Innovative new smart contract idea highlights the new bridge made by the EverRise team.
Three-Way Bridge
EverRise has successfully started the implementation of their new decentralized Application (dApp), EverBridge. The bridge has launched on Ethereum as of October 5th and will finalize on Polygon on October 8th.
EverBridge will incorporate a new cross-chain smart contract strategy to facilitate the bridge between Binance Smart Chain (BSC) and the two other chains. The novel smart contract idea locks funds on all three chains giving users access to funds on all three chains with only gas as a transaction fee. The
“I’ve been speaking with EverRise guys from time to time. They came up with a really cool mechanism for the community stuff. I’m not a token holder myself, but I really love following developer efforts and things like that,” said Thomas Smith, CEO of SafeMoon, during an AMA with Gokhshtein Media on October 4th.
EverRise built its $RISE token on Binance Smart Chain as the first cryptocurrency ever to include an automatic buyback and burn system––dubbed the Kraken. The latest bridge offers increased tokenomics options over the average Decentralized Finance (DeFi) project.
Hyper-Deflationary Token
The tokenmocis built by the EverRise team for the $RISE token has created what can be called a ‘hyper-deflationary token.’ Different from a token burn from a non-circulating supply, the automatic buyback from EverRise immediately purchases tokens off the open market to burn.
This Kraken Buyback function uses 6% of token fees to fund a strategic buyback reserve that is converted into BNB token. The BNB reserves are then used to buy back RISE tokens from the open market. The token is designed to automatically send the tokens to a burn wallet.
So far, 27.62% of the circulating supply has been burned, according to EverRise. There is a maximum supply of 1,000,000,000,000,000 RISE coins.
The token can be purchased on PancakeSwap and Uniswap. The $RISE token has a market cap of just over $19 Million. The price is currently $0.00000002977, according to CoinMarketCap. The project has also been audited by Certik, with a score of 8, as well as TechRate.
About EverRise
A proprietary, hyper-deflationary token which rewards token holders with static rewards and automatic burns every trade from the liquidity pool. On top of that, EverRise offers an automatic buyback option for token holders. When the buy-back feature is enabled, the contract will buy back and burn tokens after each purchase. The use of $RISE tokens will be applied to their upcoming dApps, EverOwn being the most anticipated. EverRise aims to bring additional levels of trust, safety and security to the Binance Smart Chain space.
Where to find more about EverRise:
Source : bsc.news
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