AMA with Elon Peg

• Introduction with Elon Peg

Riswan Rasheed:
Q1. Please introduce yourself

Steve | Will never DM you first:
Sure thing. My name is Steve, and I'm one of three founders of ELONPEG (the other two are Sammy and Sam, you can see us on our website at https://www.elonpeg.com)

I've been in Information technology for 24 years, and am a VP at a Silicon Valley software startup. I've also been in crypto since 2012, and have been through all the crashes, hype seasons, etc.

I'm passionate about security, blockchain development, and the future of the blockchain space!

Riswan Rasheed:
Nice! Great sf introduction👍

Q2) Can you tell us briefly about Elonpeg and when did you guys started working on it?

Steve | Will never DM you first:
Absolutely!

Steve | Will never DM you first:
I'm sure everyone here remembers "The Tweet"

That was when Elon said Tesla was breaking up with Bitcoin.

The markets went nuts, BTC dropped like it hasn't in a while, and it's been kind of painful for every side chain, alt chain, etc.

BNB obviously took a big hit too, which hurt the Binance Smart Chain.

Riswan Rasheed:
Yes 🥺

Steve | Will never DM you first:
So on May 17th I had an idea that I shared with my cofounders: what if we created a token that was pegged to Elon's tweets? Every time he tweets, retweets, or replies, it burns supply?

So we created that on the Binance Smart Chain, ELONPEG has a special Vault contract that was initially loaded with half the supply. Every time Elon tweets, 0.5% is automatically burned, and generates reflections for our holders.

So far, Elon has personally burned about 225 billion ELONPEG in >145 tweets.

Riswan Rasheed:
Woww!! That's a good idea😀

Great👍👍👍

Q3) . How does a coin pegged to a human being work? How will it react to Elon's social media actions ?

Steve | Will never DM you first:
Great question! Right into the keys of the coin 🙂

So in the world of crypto, Pegging is when you synchronize or tie an on-chain currency with something else. Usually another coin in another blockchain, or a real-world asset.

Just like Tether is tied to the US Dollar.

For ELONPEG, we pegged Elon. That means we created a deflationary token, which is designed to burn (deflate) to adjust price based on some input.

In this case, we're using a framework of APIs that poll Twitter continuously for new ELON tweets, and burn supply as a result.

We then report the burn on Telegram and Twitter.

🔥 Thanks for the money, Elon! This tweet just burned 1,165,142,650 ELONPEG! 🔥

View on BSCScan: https://bscscan.com/tx/0x9fcfebdc4910cf0a3b757228501a3f0cb15f9340a59b43e9a142fbf31ddeb0d5 ‌‌

Just like that 😄

The tweet information is also placed in the burn transaction logs for full on-chain transparency.

Riswan Rasheed:
detailed answer👏

Steve | Will never DM you first:
Always 😉

Riswan Rasheed:
Q4. Why is it important for us to acquire and hold the $ELONPEG token? How do you make sure it increases in value ?

Steve | Will never DM you first:
Well, as we all know there's no surefire way to make sure a coin or token always increases.

Even EverRise, the new trend in the Binance Smart Chain, was not able to avoid their 50+% drop.

But we do have some great things going for us:

1. The founding team. Between myself, Sam, and Sammy, we have over 50 years experience in IT, law, User Experience design, and Psychology. It's an amazing team and we're incredibly active on this project.

2. Our technology reach and vision. We've got an amazing product already that is fun and profitable. At the same time, our vision for the future is key (and I'm sure we'll talk about that more soon)

3. Back to expertise: we've all been part of long term projects and understand the security needs, marketing needs, and everything else to run a highly successful token. We've got a great following of supporters across the BSC.

Riswan Rasheed:
Yes I'm here. I'm just reading that

Steve | Will never DM you first:
Haha sorry! 🤗

Riswan Rasheed:
Well done
WE will see a good future 🚀🚀🚀

Steve | Will never DM you first:
Absolutely. AND the markets will recover!

Alt season is still to come!

Riswan Rasheed:
Yes 👌💪

• Community ask questions from Twitter :

Riswan Rasheed:
Q1) Could you explain some of the Recent Major achievements of ElONPEG , partnerships and long-term plans?

