Driving Affordable EVs with Blockchain: Egochain IDO on Spores Launchpad!

4 min readJun 7, 2024

Prepare yourself to unlock the limitless potential of the upcoming Egochain IDO on 06th June!

Egochain is at the forefront of transforming the electric vehicle (EV) industry by harnessing the power of blockchain technology. As the demand for sustainable transportation grows, Egochain addresses the critical challenge of making high-quality electric vehicles affordable and accessible to everyone.

By integrating blockchain into its manufacturing and supply chain processes, Egochain ensures transparency, efficiency, and sustainability at every step.

🔷 Highlights

Layer-1 protocol with affordable EV Production, track-and-trace features with just few clicks
Successfully raised $1.5M, including a $200k grant.
Onboarded Tekedia Capital fund & clean energy grant from the Nigerian government.
Opened 3 showrooms, 3 offices with 120+ staff.
Launched dual-fuel generators and dual-fuel three-wheelers.

🔷 Egochain IDO Timeline

VIP Round: 06th June, 10:00 UTC => 06th June, 22:00 UTC (12 hours)
Triple Quota: 06th June, 22:00 UTC => 06th June, 23:00 UTC (1 hour)
FCFS Round: 06th June, 23:00 UTC => 07th June, 11:00 UTC (24 hours)

🔷 Egochain IDO Details

Token Name: Egochain
Token Symbol: $EGAX
Total Raise: $100,000
Chain: Egochain
Refund mechanism: 24h Secured
Initial Supply: 80,000 EGAX
Initial Market Cap: $240,000
Total Supply: 10,000,000
IDO Price: $4
Vesting Schedule: 50% at TGE, then monthly vesting for 6 months

🔷 Egochain Tokenization

Asset Tokenization

Egochain converts physical assets and processes into digital tokens on the blockchain, ensuring transparency, traceability, and security. This helps in creating a verifiable record of every step in the production and supply chain.

Smart Contracts

Tokens are managed through smart contracts, automating transactions and ensuring that they are executed only when predefined conditions are met. This reduces the risk of fraud and enhances the efficiency of operations.

Incentive Mechanism

Egochain tokens can be used to incentivize various stakeholders, including suppliers, manufacturers, and consumers. By rewarding eco-friendly practices and efficient production methods, Egochain fosters a culture of sustainability and innovation.

Investment Opportunities

Tokenization opens up new investment opportunities by allowing individuals and institutions to invest in the future of electric vehicles. Token holders can benefit from the growth of Egochain’s ecosystem, aligning their interests with the company’s success.

Decentralized Governance

Token holders can participate in the governance of the Egochain ecosystem, voting on crucial decisions and helping to steer the company’s direction. This decentralized approach ensures that the interests of the community are taken into account.

🔷 Egochain Ecosystem

Egochain uses blockchain to cut costs and streamline manufacturing, making high-quality electric vehicles more affordable.
By reducing production costs and ensuring transparency, Egochain makes sustainable electric vehicles accessible to more people.
Principle of “In MCD We Trust”: Egochain’s approach focuses on innovative manufacturing, strong collaboration, and decentralization to ensure transparency and fairness.
Egochain employs advanced technologies, real-time tracking, and smart manufacturing to boost efficiency and secure transactions.
Egochain is committed to eco-friendly practices and a sustainable supply chain, promoting electric vehicles to reduce carbon emissions.

🔷 About Egochain

Mission

Egochain’s mission is to democratize electric vehicle (EV) ownership by leveraging blockchain technology to produce high-quality, affordable EVs. By streamlining manufacturing processes, reducing costs, and ensuring transparency and sustainability, Egochain aims to make sustainable transportation accessible to everyone.

Vision

Egochain envisions a future where electric vehicles are the norm, contributing to a greener and more sustainable world. Through innovation, collaboration, and the power of decentralization, Egochain aims to lead the transformation of the EV industry, setting new standards for affordability, transparency, and environmental responsibility.

Roadmap

Egochain Official Links

🔗 Website | 🔗 Twitter | 🔗 Telegram

About Spores

Spores Network is a leading multi-chain launchpad for IDOs and INOs, committed to supporting high-quality web3 projects with comprehensive solutions that go beyond funding. Join Spores as we revolutionize the world of decentralized finance and empower the next generation of creators and entrepreneurs to achieve their goals.

Join our collective. Tell your story. Share our vision, at Spores Official!

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