What is EverGrow Coin: First-Ever Stablecoin Yield Generation Token

Summary

• EverGrow rewards users with the BUSD stablecoin for simply holding its EGC token in their digital wallets.
• The rewards are derived from transaction fees every time users buy, sell or transfer EGC tokens.
• Since it launched in September 2021, EverGrow has distributed $37.5 million in $BUSD to its holders–apparently the most of any project in history.

With the growth of cryptocurrency and decentralized finance (DeFi), it is now much easier for people to grow their wealth without relying on traditional financial institutions. As a result, there is a growing interest in crypto investments as more people seek to take advantage of the opportunities in the space. One of the challenges of investing in this space, however, is the drastic price swings.

This is where EverGrow comes in, with the promise of stable income generation–without the volatility.

What is EverGrow Coin?

Launched in September 2021, EverGrow bills itself as “world’s leading yield generation token.” Its pitch is simple and enticing–Hold its native $EGC tokens in your wallet and receive passive income every 60 minutes in the form of $BUSD, a regulated stablecoin pegged 1:1 with the US dollar.

In other words, the longer investors hold the EverGrow coin, the more passive income and capital growth they can generate in the long run, be it in bullish or bearish markets.

EverGrow runs on BSC, a blockchain that enables faster block speeds and lower gas fees compared to market standards. It uses the BEP20 token standard, which ensures privacy and security and allows for easy integration with other BSC protocols.

EverGrow Coins Rewards

How much has EverGrow distributed so far in passive rewards? $37.5 million in $BUSD to its holders–apparently the most of any project in history. For a coin that launched only in September 2021, this is an impressive figure.

Here is how it works:

1. All users who buy, sell or transfer EverGrow coin pay a 14% transaction tax
2. 8% of this goes to $BUSD stablecoin rewards
3. This reward is given out every 60 minutes to EverGrow token holders in their digital wallets.
4. 2% of every transaction is transferred into a liquidity pool for PancakeSwap to create a stable price floor.
5. Another 2% is transferred into a smart contract for strategic buyback reserve (see next section)
6. The final 2% is dedicated to marketing and development.

EverGrow tokenomics (Source: EverGrow)

With this model, EverGrow has accumulated over 139K holders spread across 150 countries, with over 100k followers and members across social media accounts.

How Does EverGrow Coin Work?

EverGrow (EGC) is a deflationary token designed to become more scarce over time through regular burn. At the launch of EverGrow, 1,000,000,000,000,000 $EGC were minted, and 50% of them were sent to the EverGrow coin burn address.

Further tokens are burned daily via a “buy back and burn” mechanism. EverGrow has a buyback reserve that accumulates BNB in the EverGrow smart contract. The smart contract buys back EverGrow tokens to create volume, rewards, and increase positive price action.

It then sends those tokens to the Evergrow coin burn address, removing them from circulation, thus reducing the total supply of EGC. This in turn increases the value of the remaining tokens.

EverGrow also has an anti-whale mechanism by limiting the amount that can be sold to each wallet to a maximum of 0.125% of the circulating supply. This is to prevent massive sell-offs that often leads to sudden price plunges.

4 Elements of The EverGrow Ecosystem

The EverGrow ecosystem is still under development, with the following to be launched in future:

1) The LunaSky NFT Marketplace

This decentralized NFT marketplace allows users to mint, buy, sell, lend, or trade non-fungible tokens (NFTs). This includes NFTs that are obtained through liquidated collateral from the NFT lending platform. It is also worth mentioning that the minting tool on the LunaSky marketplace will also allow users to create NFTs from images, videos, or any digital content.

2) Crator Social Media Platform

Crator is a content subscription platform that enables users to subscribe for content, purchase content, message content creators, or even leave tips using $EGC, other crypto or fiat.

3) EverGrow Crypto Wallet

Users have the option of buying, selling, and trading their crypto on the EverGrow wallet to receive token rewards as well as access to traditional crypto investing through the crypto wallet.

4) EverGrow Exchange

The EverGrow Exchange is a decentralized exchange (DEX) that allows users to buy, sell, or trade their favorite cryptocurrencies. In addition, the EverGrow Exchange also allows rewards in both native and non-native currencies which will be sent to EverGrow coin holders.

How Many EverGrow Coins Are There?

There is a maximum supply of 1,000,000,000,000,000 or one quadrillion of EverGrow coins i.e EGC tokens. As the native token of the EverGrow ecosystem, EGC is used for:

• Earning rewards in BUSD by holding EGC in their wallets
• Minting NFTs on the LunaSky marketplace
• Trading on the EverGrow exchange and other exchanges that list it
• Lending (staking EGC on the EverGrow lending platform to earn interest in BUSD)
• Pay for goods and services on the Crator social media platform and in virtual stores in the EverGrow Metaverse

What is EverGrow Coin Worth?

The EverGrow Coin (EGC) is trading at a price of $0.0000002164 with a circulating supply of 492.7 trillion EGC tokens for a market cap of $105,224,941 at the time of writing.

EverGrow Coin Price Chart

EGC price history from October 2021 to August 2022 (Source: CoinMarketCap)

The EverGrow coin was launched on 7 October 2021 at a price of $0.0000000747. Toward the end of the month, it experienced a glitch which led to panic sales. However, the team was able to resolve the issue quickly. The coin went on to chart an all-time high of $0.000003379 on 1 November 2021. However, after reaching this all-time high, its price has stabilized at the sub-$0.0000002 mark as the entire crypto market entered a bear market.

Is EverGrow Coin a Good Investment?

It’s too soon to say whether EverGrow coin is a worthy investement. EverGrow has distinguished itself as a project that enables users to earn passive income in a regulated stablecoin. However, much of its long-term success will depend on its ability to attract users to its future ecosystem, in order to generate utility and demand for its EGC token. There will no doubt be stiff competition in the spaces EverGrow aims to enter–from NFT marketplace to social media platform and decentralized exchange. The more unique the value it can offer, the more promising an investment EverGrow will be.