@Kadhi71993770

Steve | Will never DM you first:
Yep absolutely. We only launched on June 3rd (20 days ago). We had a 600BNB presale which sold out in 10 minutes (2BNB personal maximum). At launch, we opened with a really great upward momentum, a really strong opening unlike many I've seen.

We were confirmed on CoinGecko in 8 days (still waiting on CoinMarketCap)

But my favorite part is that on day 1, our technology for burns was ready.

Shortly after going live, Elon tweeted

Everyone in the chat was waiting for it to get picked up 😄

It took a couple minutes, then suddenly BAM, big burn notification thanks to an Elon tweet.

Our technology is made up of different pieces and our automatic contract functions. It was amazing to see that come through on the blockchain and TG.

Shortly after, we added reporting on Twitter as well.

Since then we've partnered with other token devs to do challenges and open up discussions on future products we hope to tackle.

Another achievement I'm proud of is that at only 12 days old, we made #4 on the Satoshi Street Bets Moonshot Monday.

It's been an amazing time with a great community, which I hope to go into a bit in other questions.

Thanks for the great question!

Riswan Rasheed:
👍nice. Community take your time to read

Q2) What is your strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally? What services do you provide to the community?

@Boomis56893323

Steve | Will never DM you first:
Another great question. Community is at the center of everything we do. That's why report back the burns to the community. Everyone gets into it.

I don't know about you, but every time Elon tweets I would get worried 😂

About what it was going to do to the charts.

But now, we all get incredibly excited, share GIFs, party it up, it's fun actually looking forward to an Elon tweet.

For the power of community, it's vital. We have done several videos for other languages and hope to do more. German, Turkish, and hoping to do more for our French, Arabic, Chinese, etc. communities.

Riswan Rasheed:
Ok our last question is..

Q3) Can you tell us the security features you have in place to protect users Also, what do you think about projects being attacked and drained of assets despite being audited, what else should be done to ensure security?

@LpThppor

Steve | Will never DM you first:
This is one of my favorite questions, and thank you @lpthppor for asking about the 'hack attacks' as well.

We take security incredibly seriously.

Both our token contract and the Vault contract were audited BEFORE release. We went through 3 iterations with the auditors.

All of our wallets, the contracts, all contract interactions are done from a hardware wallet.

So you'll never hear about a dev losing their phone at the train station and the funds being gone.

These hack attacks are horrible. To me, they either mean 1) the dev is lying and is running off with the money, or 2) the dev is incompetent, and is not taking care to secure their computers and their token.

It's sad that it should be that way, but there are too many tokens being run off of the dev or marketing manager's personal phone or unsecured computer.

We're extremely conscious of this and take great care to be transparent and secure at all times.

Riswan Rasheed:
Thanks for the wonderfully detailed answers😄

Steve | Will never DM you first:
It should always be the way. Our investors count on us and deserve full, detailed answers!

Riswan Rasheed:
Great👏

• Community ask questions from Website :

Riswan Rasheed:
Q1) Which are the most significant features in your platform that will intrigue users towards it ?

Danishl

Steve | Will never DM you first:
Nice! Right now, the most significant feature is the promise of what we're creating. Elon burns, you earn. It's a simple message.

And it's amazing getting paid by Elon.

It's why we love pegging Elon. So hard.

😄

But beyond that, the idea behind it is part of a strategic vision.

We chose Elon for this because of what his tweet did to the markets. And because he is constantly tweeting, 7 times a day on average.

But the idea of pegging the value of a currency to an influencer is an incredible chance to see how tokenomics based on real world actions can work.

What about tokens pegged to climate, world politics, national happiness? There's so many possibilities that we're here to prove out.

We have data analysts, tokenomics pros, and many others in our chat and love to do forecasting and analysis based on it.

Also as a quick note, we are working on a refresh of our site details, Whitepaper, and roadmap in the next couple weeks. We have some amazing projects in the works for the immediate future.

Riswan Rasheed:
Q2) Who are your strategic investors? And what will your Roadmap for 2022 look like? What is your ultimate goal for this year?

siraaj

Steve | Will never DM you first:
All three founders have put their personal time and capital into building this. At this time, our community and ourselves are the investors and builders of this project. We'll be evaluating further opportunities for investors in the future as we build our project out further.

