Friends of Electra Campaign

Dear Electra community member,

The mission of the Electra Foundation is to ensure the overall growth and stability of the Electra Project as it progresses into the future. While it is extremely important that our community continues to share ideas and visions for future developments, it is the Foundation’s responsibility to evaluate whether these concepts can be achieved.

It is well documented that the Electra Project did not rely on the funds from an ICO or fundraising campaign in order to get its start. For the past two and a half years, the large majority of product development, exchange listings, and cross-marketing activities occurred at no cost. This extraordinary achievement occurred through volunteers and partnership deals with other projects and exchanges based on mutual benefits. We are extremely proud of these accomplishments, as it shows the strength and stability of Electra.

However, as we continue to grow, we are faced with the fact that will be times when we need expertise that is not always available in the Electra community. This includes having access to developers with the skills and knowledge of building smart contracts on our blockchain, integrating atomic swaps in ElectraPay, and other future improvements. We must also consider the fact that exchange listing fees are inevitable. In our two year history, we have had our portion of bad luck in regards to exchanges closing down. While this is something we continue to closely monitor, we do not know what the future holds for many of the smaller exchanges that are currently in operation. As such, the Electra Foundation wants to ensure all critical costs related to the development of priority exchange listings can be paid via the remaining premine funds that are safely kept by us.

Over the past two years, we have received many generous donations that were used for various causes. However, the current flow of donations towards the Foundation is near zero. To avoid the selling of any of the ECA premine amounts against the relative thin limit buy orders, on the various exchanges Electra is listed upon, we have decided to encourage donations by initiating a one-time “Friends of Electra” campaign where we will be exchanging donations for ECA against a fix BTC price ratio depending on the size set by the foundation.

The process is as follows. Donations can be sent to the BTC wallet address that is registered in the name of the Electra Foundation. Additionally, you will be required to fill out a short form on our website at https://www.electraproject.org/donation . During the campaign period, you will receive the ECA’s as soon as possible on the provided ECA wallet address.

Details of the Friends of Electra campaign:

BTC Address for donation : 33MYgLPLCEthL3VKqCyvPDFgkDTrwYhXDT

Minimum donation amount to receive ECA is 0.005 BTC

Friends of Electra campaign ends on December 31, 2019, or when the 2.5 BTC cap is reached.

→ Donations below 0.01 BTC = 1 ECA per 0.00000007 BTC (7 satoshi)

→ Donations above 0.01 BTC = 1 ECA per 0.00000005 BTC (5 satoshi)

Example:

0.009 BTC donation will be rewarded by 128,574 ECA

0.01 BTC donation will be rewarded by 200,000 ECA

We hope that everyone understands and supports the rationale behind this campaign. We know that if we want to grow as a project, we need everyone to be on board. The more people that want to donate time, energy, and/or money into the project, the faster we will be able to achieve the goals that are set for the short, mid, and long term future of Electra.

Kind regards,

The Electra Foundation