Evergrow Crypto: A Smart Investment Move?

EverGrow Coin (EGC) is a new cryptocurrency that launched in September 2021. It quickly gained popularity, reaching 200,000 holders and a $200 million market cap just two weeks after its debut. The project is run by a team of experts in finance, software development, and marketing, and its members' identities are known and verifiable. The EverGrow ecosystem includes an NFT marketplace, a metaverse, and various platforms that offer users multiple ways to enhance their investments. The EverGrow token (EGC) is the native yield-generating cryptocurrency of the EverGrow protocol, rewarding holders with stablecoins. However, EGC has experienced significant losses in value, with a 90% decline in 2022. As of February 2024, the token ranks beyond the 4,000th position in market capitalization. While the project has slowed down, it has not halted operations, and there is still potential for the token to rebound.

EverGrow's passive income protocol

EverGrow is a BNB Chain-based passive income protocol that rewards holders of its native token, EGC, with stablecoins. The project was founded by Praveen Rai and Ajeet Singh and launched on 25 September 2021.

The main avenue for passive income on EverGrow is through rewarding EGC holders for each EGC transaction. The reward rate is contingent on the quantity of EGC held. The more EGC tokens held, the higher the reward.

The EverGrow project allows investors to make money in several ways. Firstly, investors can profit from the coin increasing in value. Secondly, holders can earn passive income by getting a cut of the transaction fee revenue generated by the project. This is where EverGrow sets itself apart from other crypto reward projects. It pays out rewards in a stablecoin pegged to the US dollar, helping investors avoid sales taxes and fees when converting rewards earned in the native token to fiat money.

According to the EverGrow website, 8% of every transaction fee is redistributed to EGC holders, 2% is transferred to an EGC liquidity pool on the Binance-based DEX Pancake Swap, and an additional 4% is shared equally between buyback programmes and project development.

In addition to passive income, the EverGrow ecosystem offers an array of services that provide users with diverse pathways to enhance their investments. This includes the NFT marketplace LunaSky, the crypto wallet Atlas Wallet, and the metaverse integration Objective Reality.

While the progress of the EverGrow project has slowed, and the token currently ranks outside the top 4,000 cryptocurrencies, there is still a possibility for the token to experience a resurgence.

EverGrow's team and leadership

On August 8, 2022, EverGrow announced that Ajeet Singh had stepped down as lead developer by mutual consent but would remain on the team as a technical consultant. Investor Sam Kelly joined the team and was appointed chairman of the board. The project's website mentions that 8% of every transaction fee is redistributed to EGC holders, and 2% is transferred to an EGC liquidity pool on Binance-based DEX Pancake Swap. Additionally, 4% of transaction fees are shared equally between buyback programs and project development.

EverGrow's whitepaper mentions its "anti-whale system", which limits any sale amount to a maximum of 0.125% of EGC's circulating supply. The project has distributed over $5 million to its community since its debut, with over 139,000 holders from 150 countries and more than 100,000 social media followers. EverGrow's unique passive income system has made it a leader in its field, distributing more than $38 million to its holders.

EverGrow's price performance

EverGrow Coin (EGC) launched in September 2021 and quickly became a success, reaching 200,000 holders and a $200 million market cap in just two weeks. However, its price performance has been less impressive.

EGC was trading at $0.00000006575 on 7 October 2021, less than two weeks after its launch. Interest in the token peaked a few weeks later, with EGC token transfers surging in the last week of October and peaking at over 70,000 transfer counts on 1 November 2021. This was also the day that EGC hit its all-time high of $0.000003379.

Since then, the number of token transfers on the EverGrow protocol has declined, and the price of EGC has followed a similar trajectory. In 2022, EGC lost about 91% year-to-date as of 30 December 2022. The token has continued to struggle in 2024, with its price falling further below its all-time high. As of February 2024, the current EGC price is over $0.000000007, with a market cap of over $33.5 million, making it the 4,809th largest cryptocurrency according to CoinMarketCap.

Despite its lacklustre price performance, some investors still see potential in EverGrow. The project has distributed more than $5 million to its community since its debut, and its team includes experts in finance, software development, and marketing. Additionally, EverGrow allows investors to make money in several ways, including through passive income in the form of a cut of the transaction fee revenue generated by the project.

However, it's important to remember that investing in cryptocurrencies carries a high risk, and you should always do your own research before investing.

