At a time when the whole world is on their toes, finding ways to curb the menace caused by the burning fossil fuels. The quest to shift to alternative energy sources is an increasingly dream of majority of people and everyone who is cognizant of effects of climate change on the environment and the health implications of storing and burning fossil fuel for power generation. It’s not strange to see that in a short period Eloncity has been able to attract a large community of followers who have found the project promising and vital not just to the crypto community but to the world at large.
Eloncity Project
Eloncity is pushing to power the world for FREE, yea you heard right. Imagine a world where the bulk of energy generation and distribution are no longer controlled by centralised power infrastructures instead, people can generate and store energy on their own. Eloncity aims to achieve this by decentralising the current power infrastructure into millions of self sufficient micro grids. As a result energy will be locally produced and available at all times of the day. Developers will be able to use the wide range of Eloncity technologies to create and store clean energy and make energy virtually free. Eloncity also provides a marketplace for individuals to trade their excess energy to other users on the network at a fee. A shift to eco-friendly energy generation will positively impact the environment. Decentralising power infrastructure into millions of micro grids will ultimately reduce the cost of electricity, people will not only have access to electricity but importantly access to clean electricity.
ICO
In order to effectively power this revolution and provide the necessary infrastructure that will provide clean, affordable, efficient energy to every household, Eloncity has begun a process of Initial Coin Offering (ICO) to enable it raise the needed funds. The ICO will be in different stages and currently it is in the Private Sale stage.
The private sale is open to investors from all works of life apart from those who are residents of China and America. In order to take part in the private sale, investors are to create an account at the official Eloncity website. Eloncity has employed the services of a reliable blockchain platform, Tokeneed, to oversee the ICO process. Investors will have to create a Tokeneed account and undergo the KYC process. Once KYC has been verified, Investors will be able to take part in the ongoing sale. The private sale will be maxed out after $19,000,000 has been raised. 1 ECT Token is priced at $9.8 ECT at a 15% discount, contributions in BTC and ETH are accepted. Minimum contribution during the private sale is equivalent of $200,000 in BTC or ETH and the maximum contribution is $600,000.
The Public sale will start after the end of the private sale, although the date is yet to be announced but be rest assured it will be made public through the various communication channels.
ECT Token
The official currency of the Eloncity ecosystem is the ECT token, it is an utility token based on the Ethereum Blockchain. It will provide holders with access to the various services offered on the Eloncity platform. It’s usage not limited to exchange of energy between users who trade their surplus energy among other peers in the platform. It will also act as a store of value, and potentially as a mining reward.
Token Details and Allocation
Token Symbol: ECT
Token Type: ERC 20
Token supply: 1,000,000,000 ECT
Available for ICO: 320,000,000 ECT
Soft cap: $10,000,000
Hard cap: $33,000,000
Mining Allocation: 32%
Team: 7.5%
Eloncity Lab: 14.5%
Marketing: 14%
Conclusion
So far Eloncity has received investment from many crypto groups such as Qingzheng Capital, Fly Fund, JRR Crypto, Interblock Capital and more with each bringing different experiences in energy and cryptocurrency. I highly doubt that the ICO will last longer than necessary with this highly perceived interest and as such interested investors are encouraged to make haste before the tokens are sold out.
Eloncity is providing an opportunity for us to invest into the future and pioneer one of the greatest blockchain based power project. Let’s take opportunity and be part of something big.
Important ICO links
Website: https://eloncity.io
Whitepaper: https://goo.gl/883Fxd
ANN Thread: https://bitcointalk.org/index.php?topic=4465922
Krypital Bounty Group: https://t.me/KrypitalBounty
Eloncity Group: https://t.me/Eloncity
Krypital News: https://t.me/KrypitalNews
My Unique Identification http://eloncity.io/?utm_source=Content&utm_medium=Bounty&utm_campaign=B000680
My Bitcointalk profile https://bitcointalk.org/index.php?action=profile;u=2193404