Feb 25, 2022
Elucks Investing: What Investors Need to Know
Elucks Coin (ELUX) is the platform's internal token. It is used to facilitate crypto trading on the Elucks exchange. The coin was launched during an initial coin offering (ICO) in September 2021. Elucks offered 1000 million ELUX tokens to angel investors, 200 million tokens to the founding team, and the remaining 1000 million tokens to the various participants through the ICO process.
Almost half the funds raised during the ICO process were intended to be used for Elucks branding and marketing, while around one-third were used to build the Elucks platform and perform necessary upgrades to the Elucks ecosystem.