Bybit Learn
Bybit Learn
10 июня 2022 г.

EverGrow Coin: Growing A Stable Passive Income

The cryptocurrency market has seen both exponential growth and its fair share of volatility in the past several years. With painful losses still stinging, investors are becoming more cautious. 

Everything that’s happened so far in the industry begs the question: What’s next? This article will break that query down by exploring the EverGrow Coin, and how its team is building it up to be one of the biggest digital currencies in the game.

What Is EverGrow Coin?

EverGrow Coin (ECG) is one of the biggest stablecoin reward tokens in the market today. The coin is based on the Binance Smart Chain (BSC) and meets the BEP-20 standard — which can be thought of as similar to a schematic that defines the rules of usage.

What makes EverGrow different is that it has a built-in token rewards system that allows the buyer to earn passive income in Binance USD (BUSD), even when the market is in a slump. EverGrow Coin is also a hyper deflationary token, meaning that the amount of it in the market will decrease over time. That means — in theory — that the amount of EverGrow coins left will rise in price due to scarcity.

This was observable at the coin’s launch. The total supply was initially set to one quadrillion, but half of the tokens were sent to a burn address, sending the value of EverGrow Coin up nearly 4,000%. Since then, the value has decreased, but because of the stablecoin rewards, it’s still a worthwhile long-term investment. 

Since its launch, this innovative system has operated flawlessly, allowing the project to accumulate 138,000 investors while becoming the world’s leading passive income stablecoin.

How Does EverGrow Work?

EverGrow coin works by generating stable passive income for its holders through a token rewards system that triggers on every transaction. Every time an investor purchases, trades or buys the token, a 14% transaction fee is collected by its contract. Eight percent of that fee is distributed back to the investors in the form of BUSD, similar to the traditional stock function of a dividend.

The passive income of BUSD should keep the value of the token relatively stable over the long term, even if the value of the EverGrow Coin itself is fluctuating, simply by keeping it in a wallet.

The other 6% is split equally into thirds and distributed between a liquidity pool, buyback and burn, and development and marketing. Right now, 100% of the net profit is put toward buyback and burn, but the project's ultimate goal is for 100% of profits to be sent back into passive income for investors.

An interesting aspect of EverGrow is that its founders and team can only generate income and operating revenue via the same rewards system as investors. This means that both the investors and the coin’s creators have the same goal in what EGC Chairman Sam Kelly has called a “share in an ecosystem” coin.

Why Is EverGrow Coin So Popular?

EverGrow generates a stable, passive income without having to sell EverGrow Coin and risk taking a loss. Given the volatility of the crypto market, this is an enticing idea, and more and more investors are beginning to take notice.

EverGrow is founded upon the principles of transparency, trust, community and longevity. They feel strongly about creating an entire “ecosystem” for their investors and holders who provide value in many different ways.

These long-term ideals are built into the coin’s mechanisms and are gaining popularity among many in the DeFi crypto community. Chairman of EverGrow’s board Sam Kelly has stated that those interested in investing in EverGrow should adopt a strategy to hold on for 3–5 years before taking a profit. So why is it so popular?

Growing Passive Income with $BUSD

The EverGrow Coin generates passive income for investors and holders because they earn rewards tokens on the Binance Smart Chain network. Eight percent of each transaction earns BUSD, regardless of the value of EverGrow Coin at any given time.

For example, crypto investor Jesse Eckel invested $2,500 to buy EverGrow Coin for three weeks. This falls far short of the coin’s long-term goals, but Eckel had a lucky return due to rising prices at the time. His investment became worth more than $15,000 and $138 BUSD. While Eckel had a lucky return, even if the price of the coin hadn’t risen, he still would have seen a 5.5% return on his investment.

The connection between EverGrow and Binance is an important one, because it directly answers one of the earliest criticisms of EverGrow Coin: That it was difficult to find and purchase the token on any exchange. 

Liquidity Pools

Liquidity pools are a pretty essential part of the cryptocurrency ecosystem across the board. However, it’s interesting that EverGrow has a base percentage built into its transaction fees, instead of enticing investors with LP tokens. Liquidity pools create a faster, more streamlined approach to decentralized liquidity of shared assets.

This creates a stable floor price and should prevent slippage, which is a concern when trying to enter and exit the market. EverGrow uses smart contracts to provide asset liquidity for traders to swap between markets on a variety of decentralized exchanges (DEXs). Since slippage is more common during times of volatility, EverGrow’s liquidity pool focuses on overall stability and growth.

Buyback & Burn

Similar to traditional stock “buybacks,” a crypto project will use its own token’s reserve fund to send them to a burn wallet. This process raises the price and generates rewards, but it permanently removes these tokens from circulation. This creates scarcity which should raise the relative value of the tokens in each holder's wallet. 

Since the EGC is a hyper deflationary coin, the passive increase in value — while more tied to the volatility of the market — can create additional earnings for holders. Users can also see their reflection tokens through a dedicated app to claim and receive rewards manually.

Aggressive Anti-Whale Mechanism

Right now, there’s nothing that anyone can really do to stop whales from quickly influencing the price of any crypto, but EverGrow has one of the most aggressive anti-whale mechanisms in the DeFi crypto market. Anti-whale systems check and counter the activity of crypto whales who use their immense wealth to manipulate market values, selling large amounts of currency in a short span of time to create panic. In order to prevent panic selling and plunging coin valuation, EverGrow created an anti-whale system with regularly recurring audits.

An extra 1% fee is applied to all sales to discourage whale manipulation, and EverGrow caps all sales at 0.2% of the circulating supply. So far, except for one incident that was immediately addressed and corrected by the project team, EverGrow’s anti-whale measures seem to be effective.

