I believe eLTC is a lazy man's get rich quick scheme.
Basically, the creator of eLTC is creating a new token and giving a "free airdrop". But he's keeping 5% for "further development of the coin." That's 4 million coins.
Here's an article on it: https://techburst.io/introducing-eltc-the-new-erc20-litecoin-da6838f39492
This is probably one of the most laziest attempts at a get rich I've seen so far built on ethereum. No mention of future projects. Not even a white paper
He's right in that he's saying it's not an ICO because he's not asking for $$. But by keeping 4 mill to himself, he's hoping to cash out on an artificially created marketcap.
It's up to you if you want to participate. But this project is definitely not for me.
If you want to help me spread the word: https://twitter.com/ecurrencyhodler/status/917888227221970944