EverGrow has underlined itself as a token with huge potential after reaching its hardcap within 7 minutes of its launch.
Exploding Onto the Scene
Initial hype surrounding the innovative token, EverGrow, has been backed by the impressive figures generated in presale and the following days.
Numerous investors exemplified their support of EverGrow as the presale saw the Hardcap of 450 BNB easily reached in just minutes. EverGrow also confirmed via official press release that their Market Cap had soared from 150k to over $10 million in a matter of days.
“#EverGrowArmy is getting stronger day by day 5000+ Members on our Telegram: https://t.me/evergrowcoin,” the apparent official EverGrow account informed us via Twitter.
The ridiculous growth has been facilitated through transactions on both PancakeSwap and Poo Coin. The token has also seen a boost from a listing on CoinGecko where it soared atop the ‘Highest Gainer’ rankings in under 24 hours. Important to remember, that fast gains do not always lead to sustainable growth.
What’s the Attraction?
Whether the coin can keep living up to its name is another matter, but what we can indeed hone in on is what may be attracting current investment.
EverGrow has looked to introduce a new idea of rewarding users in BUSD, a stablecoin with a fixed value and consequently less risk. EverGrow reflections allow users to earn an 8% return in BUSD for each separate transaction if they hold $EGC tokens in their wallets.
In a bid to avoid overt manipulation by heady whales, Evergrow will reject all sales requests totaling more than 0.2% of the circulating supply. An additional 1% surcharge is also imposed on all sales to discourage swing trading and again counteract whale manipulation.
The measures taken are intriguing, perhaps even encouraging to the prospective investor, but of course, this is a new project which does offer risks in its own right and we must—as ever—urge caution.
About EverGrow
EverGrow states it works on an autonomous frictionless yield farming and liquidity generation protocol. It is a deflationary token designed to become more scarce as it progresses. They explain that all holders of $EGC will earn 8% rewards from each and every buy/sell transaction in BUSD, which is automatically sent to your wallet as a result of holding $EGC in your wallet. The team explains that tokens collected from fees are converted into BNB and securely locked and stored in their contract. The makeup of the project endears itself to investors due to both its unique reward scheme and deflationary mechanics.
For more information about EverGrow:
Source : bsc.news
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