The Eloncity blockchain network is ensuring to the power supply without any cost. It decentralizes the power infrastructure into millions of self-sufficient microgrids producing the energy locally and making this available directly through the competitive utilities for 24/7. They are utilizing the power supply by making the energy price transparent to all so that people can use the open technologies of Eloncity generating the electricity with cleaner energy and electrify the world virtually free.
Eloncity Tokens or ECT
The Eloncity Tokens or ECT facilitates the open market enabling the communities around the world by the exchange of energy and shared resources locally to access the unified networks in renewable energy products and solutions. The utility token also facilitates the energy by the exchange of ECTP microgrid that is compliant to the microgrid among the adjacent to the Eloncity microgrid. The ECT tokens will work with two primary components or functions; such as:
The medium of Exchange: A medium of exchange lies on the Eloncity network where ECT is being used for the exchange of energy. In this certain position, the supply and demand positions are regulated by the short-term energy price and it may vary by the fluctuation in ECT. This will be used by the community members for using the ECTs in access to the local electricity services with ECTP compliant to the products like POMCube NetZero.
Store of Value: A store of value for every ECTP is compliant to the BESS devices as it is required to have the reserve for sufficient amount of ECT. It is because it is equivalent to the value of the electricity capacity as it will have the participation in automation of exchange. This will make the ECT a store with the value and it is backed by the value of electricity. This value will be added to the ECT determining the total number of energy as the transaction volume of the ecosystem and velocity of the ECT transactions. This will have the exchange in reserving the requirements with the limit for the velocity of monetary value that will also initiate values to the ECT by producing the stable token system. This will have the exchange the value by the equation as it is formulated through Bordo 1987.
ICO Details
• Type: ERC20 – Utility
• Symbol: ECT
• Platform: Ethereum
• Minimum Investment: 0.1 ETH
• Maximum investment in the public sale: 3 Eth
• Soft Cap: $ 10 million
• Hard Cap: $33 million
• Payments Accepted: ETH and BTC
• Restricted from Participating: USA, China, New Zealand, and anyone who is a citizen or resident in a geographic area sanctioned by the USA as well as anyone subject to USA and/or United Nations sanctions
Private sale : $19,000,000
Vesting period: 9-months locking position with 10% of token discharged in the meantime as the principle token discharge (six a month and a half after the finish of the fundamental commitment). From that point, 10% token discharged every month in 9 back to back stages.
Public token sale
• ICO Token Price: 1 ECT = 0.12 USD
• Fundraising Goal: 33,000,000 USD
• Total Tokens: 1,000,000,000
• Available for Token Sale: 32%
Project Eloncity is a project related to the power industry and addresses a lot of issues which can be found in modern centralized AC power systems. Due to the promising concept and reliable features, this project was able to win the trust of a lot of people as a rising new project and is now one of the major considerations of investors who are looking at ico's. So if you were following my articles about project Eloncity you can remember I described all most all the aspects of project referring to its whitepaper in last article and hope now you got a very good understanding of the project and its features.
Calculation Process
ECT is proposed with a specific calculation process with some specific components involvement. The component M defines the size of the asset base and it is valued with USD representing the tokens. V is the velocity of the asset which has the monetary velocity for M1 all around the 5.1. It depends on the choice for M1 velocity since M1 has the monetary supply consisting of the cash exchange as it is the most similar one to the ECT. The price for the digital service is defined with P and Q defines the quantity for the digital service by the case on combined products of PQ as the GDP as the total for the transactions into the network.
Elocity tokens are activated as a utility with some key functions facilitating the local energy in exchange for power and other resources. This will incentivize the investment process through ECTP compliant to the BESS rewarding the operator by the ownership storing the newly harvested renewable energy in creating BESS to the open global marketplace enabling the communities all around the world in access to the advanced renewable energy products and services with ECT.
Website: https://eloncity.io/
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