What is Elivate Token?
Elivate Token (ELI) is a cryptocurrency featuring a pay-to-mint and burn-on-sale mechanism. Unlike traditional tokens with pre-minted supply or external liquidity pools, ELI is minted by users only upon purchase and burned upon sale.
The Elivate smart contract maintains an internal USDC buffer that fully backs the total supply of ELI tokens, autonomously managing purchases and redemptions. Instead of using the constant product formula seen in decentralized exchanges, ELI’s price is determined by a global token formula contained within its smart contract, ensuring price movements reflect system-wide liquidity rather than localized market fluctuations.
Additionally, each buy and sell transaction adjusts the token price dynamically by factoring in the impact of individual user transactions. This demand-driven pricing mechanism results in each mint and burn transaction raising the token’s price, making ELI inherently deflationary despite its infinite supply.
This self-regulating economic model promotes stability, decentralized transactions, and long-term usability. Users can store value, exchange goods and services, and integrate ELI into digital ecosystems.
