Since last few years, cryptocurrency world has seen both exponential growth and fair share of volatility, although currently seen much loss, the investors have become a bit cautious due to same reason.
Talking about EverGrow Coin (ECG) is one of the largest stablecoin reward tokens in market currently, where the coin is based on Binance Smart Chain (BSC) and tend to meet the BEP-20 standard,which could be considered as schematic (thereby defining rules of usage). The basic thing which differentiates EverGrow from others is to have built-in token reward system, which allows the buyer to earn passive income in Binance USD, even though market is very down. It is a hyper deflationary token, which means amount of it in market would decrease as per time. This also relates to theory of the same that the value of the left coins of EverGrow would rise in price cause of scarcity. It could be seen at the launch of the coin , where the total supply was being set to one quadrillion, but still half of the tokens were being sent to a burn address, by sending the value of EverGrow Coin up by 4000%. This was the time since when the value of it has decreased, but cause of the Stablecoin reward, it’s still included as long-term investment.
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Working of EverGrow
EverGrow coin working is associated with generation of stable passive income for its holders via token reward system which activates with every transaction. Each time an investor purchase trades or go for purchasing the token, 14% transaction fee is accumulated by its contract. Where 8% of that fee is so distributed back to its investors by way of BUSD, which is same to a traditional stock function of a dividend. Where, the passive income of BUSD is expected to store the value of the token somewhat stable in long run, even though the value of the EverGrow coin is wavy.
Where, the remaining 6% is divided equally into thirds and has been given between a liquidity pool, buy back and burn and developing and marketing. Currently, 100% of net profit is made towards buy back and burn, but it’s exact goal is for 100% of profits to give away in passive income for its investors.
Estimated Rise In EverGrow Coin
As an EverGrow Coin is a hyper deflationary token, this actually indicates that total supply of EGC would go done ahead. As discussed above, about half burning of the total supply of coin, since then it’s value has changed to around 90% since November 2021. But it’s all far from the lost.
EverGrow Coin is still a micro-cap cryptocurrency and although the nevertheless increase in scarcity of this token, it doesn’t seems a hike in its value. But this is due to easy fact that interest in crypto market as a whole has decreased increasingly. Scarcity is just a value in case people are ought to owe the same.
Drawback Of EverGrow Coin
Being treated as an investment vehicle, the EverGrow Coin is made on an surprisingly OK model. But at present, it’s not an easy token for tracking down. As when seen in previous checks, it isn’t listed on any of the main exchanges. When going through the list of top 20 exchanges being dependant on the trading volume, the EverGrow coin is not listed yet in any. But, out of the five notable exchanges, the EverGrow coin is on, one of them is not accessible by the U.S. residents. So the four major exchanges on which it is are LBank, Coinsbit, BitMart and Bitrue.
The interest in crypto is way down across the board and going to sign up for different account with a newer exchange would be just appropriate friction for the average investor for skipping the process. This isn’t appropriate for a token which is basically based on rewarding the holders through transaction fees. But one should not be far away from the fact that this project is latest. Therefore, it is possible that Binance, Coinbase, Kraken or one of the other bigger exchanges could list it down ahead. Until the EverGrow Coin hits a partnership with any of the major exchanges, it is more likely to not make any progress in a state which one is unable to understand.
Positive Aspects of EverGrow Coin
EverGrow Coin was built on the Binance Smart Chain and it’s the first Binance-pegged USD token (BUSD). Although it is safer to assume the interest in algorithmic Stablecoins are no more a hot commodity after what was done with Terra’s LUNA and dependent on whitepaper, it dose not look as weak and easy for an arbitrage attack. It tends to use the BUSD tokens as reward for its holders. Therefore anybody who is having any share in the EverGrow Coin would get a proportional share of the transaction fees in way of BUSD. However the transaction fees works here as, each transaction with the EverGrow Coin is having 8% transaction fee and that particular fee is wide spread to each holder of the token. Also, 3% of the tokens from each transactions are transferred to a liquidity pool for maintaining the token’s stability. In addition to this, an add on 2% of each transaction is made available to buy-back reserve through smart contract.
Facts and Conclusion On EverGrow Coin
EverGrow Coin was not caught on easily, still it has been the main aspect for holding the same back. Although, the team behind it has gone through the obligatory measures, so as to pull up the fear of rug pull. The members who are behind this token are been cyber bullied and such a project has been know-your-customer verified. The team although has moved ahead and beyond by publishing all the valid Wallet addresses. This involves wallets of management and the team which is behind EverGrow coin, having an active participation on Twitter, Telegram and Discord. This explains that every big decision would first be announced and then be enacted, which is a much assured way.
Also the EverGrow coin is also in line with the launch of an NFT marketplace as any other crypto project would be, in coming future. This is definitely a decentralised app exchange which is initiating to attain some of the attention. Also there is a content subscription base in the works, play-to-earn game, and staking pools which make utilisation of those NFTs.
The long-term plan of crypto involves a wallet and exchange and each big trend of crypto at present are all on the team’s to-do list. But such plans are not going to work in case the token is unable to catch the attention of maximum investors.
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