Hyper-Deflationary EverGrow Coin Sees Rapid $30 Million Rewards

The project has delivered significant results for early backers, but questions regarding long-term ambition remain.

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Can EverGrow Maintain Growth?

Still relatively new, Evergrow Coin has achieved more in two months than many projects have managed in a year, culminating in 30 million BUSD distributed in a short space of time.

Part of the deflationary design behind EverGrow contracts means 8% in tax is taken from every transaction and automatically distributed to holders in BUSD. This is the catalyst for the incredible $30 million that has already been dished out in just two months.

Whenever this kind of performance rears its head from a relatively new project questions and suspicions are natural and perhaps even diligent. But EverGrow’s chairman Sam Kelly appeared to reiterate his project’s capabilities on December 28 via Twitter:

“In 3 short months we’ve seen at least a dozen ‘next EverGrow’ projects launch with great hype then drop to almost zero. All the while, our contract has performed flawlessly, passed a dozen audits with zero warnings, paid $30m+ rewards. So proud of our devs. $EGC #EverGrowCoin.” 

Exercising caution may still be the most useful guidance, but as the project continues it is likely to attract more attention and, as a consequence, further backing. 

The moment the project came onto the scene there was a whirlwind of money-making energy surrounding it, but the key to this game, as is often reiterated, is sustainability. 

With plans for the EverGrow ecosystem to include a ‘content subscription platform, a Chainlink Oracle based PlaytoEarn game and a multiplayer war game,’ there seems to be much ambition. Whether this can be realized is another matter, and the answer to this question is also likely to provide explanations regarding sustainability

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What is 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 buy/sell transaction in BUSD, which is automatically sent to your wallet due to 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 its unique reward scheme and deflationary mechanics. 

For more information about EverGrow:‍

Website | Twitter | Telegram  

Source : bsc.news