I’m buzzing right now. The greatest football club in the world (Arsenal), thrashed Man united a couple of hours ago. Okay, Enough of football, let’s talk about crypto. Today, we will be talking everfork token. Everfork token is currently one of the most visited tokens on coin market cap. The token is just 26 days old and it is grabbing the attention of investors. In fact, many investors and observers are already calling it the next titano. For those who do not know what titano finance is. In my opinion, titano finance is a Ponzi scheme, that is yet to collapse.
As the title of this review suggests, I’ll be reviewing the Everfork token, to find out whether the token is a straight-up scam, or whether it is a legit investment consideration.
Before we begin, you have to know that, I’m not a banker or a financial expert. I will not be held responsible for your financial decisions. It is important to verify or fact-check the information you got from this review and make your conclusions. This article is just a guide. Consider it entertainment. With that out of the way, let’s begin.
What is Everfork?
According to coinmarketcap.com, “Everfork token is a deflationary token designed to become scarcer over time. Not only will you be able to stake your coins but EverFork will also reward you with 13% BUSD rewards from all transactions which are automatically sent to your wallet. This generates a stable passive income.” For those who do not know, deflationary tokens are tokens fashioned to reduce supply over time. That is to say, the circulating supply of the token reduces as the years’ pass. The essence is to prevent the market from being flooded with the token while improving the value of the token. With that said, let’s go on to review Everfork’s website.
Everfork Token’s Website
Everfork token’s website is a simple, low-effort website. I’d agree if you call it basic. The description begins with the big promises. According to the website, INCREDIBLE 13% $BUSD REWARDS
STAKING LIVE SOON WITH 235,543.196 APY”
The developers went further to tell potential investors that, if they invest 1000$ worth of $EVERF, they could earn up to 2,355,431.00$ in a year!
Now, doesn’t this sound scam to you? This above modus operandi is starting to get old now, isn’t it? This is 100% more than what Titano and sphere finance promised.
This “fixed” 235,543.196% APY is just too good to be true in my opinion. For those who do not have any idea what an APY means. An APY is the Annual Percentage Yield. APY is the real rate of return earned on an investment, taking into account the effect of compounding interest. It is this “unbelievable” offer that Everfork token hinges its marketing on.
Everfork token has a total supply of 1,000,000,000,000,000. With a buy and sell fee of 16%. Here’s a breakdown of how the tax will be used. 3% from the 16% transaction tax will go to the marketing wallet which is supposed to ensure the growth and exposure of EverFork. While, the remaining 13% will be distributed to holders of the token, upon of buy and selling in the everfork ecosystem.
Everfork White Paper
Everfork’s white paper mainly highlights two things. These two things are ever fork utilities and staking/APY arrangement. For its utilities, these are the project the dev team promises.
Everboard will be everfork’s own dashboard where users will be able to track different things.
Everstaking will be everfork’s second utility which is a staking platform where users will be able to stake their tokens for a high APY.
Everswap will be the third utility coming out which will act like a DEX. Holders of the everfork token will be the first to try out the betas of the utilities.
EverNFT will be the fourth utility. Everfork, will have NFTs which will be implemented in different metaverse games.
Everpad will be, according to overwork, the final and biggest utility, this will be a launchpad. Only available for KYC’ed projects which need to do regular video calls with the ever fork dev team to pass the KYC. There will be 0 fees for them to create their presales on Everpad. We will also show our support for the projects during the launch stage.
The only difference between Titano, sphere finance, etc, and Everfork is that Titano and others operate an auto staking and auto compounding system, which Everfork doesn’t offer. With Everfork, you have to stake your tokens to receive the promised 235,543.196% APY. Let’s move on to see, the tokens’ market cap and liquidity level.
Everfork Token Market Cap and Liquidity
According to poocoin, everfork has a growing market cap of about 1.5 million USD, as at the time of writing this review, with just 984 holders. These figures are projected to rise in the coming weeks.
Currently, the liquidity pool contains 419.17 BNB, which is $169,538. Tokensniffer lets us know that 98% of the liquidity pool is locked for 140 days. This makes the liquidity pool relatively safe.
Developer Behind Everfork Token
The developers of Everfork are unknown. Some people will want to pretend that this is not a big deal by citing Shiba Inu and Bitcoin. But my dear, with the control developers, have on Everfork, the nature of this coin is a fork of tokens that have crashed or are heading for a crash. This is a red flag.
What “Investors” are saying about the token
In the above subheading, I put investors in quotes because there is no way to verify whether the folks behind the commend on the various crypto-related sites are authentic. However, the general comments around Everfork token are bullish. Everyone and their grandma seems to be happy about the project. Below are some of the screen shot.
According to token sniffer, the major problem with this token is the high tax, which honestly is understandable because of the reflection mechanism. The token’s contract has not been renounced, this is seen as a red flag. However, there could be legitimate reasons for a contract to be unrenouced. In my opinion, the extraordinary APY promised by the developers of this token gives it away as a scam. Also, the projects (utilities) they are embarking on is not new in the crypto space. If you decide to invest in this token, invest in what you can afford to lose.