Our team launched Elastic as a social experiment. We understand that there really is no intrinsic value to the ESC token, aside from the value that the community and market place on it. ESC is a digital asset token similar to that of BTC, ETH, XRP and AMPL. Our token contains the core AMPL principles with the a set time rebase every 24 hours when out of equilibrium. Elastic Coin can function as a digital commodity like an asset with a dynamic supply. ESC can serve as a synthetic digital commodity token with a built-in ability for the supply to expand and contract in response to the market price’s deviation from its equilibrium price target.
Unlike the thousands of cryptocurrencies currently in the cryptocurrency space, ESC has a unique volatility mechanism that is hard coded with smart contacts, which makes it immutable. This self adjusting volatility mechanism allows it to be uncorrelated with other assets in the cryptocurrency space, thus allowing ESC to be utilized as a hedge against systemic turbulence in the crypto market. The Elastic Coin team’s vision is that price of ESC volatility is mitigated, thus allowing ESC to be better suited as a global reserve digital commodity than the existing cryptocurrencies currently out in the marketplace.