EverUp – Prioritizing Buybacks to Drive Value

The EverUp project claims to redefine holder incentive through the use of strategic buybacks over prolific distribution.

Introducing EverUp

EverUp is a deflationary token project based on BNB Chain. The main focus of the project is providing holders with increasing value from significant token buyback and burns. Alongside the buyback function, holders are also privy to a variety of other benefits to incentivize holding. These include reflections, a stable liquidity pool (LP), and measures to prevent price dumping according to their whitepaper.

The EverUp project is powered by the $UP token. The EverUp smart contracts have been audited multiple times to increase the security of the project.

The EverUp project takes two facets of Decentralized Finance (DeFi) that investors enjoy and targets them: deflationary tokenomics and passive income from reflections. The way that EverUp approaches these concepts is how it believes it stands out.

Buybacks and Burns

Each EverUp transaction has a 15% tax. EverUp collects 8% of this tax and swaps into $BNB using a verified smart contract. When buybacks are enabled, this $BNB is used to purchase $UP from exchanges, which is then sent to a burn address. This mechanism both incentivizes holding due to the 8% collected as well as the supply greatly decreasing with each buyback and burn. 

The smart contract can be deployed for buybacks during periods of market instability, helping to offset any changes in price $UP may suffer due to outside factors. EverUp will execute this function to help drive momentum in strategic positions as well. 

Reflections and Other Tax Distribution

Although buybacks are the primary focus of EverUp, the project also gives reflections to holders. 2% of the tax is converted into $BUSD and then distributed to $UP holders as a bonus incentive. 

Additionally, 3% of the tax is sent to the EverUp marketing wallet for project development, and 2% is sent to the PancakeSwap Liquidity Pool (LP).

Why EverUp Stands Out

The EverUp team believes that while almost every DeFi project has some form of reflection for holders, the rewards are oftentimes underwhelming – especially as the community grows and the value of reflections decrease. The EverUp response to this is to focus on buybacks and burns to increase the value of $UP. 

EverUp is among the first projects to enact such a large percentage on buybacks. The team hopes that they will start a wave of similar projects that similarly focus on increasing token value over increasing token distribution.

Investor Protection

Because of their focus on incentivizing long term holding, investor security, trust, and protection is essential. In light of this, EverUp has prioritized measures that protect investors.

Anti-Manipulation Mechanisms

Although whale activities cannot be completely stopped in DeFi, EverUp has built a mechanism into their smart contract that prevents more than 0.125% of the total supply being sold in a single transaction. The limit seeks to minimize price manipulation by abrupt, large-scale selloffs.

Smart Contract Audits

EverUp has had their smart contracts audited by InterFi and Tech Audit. The results of each audit are publicly available to help create trust for its community. Some key notes from the audits are:

– No critical or major errors were found.

– The smart contract owner can’t mint tokens after initial contract creation/deployment.

– The smart contract owner can’t change the tax by more than 25%.

– The smart contract utilizes the “SafeMath” function to avoid common smart contract vulnerabilities.

PinkSale KYC

Although the founders of EverUp are not doxxed, the entire team has passed KYC on PinkSale. 

Liquidity Pool Lock

In order to prove the team is serious about the future of EverUp, the Liquidity Pool (LP) for the project will be locked for 6 months. As previously mentioned, 2% of every $UP transaction tax is transferred into the LP on PancakeSwap as an $UP-$BNB pair.

Presale Information

The EverUp presale and launch will be taking place on February 25th, 2022 at 18:00 PM UTC. The presale will be held on PinkSale at this location and will run through 18:00 PM on February 26th, 2022. The following details are from the EverUp whitepaper:

Tokens For Presale – 28,000,000,000 UP

Tokens For Liquidity – 14,520,000,000 UP

Presale Rate – 1 BNB = 35,000,000 UP

Listing Rate – 1 BNB = 33,000,000 UP

Initial Market Cap (estimate) – $742,586

Soft Cap – 400 BNB

Hard Cap – 800 BNB

A full list of presale details can be found here.

Roadmap

EverUp has a large amount of goals to achieve on the project roadmap. Once the presale has concluded and the project has launched, the team will begin to focus on future development.

The goal the team will be prioritizing first is enabling staking on the platform. This will activate another form of passive income for holders and is planned to go live in either March or April.

Along with enabling staking, EverUp plans to update their website, develop a dashboard, collaborate with influencers, and more. Their full roadmap can be found in their whitepaper.

Final Word

The EverUp team has claimed they want to take a different approach to deflationary mechanics and earning income for their investors. Using strategic buybacks and burns is more of a unique way to drive value to the $UP token, and the team believes they can start a wave of new financial products with this tactic.

With multiple audits, locked liquidity, and the team all having done KYC through PinkSale, EverUp seeks to assure users of their security. If you are looking for a deflationary token project to hold long term, EverUp could be the project for you.

For more information about EverUp, visit the following links:

Website

Twitter

Telegram

Whitepaper

Source : bsc.news