Coin of the Week 5

Echelon DAO

https://echelondao.com

           

While we’ve audited and reviewed this coin and believe it aligns with our goals and ambitions of coin of the week, this does not constitute financial advice and you are strongly encouraged to do your own research.
The PIXL Team

USECASE:

Echelon is a decentralized autonomous organization (DAO) that is governed by smart contracts, fixed protocols and community votes on the Binance Smart Chain (BSC). All decisions made in or by the Echelon DAO will first be proposed and voted on by the Echelon DAO board members (community token holders) and then implemented by the Echelon development team.

ECHO is a utility token distributed to the community through the Echelon DAO. By holding at least 21 ECHO, you are eligible to vote on the products developed by Echelon DAO. Furthermore, ECHO will be integrated into our products, promoting the HODLing thereof.


The aim of Echelon DAO is to create a sustainable platform from which community voted products are developed and launched. Echelon DAO’s first product is EchoSwap (
https://echoswap.app ), an innovative pancakeswap fork with unique features to distinguish it from the current BSC DEXs out there. One such feature is leveraged staking.

 

Echelon DAO is not limited to one product but is continually developing and launching new products that the DAO represents.

TOKENOMICS

Token name: ECHO

Initial/Max supply:
2.1mil

Total/current supply: 2.07 mil

Circulating supply (time of writing this): 777,314 ECHO

ECHO has no minting function, only a burning function. The reason for this is to increase the demand for ECHO overtime through deflationary burning of ECHO.

The token is divided into three main wallets:
– the Dev supply (400k),
– DAO supply (500k) and
– Public supply (1.2m)

The 90% of the Dev supply is currently locked. This is used to fund development and administration costs.

Token ID: 
0x6aaa14929d74b8533343c1a5b6e42443f59b6f6f

DOXXED

NO

AUDIT

1. https://t.co/XMWSd1nnpV?amp=1

100% of the DAO wallet is currently locked.
The DAO wallet is NOT the team wallet.
We have had confusions about this.

The DAO wallet is owned by the DAO itself, meaning that, once the our voting portal has been fully developed, it will be locked behind the voting portal.

These funds are reserved for anything the DAO votes for and sees fit. This could be future liquidity provisions, necessary for products, even burned if the vote passes.