EverGrow's new projects

EverGrow is a BNB Chain-based passive income protocol that rewards holders of its native token, EGC, with stablecoins. The project launched on 25 September 2021 and quickly gained popularity, reaching 200,000 holders and a $200 million market cap within two weeks.

LunaSky NFT Marketplace:

EverGrow announced the beta launch of its multi-chain LunaSky NFT Marketplace in September 2022. LunaSky collects a 2% fee on all sales transacted on the platform, which is used to buy back and burn EGC tokens to support their price. LunaSky is designed to be a revolutionary NFT marketplace where users can mint, buy, and sell NFTs. It supports creator royalties and can integrate custom utility tokens and other projects.

Crator:

Crator is a social media platform that is next in line to launch after LunaSky. As of October 2022, about 75% of the work on Crator had been completed. It is expected to be a social platform where users can connect and interact with each other.

Crypto Wallet:

EverGrow has also been working on a crypto wallet called Atlas Wallet. This wallet is ultra-secure and easy to use, with multi-chain capabilities. It allows users to create up to 50 wallets for security and convenience. It also offers an integrated swap feature, providing access to over 4000 tokens on Binance and Ethereum chains, as well as cross-chain swaps for over 35,000 pairs. Atlas Wallet also enables users to purchase cryptocurrencies directly with fiat currencies and off-ramp their crypto to bank accounts.

AbstractVR Metaverse:

In partnership with Objective Reality, EverGrow is developing the AbstractVR Metaverse, which brings together its entire ecosystem. Users can enter a 3D virtual world, socialise with friends, visit an NFT gallery, play VR games, and shop in virtual stores using their crypto wallet. The metaverse will also feature a virtual crypto bank.

DeFi Lending Product:

EverGrow has also expressed plans to introduce a DeFi lending product, though specific details about this project are not yet available.

Content Subscription Service:

The company intends to launch a content subscription service, allowing users to access exclusive content for a fee.

Play-to-Earn Game:

EverGrow is also developing a play-to-earn game, which will generate volume for the Lucro token. These games are designed to be fun and addictive, providing an engaging way for users to interact with the EverGrow ecosystem.

While these projects show promise, it is important to remember that the cryptocurrency market is highly volatile, and there are risks associated with investing in these assets. Always conduct your own due diligence before investing.

EverGrow's tokenomics

EverGrow is a blockchain-based digital finance platform that offers users several ways to earn passive income in cryptocurrencies, primarily through rewards paid in the stablecoin Binance USD ($BUSD) and the EverGrow coin (EGC). The project was founded by Praveen Rai and Ajeet Singh, experts in marketing and blockchain technology, and launched in September 2021.

The EverGrow token (EGC) is the native yield-generating cryptocurrency of the EverGrow protocol. It had an initial maximum supply of one quadrillion tokens. According to EverGrow’s whitepaper, the token has a buyback and burn feature, and over 50% of EGC has been sent to a burn address. The buyback reserve accumulates Binance Coin (BNB), which is used to buy back EGC from the open market and send them to a burn address. 2% of transaction fees on EverGrow is allocated for its buyback reserve.

The primary method for passive income on EverGrow is to reward EGC holders for each $EGC transaction. The reward rate depends on the quantity of EGC held. 8% of every transaction fee is redistributed to EGC holders, and 2% is transferred to an EGC liquidity pool on the Binance-based DEX Pancake Swap. An additional 4% of transaction fees are shared equally between buyback programs and project development.

The EverGrow ecosystem includes several platforms, some of which are yet to be launched:

• Objective Reality: A collaboration with Objective Reality that integrates EverGrow's functionalities with the 3D metaverse realm of AbstractVR, offering an NFT immersive 3D gallery, virtual reality games, and a virtual store.
• Lucro Gaming: A gaming platform that promotes the circulation of the Lucro token.
• LunaSky (in progress): A multi-chain NFT marketplace that facilitates NFT functions, from minting to token transactions.
• Atlas Wallet (in progress): A versatile cryptocurrency wallet that supports various crypto tokens and provides features for managing crypto portfolios.
• EverGrow Staking (in progress): A service designed to guide investors on crypto-earning opportunities through staking, with the flexibility to withdraw staked coins at any time without penalties.

Each EverGrow transaction incurs a 2% fee. Half of this fee goes into an EverGrow staking contract to provide rewards for EGC holders, while the other half is allocated to marketing, development, and operational endeavours.

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