EverGrow is a yield farming and liquidity generation protocol launched in July 2021. It is a decentralized platform created to bridge the gap between cryptocurrencies and fiat. The team’s key goal is to make the benefits of cryptocurrencies accessible to ordinary people. The EverGrow web platform was introduced in August 2021, while the beta version of the dApp was launched in September 2021.
EverGrow Coin (EGC) is a BEP20 reflection token created to optimize users’ profits. Based on the Binance Smart Chain (BSC), the token was launched in September 2021. The EGC total maximum supply is limited to 1 quadrillion coins. 45% of this amount was spent on pre-sale and initial liquidity provision, 50% was sent to the burn address, 3% was assigned to the founders and the team, 2% was intended for airdrops. After the launch, half of the token total supply was burned and removed from circulation. The airdrop and team funds are locked and do not generate rewards. Initial liquidity is also locked for 1 year.
EverGrow Coin is a utility deflationary token programmed to become increasingly rare over time. It is mostly used for interest earning. At the time of writing, it is traded on 3 exchanges, PancakeSwapV2, DODO BSC, and SushiSwap, against BNB, BUSD, CAKE, and SAFEMOON. Users can also buy BNB and swap it for EGC right on the EverGrow website. To hold the token, users can rely on Trust Wallet or Metamask.
In addition, EverGrow Coin successfully completed a security audit conducted by Solidity Finance on October 13, 2021.
EverGrow Coin features
EverGrow Coin features BUSD earnings, BuyBack Wallet, Anti-Whale mechanism, and a liquidity pool.
A stable passive income for EGC holders in a stable coin BUSD backed by Binance is one of the most popular features offered by the project. In short, 8% of every buy and sell transaction is automatically converted into a stable currency and distributed among all EGC holders. The rewards are sent to their wallets providing EverGrow Coin owners with a passive income.
The Buy Back and Burn feature is used to protect the EGC token from price volatility. This mechanism collects 2% of coins from every operation, converts them into BNB, and sends them to BuyBack Wallet for secure storage. BNB tokens locked in this contract cannot be withdrawn as there is only one way to utilize them. When the wallet gets activated, it purchases EverGrow coins directly from exchanges and then burns them i.e. removes them from the circulating supply. Thus, it helps to decrease the circulating supply and thus increase the value of the cryptocurrency.
The wallet has two different BuyBack systems: MoonShot buyback and AutoBoost buyback. Moonshot buyback is a large buyback event that results in a large green candle on the chart. On the contrary, the AutoBoost System discourages early sellers with modest buybacks.
EverGrow Coin has implemented an Anti-Whale mechanism against users who want to own a large share of the circulating coins. The smart contract blocks concurrent sales of amounts higher than 0.125% of the total supply. Setting the maximum limit works as an indicator when whales are trying to sell their tokens. In addition, the system adds an extra 1% fee to all sales to decrease swing trading and price manipulation.
EverGrow's partner exchange PancakeSwap addresses low liquidity issues with a pool mechanism that implies staking some liquid currency such as ETH together with EGC to ensure its liquidity. A bigger pool provides a more stable price for EGC. In addition, EverGrow smart contract transfers 4% from each EGC-BNB transaction into a PancakeSwap liquidity pool.
The EverGrow team has developed several products to increase the utility of EGC token and encourage people to own and use it. The protocol’s ecosystem includes EverGrowArmy, NFT marketplace, subscription platform, dApps dashboard, staking pools, and play-to-earn games.
EverGrowArmy includes all users and supporters of the project. EverGrow NFT marketplace allows users to buy and sell NFTs on the platform. Meanwhile, tokens can be bought here below their standard market value. In addition, the marketplace provides a minting tool that allows users to create their own NFTs using videos, images, and other data.
The content subscription platform was developed to add utility to EverGrow Coin. EGC can be used for purchasing content and messaging content creators. Also, the team has created a dApps dashboard where anyone can view and monitor the rewards generated in real-time. Besides, it includes Swap exchange with a user-friendly interface.
Among the products prepared for launching are a play-to-earn game, staking pools, NFT Lending. The play-to-earn game is built on BSC and offers different types of heroes, each having their own unique strengths and limitations. The game allows players to receive daily login rewards and earn NFTs while enjoying the gameplay. Staking Pools are developed to increase the liquidity of Partnered Tokens by purchasing them on certain contractual interactions. NFT Lending will allow participants to earn from their NFTs at fair market rates without selling them.
EverGrow Coin team and partners
The EverGrow project is developed by a team of enthusiasts and professionals with backgrounds in blockchain, DeFi, Marketing, Web3, and cryptocurrency technologies, finance, customer service, and the telecommunications industry.
Sam Kelly is an award-winning investment specialist with over 20 years of financial knowledge and experience. He is the Non-Executive Chairman of the Board responsible for EverGrow’s strategic matters and business goals. He is also a non-executive financial director at Nanusens and a managing partner at Chorus Financial.
Praveen Rai has been a marketing and strategic consultant for a dozen blockchain startups and a blockchain-based conference organizer. He works as a marketing lead at EverGrow and a marketing manager at GlobalReleasewire. Other team members include Ionut Iacob, the Head of Operations at EverGrow and a Cloud Renewal Admin at Oracle, Ajeet Singh, a project lead developer, and full-stack developers Shashank Pathak, Rahul Singh, and Ummed Yadav.
EverGrow Coin is backed by multiple media partners including CoinQuora, Bitcoinist, Crypto Daily, Bloomberg, and Aithority.