EverGrow Coin Tokenomics

The mechanics behind this coin and its surrounding ecosystem is based on EverGrow’s token distribution strategy and advanced tokenomics. Tokenomics is a catch-all term for the various elements that make a cryptocurrency valuable and interesting to investors, which also makes sound tokenomics crucial to the success of any cryptocurrency project.

EverGrow's tokenomics function differently from those of  many other platforms, in that not only can the project team earn income from the same rewards as their investors, but these rewards are also meant to create long-term stability and grow an ecosystem around the coin, making it valuable to users beyond its monetary aspects. Its well-designed incentives give tokens longevity, often translating into higher yields for EverGrow’s users.

EverGrow’s utility tokens are an integral part of the surrounding infrastructure. As mentioned earlier, there is a 14% transaction fee that translates into different reward tokens. While 8% of it is automatically redistributed to all token holders, 2% is sent to EverGrow Coin project development, operating costs and staffing. It’s worth taking a closer look at EverGrow Coin’s road map to see how your USDT will be put to use.

EverGrow Coin’s Road Map

EverGrow's primary goal is to make the EverGrow Coin a top 20 crypto project while revolutionizing the Web 3.0 passive income movement. Since its launch, the micro-cap coin has grown with over 138,000 holders across 150 countries and 100,000 social media followers and members. Following are some of the project’s plans currently in development that are enticing investors.

LunaSky NFT Marketplace & NFT Lending

Announced in May 2022, LunaSky is EverGrow’s NFT marketplace, where users can buy, sell and mint NFTs. This NFT market is cross-chain supported, but the most intriguing aspect of the LunaSky marketplace is that it will also include NFT lending to promote more accessible liquidity in the NFT and DeFi space.

One of the first mechanisms of its kind, the LunaSky marketplace will allow users to borrow against their NFTs as collateral, which creates yet another chance for owners to earn passive income. This is similar to the reward token that allows BUSD to passively accumulate just by holding it in your wallet. EverGrow has also made promises to charge fair interest rates so that holders can raise funds without selling.

Staking Pools

Staking pools, also known as reflection-backed liquidity offerings, are similar to traditional mining pools, in which all multiple stakeholders combine computational resources to increase their chances of earning rewards by verifying and validating new blocks. This is done by using smart contracts to move part of its liquidity to partnered tokens, like BUSD, to be divided among pool members. The goal is to incentivize users to hold their rewards long-term instead of selling them during a high market.

Crator Content Subscription Platform

In January 2022, EverGrow also developed and launched a content subscription platform for its stakeholders and other investors. Still in beta testing, the app will allow users to watch their holdings in real time. According to a statement by EverGrow, it’s the world’s first fiat and crypto social space for content creators.

EverGrow Meta

EverGrow is also working with Objective Reality and AbstractVR to create a virtual reality universe called EverGrow Meta that brings together the entire EverGrow Ecosystem. Soon, users will be able to browse LunaSky NFTs in a 3D gallery, socialise with other users and influencers on Crator, play VR games, and even shop in virtual stores.

EverGrow Crypto Wallet & Exchange

The EverGrow team has announced that it will fully integrate its advanced tokenomics for rewards in both native and non-native currencies as well as NFTs. Users will be able to do this with one of two methods: software wallets or hardware wallets. The main difference between the two types is that hardware wallets are often deemed to be the more secure option as it is not connected to the internet, resulting in it being resistant to hacks. 

Both the EverGrow Crypto Wallet and EverGrow Exchange are designed to help investors with long-term goals generate more income — particularly passive income over time — with good investment research. Eventually, users will profit through buyback and burn with extra activities such as mining and reflection tokens, as well as trading NFTs and engaging in NFT lending.

Where to Buy EverGrow Coin

Currently, EverGrow can be purchased on BitMart and PancakeSwap. It’s important to note that BitMart doesn’t offer services in America, so investors in the U.S. may want to look to PancakeSwap instead.

Using a compatible wallet, users can buy EverGrow Coin with BNB or BUSD. They can connect a compatible wallet to the EverGrow exchange by visiting their website and using the WalletConnect function to connect via a QR code.

Is EverGrow Coin A Good Investment?

While the market’s interest in algorithmic stablecoins has diminished after what happened recently to Terra’s Luna, the EverGrow Coin has been designed to circumvent issues that have adversely affected other tokens in the past. While investors may still be cautious about investing, especially in a micro-cap currency, a plethora of utilities created by EverGrow exist to make it an attractive investment despite the market's overall volatility.

It’s easy to forget that crypto projects are run by people, but the EverGrow Coin does a lot to keep current and prospective stakeholders involved in the infrastructure surrounding the coin. There’s been a lot of buzz around both the coin and the clear strategic plans its team has for the next few years. When an investor buys this token, they’re getting an entire community and support system that both provide value for the long term.

The project has an online community of a combined 70,000 on Twitter and Facebook, as well as a Discord server with 12,000 members. What’s exciting for potential investors is that because the project is relatively new, it’s still possible for investors to get in on the ground floor.

With a focus on transparency and community, as well as being the first stablecoin of its kind that allows holders to earn a passive income — and the fact that the team is still working on more utilities to generate independent income without sacrificing stability — the EverGrow Coin is a logical investment choice that investors can feel good about.

Closing Thoughts

There’s a reason the EverGrow Coin is currently garnering so much attention. Their approach to tokenomics — with a focus on stakeholder accessibility, earning passive income in stablecoin, and more — makes the project sustainable, with many incentives to buy EverGrow coin.

Its partnership with Binance also demonstrates that EverGrow is dedicated to the long-term growth of the coin, with built-in mechanisms to fight volatility in the market and produce income. Despite current market volatility, EGC is a very attractive option for beginning crypto investors, as well as those who are well-versed in the market.