Our roadmap includes a number of components we're very much excited for:

1. Staking, gaming, and speculation. We're hoping to tie more chances to earn to social media (not just Elon tweets), provide a chance to earn passive income and go beyond that with guessing on social media and industry actions.

2. Since we are using Twitter information in order to power our tokenomics, we plan to get more involved in design and development of On Chain Oracles (similar to LINK). Specifically around social media would be a start.

Our ultimate goal this year is to maintain stable growth, keep the Vault generating reasonable amounts of burn, and to release our staking and speculation platform.

Riswan Rasheed:
To the mooon 🚀🚀🚀🚀

Q3) Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?

jogger

Steve | Will never DM you first:
Yes absolutely!

Steve | Will never DM you first:
We began with 1 Trillion tokens. It will never go higher than this. There is no mint function in our contract. It's fully verified so you can see for yourself.

For every transaction (buy/sell/transfer) there is a 9% tax: 3% to liquidity, 3% to marketing, and 3% to holders based on their stake.

Burning happens as long as Elon is tweeting. Every tweet burns off 0.5% of our Vault.

The marketing wallet is used for marketing, events, contests, challenges

We also use it to refill the Vault for burning from time to time. We did this recently when Elon changed his name on Twitter to Elon Musk, the 2nd.

You can expect some more fun for his 50th birthday coming up 😉

One other goal I'd like to mention: we are passionate about scientific research into reducing carbon and the effects on our environment.

We have pledged to make monthly carbon offsetting payments, and hope to get to the point where Elon tweets are also directly going to carbon offsetting.

Riswan Rasheed:
You shared interesting things😀😀👏

Steve | Will never DM you first:
Thanks! You can tell we're incredibly interested in and ready to grow the blockchain influence in the world.

• Live Questions answered by Elon Peg :

1.

O'like:
How experienced and doxxed is Elon pegs team??

And ''what's gonna happen'' when Elon notices this token??

Steve | Will never DM you first:
I spoke to our experience early. I've been in IT for over 24 years. Sam, another founder, has a law background and is a User Experience leader for a Manhattan media company. Sammy is a Doctor of Psychiatry. It's a great combination of IT and real world skills for a successful token.

When Elon notices? I can't wait. We're hoping for it, and try to engage in good conversation and activity to attract that attention. I'd LOVE for him to tweet more just to blow our coin through the roof!

2.

Liam Noah:
There are lots of pump and dump project in the market. How is your project different than others? What are your plans for project sustainable long term growth?????💘
#ELONPEG

Steve | Will never DM you first:
Great question. We've all been victims of pump and dumps and rugpulls. It's a horrible feeling to get dumped on or scammed. Our team comes from a prior well known project, Fox Finance, which is a trusted and long term project as well. Additionally, we're legally formed as a USA LLC to provide security for ourselves and our investors. We've also undergone legal review to ensure we're operating in the fullest extent of law, again for the safety of our investors and ourselves.

We have forward vision, an innovative deflation plan, and talented people on the team and among our investors. It's a wonderful combination.

3.

Tinh Le:
In cryptocurrency trading, be it CeFi or DeFi, liquidity is still the key to a project's success. So how does ELONPEG address the platform's liquidity problem?

Steve | Will never DM you first:
Our token automatically distributes 3% of every transaction to liquidity. At present, our liquidity backs 30% of our marketcap. 80% of our liquidity was locked at presale, and we lock ongoing liquidity generated on a quarter by quarter basis in perpetuity.

4.

Aurellia:
Can you explain about the $ELONPEG Network? And can you tell us a little bit Is your project fully decentralized? and will there be a risk of centralization in the future?

Steve | Will never DM you first:
Elonpeg operates on the Binance Smart Chain, which is a mostly decentralized network (though Binance is a centralized organization). It's probable that we'll eventually end up on a CEX (Centralized Exchange), though right now we are working on strengthening our decentralized core.

The project itself will always remain decentralized. I feel very strongly about the power of the blockchain for building a more decentralized world. Right now we constantly reach out to our community for feedback and do many AMAs and voice chats constantly for full transparency. At some point, we'd like to allow the token to operate as a DAO, but that is going to be a while so we can ensure the success of building the token and its products.

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