Non-profit blockchain project ELONGATE

We’re used to seeing dozens of blockchain projects every year. However, most of them are commercial as they offer their unique solutions to different sectors and industries and aim to make a profit. There are also cases of blockchain-based initiatives that are purely non-profit.

ELONGATE is one of the prime examples of such projects. The non-profit blockchain project ELONGATE was launched as a joke, it has become a sensation in the crypto world as a leading blockchain charity. ELONGATE recently partnered with the Malala Foundation, which is committed to promoting girls’ right to free education.

You can donate directly to ELONGATE and Hedera HBAR is one of the perfect cryptocurrencies to donate because of the low fees, high speed and energy saving.

Non-profit blockchain project ELONGATE

ELONGATE originated as a joke by Elon Musk when the billionaire asked the audience to name “ELONGATE” any scandal he was involved in. Inspired by the meme, a group of enthusiasts posted the ELONGATE token on the Binance blockchain with the aim of celebrating internet culture and thereby supporting charity. In principle, ELONGATE enables its community members to contribute their cryptocurrencies to several funds. The Main Fund is a not-for-profit community fund that serves as the primary source for ELONGATE’s donations to charities.

ELONGATE Tokenomics

ELONGATE is the utility token of the project. The coin has a total supply of 1 million billion. This is a BEP-20 token issued on Binance Smart Chain. A fee of 10% is charged for every ELONGATE token transaction. Half of the fee is redistributed to the community of owners. The other is used to add liquidity to the PancakeSwap liquidity pool.

Use cases of ELONGATE

ELONGATE is extremely successful with its philanthropic endeavors. There are a number of charities to which ELONGATE has made significant contributions. For example, ELONGATE donated $ 150,000 to the National Kidney Foundation, which helps people diagnose kidney disease. In addition, ELONGATE donated $ 250,000 to Action Against Hunger and $ 650,000 to the Clean Oceans Project. In total, ELONGATE’s donation totaled over $ 3 million in July 2021.

About the Malala Quỹ Foundation

The Malala Foundation was founded in 2013 by Malala and Ziauddin Yousafzai. Her goal is to make sure that every girl in the world has a chance to go to school. Eight years later, the foundation has reached several milestones and helped thousands of children. The Malala Foundation works in countries like Brazil, Nigeria, Afghanistan, Ethiopia and many more. The fund invests in local educators and athletes through its Education Champion Network. The foundation runs campaigns to ensure all girls change resources and policies to go to high school. The Malala Foundation also has a digital publication and newsletter called Assembly where girls share their own experiences and opinions.

Hedera Hashgraph (HBAR) is the perfect cryptocurrency to donate to ELONGATE

People can donate to the Malala Foundation directly on their official website as it accepts multiple cryptocurrencies, including Bitcoin and Ethereum. You can also support ELONGATE in their mission to promote their charity by using the ELONGATE token.

You can donate directly to ELONGATE and Hedera HBAR is one of the perfect cryptocurrencies to donate because of the low fees, high speed and energy saving.

There are few cryptocurrencies that are as perfectly positioned in terms of crypto contributions as Hedera’s HBAR. This coin thrives on an innovative blockchain alternative called the Hashgraph, which has several key functions that make it ideal for crypto donations.

speed: The network can process over 10,000 transactions per second, which corresponds to 3-4 seconds in the transaction confirmation interval. As a result, charities that accept HBAR as a donation get their funds instantly and without delay, which is possible on certain blockchains.

Real applications: The network has processed over 1 billion transactions generated by real world applications.

Protect: All transactions are publicly verifiable and immutable.

Low fees: In addition, Hedera charges a small transaction fee of $ 0.0001. This can be a significant benefit for charities because if they accept HBAR they will receive almost all of their donations.

Instant payment: HBAR transactions are processed within 3-5 seconds.

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