With some major painful losses, 2022 proved to be a brutal year for the crypto market so far. However, some recent tokens like EverGrow Coin (EGC) have performed well lately and have been trending upward. The team of EverGrow is building it up to be one of the largest digital currencies in the crypto world.
So here is what EverGrow is and how investors can earn passive income through it.
What is the EverGrow coin?
EverGrow Coin (ECG) is one of the most popular stablecoin reward tokens that exist in the market today. It is a hyper-deflationary token, meaning that the total supply of ECG tokens will likely decrease over time. It means the value of the EverGrow Coin that is left in the market will rise due to scarcity.
You might have noticed the practical evidence of hyper-deflationary features at the time of the coin’s launch. The initial supply of the token was set at one quadrillion. As soon as half of the tokens were sent to a burn address, the value of the EverGrow Coin price increased by nearly 4,000%. Since then, its value has decreased substantially, but its built-in token reward system makes it a worthwhile long-term investment.
Since its inception, this stablecoin reward token has operated flawlessly and attracted 138,000 investors, establishing itself as the leading stablecoin for passive income worldwide.
How does the EverGrow coin work?
The EverGrow Coin uses the Binance Smart Chain and it is the first Binance-pegged USD token (BUSD). It rewards holders with BUSD tokens. As a result, everyone who owns EverGrow Coin gets a proportionate share of the transaction fees in BUSD.
The token reward system of EverGrow allows investors to earn passive income by triggering on each transaction. A 14% transaction tax is charged each time investors buy, sell, or trade tokens. Out of those 14% amounts, 8% is paid back to investors as a reflection in the form of BUSD, much like a dividend on traditional stock. BUSD reflections are automatically deposited into investors’ crypto wallets. The remaining 6% is split evenly between development and marketing, liquidity pool, buyback, and burn. Although the project’s ultimate goal is for all revenues to be paid back to investors as passive income, currently 100% of net profit is used for buyback and burn.
Depending on the size of their holdings and the EGC trading volume, EverGrow Coin investors receive varying amounts. Since daily trade has now surpassed $3 million, EverGrow Coin owners receive daily rewards of about $240,000.
In addition to the Crator content subscription platform and integration with The Abstract metaverse, the EverGrow Coin team will shortly release the NFT marketplace LunaSky. These are all intended to boost trade activity and provide investors with more passive income.