The dawn of the next best stablecoin may be upon us in the form of the EverGrow coin — a deflationary coin with built-in anti-whale mechanisms, a buyback and burn code, and set to overtake Dogecoin as the number 10 most popular coin on the market.
As of the time of writing, EverGrow is just shy of beating more than 12,000 contenders to make it to the prized top 10 coin list in the crypto market. This is all happening despite a crypto winter and bear market because the EverGrow team designed a token that could weather the test of time and bear markets.
Namely in its deflationary design where the amount of EverGrow will only become smaller as time passes. To date, the EverGrow Coin’s built-in buyback function (similar to how stock buybacks function in the stock market) has already removed 52.89% permanently from supply.
It is making the novel coin not only hyper deflationary but also incredibly valuable because of its increased worth over time. Could this be the ideal token the crypto community needs in times of inflation and near-recessions?
How Exactly Does EverGrow Work?
The mechanics of the EverGrow coin are quite straightforward in that holders of the coin generate stable passive income through its reward system with Binance. In particular, when an investor makes purchases or trades on the platform, they are charged a 14% transaction fee by its smart contract.
Then 8% of that fee is given back to the investors in the form of BUSD or Binance’s native stable coin. This system is based on the traditional stock dividend, where holders of dividend stocks receive a portion of their profits every fiscal quarter.
The plan by Evergrow is that the passive income of BUSD, should in theory maintain the overall value of the token and keep it stable even if the Evergrow Coin itself fluctuates because of market conditions.
The other 6% that is taken from investors in trades is split apart equally into ⅓ and then put back into the liquidity pool, to buy back and ultimately burn. As of the time of writing, 100% of the net profit is being burned in the buyback scheme—however, the founders of EverGrow intend for that income to eventually be completely returned to its investors and coin holders.
Why EverGreen Is The Next Big Thing
Evergreen is on the cusp of overtaking Dogecoin simply because the coin and its architecture work well as a solid form of passive income. All other passive forms of income such as staking and investing in hedge funds—as witnessed by the recent turn of events involving crypto hedge funds Celcius and Three Arrows Capital—often lead to disaster.
Not because the idea isn’t solid, but because they are often built on sand. A house of cards without any backing, falls, eventually. And that’s where EverGrow is getting it right.
Strategically placing their cards where they need to be. And by fostering a company where principles are transparency, trust, and longevity—EverGrow is doing everything its predecessors did wrong.
Chairman of the EverGrow Board, Sam Kelly recently stated this about why the new coin is working so well, despite a bear market,
“These long-term ideals are built into the coin’s mechanisms and are gaining popularity among many in the DeFi crypto community… Those interested in investing in EverGrow should adopt a strategy to hold on for 3–5 years before taking a profit.”
Anti-Whale and Proud About It
Another point of interest for EverGrow’s increasing popularity in the crypto community is its knockback against the crypto whale. Or investors whose moves often affect the entire community, their splashes tend to be bigger than those of the smaller retail investors.
And so this is why EverGrow decided to build an anti-whale mechanism into their ecosystem. Namely in the form of Anti-whale systems, where through the use of AI and code, they can check and counter the activity of crypto whales.
Additionally, an extra 1% fee is attached to all sales to stop any type of whale market manipulation. Evergrow also caps all sales at 0.2% of the circulation.
Do you think EverGrow has what it takes to be the next stablecoin and honest form of passive income? Will the crypto community adopt its principles of trust and transparency? Only time can tell if these bold new ideas will weather the crypto winter currently at our doorsteps.
