ElonPeg

ElonPeg

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ElonPeg introduces a new financial model for the now-common deflationary token: automated burning anchored to the Twitter account of the one and only Elon. Our system is unique and combines external If-This-Then-That style API calls to regularly sift Twitter, highly secure serverless computing resources to accept blockchain requests, and a unique BurnUponTweeting contract to transparently record on tweet. Elon's tweets have been known to cause market volatility, trending both up and down. With every tweet, retweet, and reply, the BurnUponTweeting contract will automatically send 0.5% of your supply to burn, rewarding headlines with highlights, deflating supply, and contributing to liquidity, all at the same time! Each recording also records the tweet ID in the transaction event log, for maximum on-chain transparency. With its 9% fees (3% for holders, 3% for liquidity, 3% for marketing, events and carbon offsetting) and automated deflation method, ElonPeg is the first Elon-pegged crypto token and hedge (or push! ) for Elon volatility. -Induce tweets. Launched June 3, 2021 on Binance Smart Chain by Prism Crypto LLC, a US-based company with three founding members (2 in the US, 1 in England) who have been instrumental contributors/developers from other successful Binance Smart Chain projects. ELONPEG is an experimental tokenomics and social media project, using the concept of social media influence on Twitter to influence token value and holder trust through deflation and automated reflections of Elon's tweets. Although the token is currently focused on Elon, the vision for the future is strong with capabilities for other hedging/pegging mechanisms based on consistent and commonly available data. The founders are committed to improving our environment and are committed to using ELONPEG to further reduce carbon emissions through monthly offset payments and potential future research.