Holding: The developers or a centralized authority do not have any say in the tokens in the liquidity pool. That means they cannot withdraw the LP tokens all of a sudden.
• Open Source: The Elongate project is publicly accessible, allowing anyone to contribute to and modify the code. 
• No Auto Burns: Since the total supply of $EG tokens is fixed at 6 billion, there is no possibility of auto-burns occurring. Token burns are conducted manually after analyzing the market conditions. 

What is EG Swap?

EG Swap is Elongate’s native decentralized exchange. On this exchange, you can trade any token that is compatible with the EVM chain. This DEX gives cashbacks where you can share the revenue from the trading fees of the projects that you have listed on this exchange. 

The EGSmartRouter on the EG Swap searches various DeFi pools and gets the best prices in the market for your listed tokens. The EGSmartRouter has several benefits: it automatically directs you to the cheapest price, gives you MEV Bot protection on every transaction, optimizes gas fees, and gives you revenue share from each trade. 

The main elements of the EG Swap ecosystem are as follows:

• Swap: You can trade any tokens built on the BSC or Ethereum chain.
• Liquidity: When you add to the liquidity pool, you get trading fees from every swap action.
• EGSpectre: EGSpectre bridges different chains and enables you to conduct private transactions.
• Buy Crypto: You can buy crypto on the EG Swap with credit or debit cards using EGRamp. 

EG’s Social Impact

The Elongate ecosystem was designed to promote social impact with special focus on sustainable development goals such as ending poverty, providing good health, quality education, gender equality, clean energy, and the like. The Blockchain Alliance for Global Good integrates blockchain technology users and cryptocurrency projects to align together for global good by providing the best social impact. 

Through EG’s social impact portal, organizations get the essential tools and support to uplift society. The Elongate project has spent $3,705,839 to support social impact. 

The Bottom Line

A clear picture of the price of $EG tokens is yet to emerge. However, if its price grows as anticipated by its developers, $EG tokens would be a worthy investment in the future. Its major use case is to fund charity and create a worthy social impact. In the future, $EG tokens are likely to become the best investment option for crypto enthusiasts. 

However, these tokens are relatively new and highly speculative and have yet to start trading on large exchanges. As with any other cryptocurrency, $EG tokens are also liable to market risks. So before investing, you should thoroughly analyze the market to avoid all kinds of loss. 

Frequently Asked Questions (FAQs)