Elevato (ELE) token is a decentralized ultra-fast digital currency operating on the stable Ethereum network blockchain. It is the internal currency of the BTC League - an online club of Bitcoin enthusiasts and it is used to teach our new members how to use and trade cryptocurrencies, as well as accepted payment method for access to advanced club products and services.
1. What is BTC League and what is a role of Elevato (ELE)?
In its basic dimension, BTC League is a free online portal that shares a knowledge and information related to the current market situation, interesting ICO/IEO projects and investment opportunities on the blockchain industry. It also facilitates the use of recommendation programs offered by many cryptocurrency exchanges. Our goal is to share also broadly understood education and provide our members with advanced and professional services supporting investment and trading on the cryptocurrency market.
As BTC League we intend to achieve the position of the largest and the strongest Bitcoin enthusiasts community on the Internet, offering our members education, information, cutting edge tools and opportunities to build passive income in the blockchain industry regardless of their previous experience, age and education.
Elevato token will also play both educational and investment roles. By accepting it as a preferred form of payment in the BTC League, we will spread knowledge of blockchain technology, we will teach practical skills of how to efficiently use the cryptocurrency wallets, payment methods, and how to trade on the exchanges using our internal currency.
2. Proof of Stake
Elevato (ELE) token owners can receive quarterly passive bonus income due to long-term storage of the tokens in their ETH wallets. The Proof of Stake reward amount is calculated based on the amount of Elevato tokens held at 0:00 on the last day of the quarter.
Anyone who holds at least 2500 Elevato (ELE) tokens on his/her ETH address and has saved this address in the profile section of BTC League account (a free account can be set up at this address) will receive a quarterly share in the bonus pool that consists of 15% quarterly income net of the BTC League. The amount of the reward will be proportional to the % of tokens held and the total amount held by the group eligible for the payment.
The quarterly bonus will be paid out to the same ETH addresses on which Elevato tokens will be stored, provided that these addresses will be stored in the BTC League database. Token owners who doesn't have an account in the BTC League portal are not eligible for the payment.
3. Token Distribution
The value of 1 Elevato was set at $ 1 at the time of issue.
Total supply: 1 100 000 tokens.
The distribution of the Elevato (ELE) tokens operating in the Ethereum network will be carried out by swaping the old Waves blockchain tokens in a 1:1 ratio. New ELE tokens will be sent only to those users of the BTC League who by July the 30th will store the old Elevato tokens on their Waves wallets and have their addresses stored in the BTC League account profile. Tokens set in buy / sell positions at the Waves DEX exchange will not be taken into account at the time of swap.
The Swap will be carried out between 1 and 7 of August 2019. After the swap any late request will be accepted at 2:1 ratio (2 old tokens : 1 new token).
In order to receive new Elevato (ELE) tokens, the proper ETH address should be saved by the token owner in the BTC League profile section not later than July 30th, 2019 at 23:59 (UTC).
However any interested investor who hasn't got a chance to purchase our Elevato (ELE) tokens in 2018 will be provided an unique opportunity with our very limited IEO campaign starting on the 22nd of July, 2019. 100,000 new Elevato tokens will be offered on the Kanga Exchange IEO platform at: https://kanga.exchange/ieo/ELE with 50% discount.
At the same time 100,000 Elevato tokens will be frozen as a strategic reserve for the company.
On August 1, 2019, Waves tokens will no longer be accepted when paying for VIP subscriptions in the BTC League, and from that day onwards the payments will be accepted only in the new erc20 protocol ELE tokens.
4. Risk Warning & Disclaimers
Cryptocurrency investing or trading involves high risk, and is not suitable for all investors. Before deciding to invest or trade cryptocurrencies, tokens or any other digital asset you should carefully consider your investment objectives, level of experience, and risk appetite. Decisions to participate in token sales, to buy, sell or hold tokens involve risk. If you do not understand or do not agree to these terms, we recommend you not to participate in the Elevato IEO.
Policy Risk: Most countries in the world currently do not have a clear regulatory regime in place for managing ICO/IEO project. As a result, ICO/IEO investors may be filled with various expectations as well as fears of what might come next. As governments introduce or modify their policy towards ICO/IEO project, the market may react with extreme price volatility. ICO/IEO participants may experience significant asset risks due to such extreme price volatility.
Economic Risk: Economic conditions can have direct and indirect effects on the progress of ICO/IEO project development and the management of Ethereum blockchain.
Token Price Volatility Risk: Once Elevato tokens are released into the digital currency exchange for circulation, its price can experience extreme volatility due to manipulations by certain parties as well as global government policies. This extreme volatility is aided by the fact that unlike financial markets, there are no circuit breakers in place on digital currency exchanges. Furthermore, these exchanges operate 24 hours each day. Purchasers of the Elevato token may lack the information to properly assess the value of the token. Therefore, the BTC League does not guarantee, suggest, or infer any market price or value for the Elevato token. Holders of the token should understand the volatility of the Ethereum market; its value can experience extreme fluctuation. Investors should consider carefully of the above risks with a clear mind when evaluating this project, properly managing their personal financial status and the ability to tolerate risks when making financial decisions and bear the full risks associated with the investment. We cannot provide any form of compensation for the fluctuating market price or value of the token.
Legal Risks: Residents of United States of America (including all 50 states, the District of Columbia, and all U.S. Territories/ Possessions), Republic of Singapore, People’s Republic of China, Hong Kong SAR, and Macao SAR need to comply with the relevant laws and regulations of the legal jurisdiction in which they reside. Residents of other countries also need to comply with the laws and regulations of the legal jurisdiction they reside. Participants in the Elevato IEO are asked to fully understand and agree to the Elevato token investment risk warning. If participants are in violation of laws and regulations, BTC League Team cannot be legally held responsible for the violation.
Token Safekeeping and the Risk of Losing Tokens: Participants of the IEO need to secure all Elevato (ELE) tokens properly themselves. We cannot provide any form of compensation in the event where Elevato tokens are stolen or are lost due to human factors (example: lost in a transaction operation) or natural disasters (example: fire, flooding, storms, and other acts of God).
Participants of the Elevato IEO should read in detail and understand the above risk warning and important reminders. By participating in the Elevato IEO, you declare the following: you, the participant, have read in detail and fully agree with the above terms, you fully understand the risks of participating on the Elevato IEO, and you agree to be subjected to the above terms. If you have any concerns or questions about the actions you should take, please consult your legal, financial, taxation, or any other professional advisor before participating in the Elevato IEO.