I promised to review this token yesterday but I didn’t. I got occupied by unforeseen circumstances. Like catgirl, ever rise token is one of those tokens I think I am reviewing very late. I am glad I am finally able to review it.
If you are an investor just getting to know EverRise, curious, or maybe you are already an investor (this category of readers are usually very sensitive. Try to read the review with an open mind). This article was written with you in mind.
Here’s a little ‘about’ of EverRise, according to CoinMarketCap.com.
“EverRise is a blockchain technology company focused on increasing accessibility to decentralized finance by bringing security solutions to the space. Through an innovative ecosystem of decentralized applications, EverRise provides investors and developers the tools to access the widest possible market with the maximum level of security. The EverRise token is a multi-chain, collateralized cryptocurrency that powers the EverRise dApp ecosystem.”
Like I always do. I’ll be breaking down these seemingly difficult terms for you in simple English. But before we get into that, we need to establish an understanding.
“I’m not a banker or a financial expert, I don’t even consider myself a crypto “expert” (whatever that means). I will not be held responsible for your financial decision. Crypto investments, especially meme coin investments are high-risk, high-reward ventures. This article is just a guide, consider it an alternative form of entertainment.”
With that said, let’s break down the terms used to describe Ever Rise which makes it a little difficult to understand. These terms are; Blockchain technology, decentralized finance, and Decentralized Applications(If you know and understand these terms already, scroll down to the website subheading and continue reading)
Blockchain (Technology) is a way of recording information in a manner that makes it impossible to change. A blockchain is a digital record of transactions that is copied and transferred across the entire network of computers on the platform (blockchain). Think of blockchain as a train that adds a coach upon every new information. But unlike trains, these coaches once added cannot be removed, uttered, or changed. Hope that made sense to you.
Decentralized applications (dApps) are digital applications or programs that exist and run on a blockchain. For example, Tinder (the dating app) runs on one server (computer) somewhere in the United States. This server is owned and operated by whoever owns Tinder (Centralized). If Tinder decides to become decentralized, it will run on a blockchain network in a public, open-sourced, decentralized environment and is free from control and interference by any single authority. In a decentralized Tinder, users can send messages, no matter how ‘inappropriate’ that message is, it will never get deleted. Because a decentralized Tinder is out of the control of any single authority.
Decentralized finance, or Defi for short, is a financial system that operates without the need for traditional, centralized institutions. They are basically, codes or contracts that live in a blockchain and perform functions of traditional financial institutions independently.
EverRise’s website is professionally done. The serious tone of the website tells you it is not a meme coin. It is SSL secure and optimized for different types of viewports, which is not surprising, considering the seriousness of what the project claims to be. The description begins with a not so simple introduction.
“Integrating Blockchains and Bringing Security Solutions to Defi.
EverRise is a blockchain technology company that offers bridging and security solutions across blockchains through an ecosystem of decentralized applications.”
This means that EverRise is a blockchain company that unites the different blockchains (Ethereum blockchain, Binance Smart Chain, etc). The company also provides security solutions across the various blockchains via their many decentralized applications.
It is important to know that the Firm is called EverRise while the Token is called Rise. According to the website.
EverRise token (RISE) is a guaranteeing cryptocurrency that exists in different blockchains, that powers all the very useful decentralized applications that are linked to EverRise (we will be exploring these applications in the coming paragraphs). The token is secured with its Buyback and Staking feature.
If you don’t know what a buyback and staking are. Buyback is when a project, uses its own cash resources (in this case, Everrise generates buyback cash through its buy and sell levied on investors) to repurchase some amount of its tokens from holders at market price. The repurchased assets are then stored in the wallets of the entity. EverRise did know let us know whether the buyback wallet will be destroyed (burnt) or whether it will be gradually released back into circulation.
While Staking is a way to put your crypto to work and earn rewards on it. Think of it as a fixed deposit.
EverRise’s D’app Ecosystem
EverRise has 8 decentralized applications that are powered by Rise token. Let’s quickly explore these eight applications.
Everyone provides decentralization and security solutions, by helping to lock the smart contract and newly generated liquidity on a blockchain. After locking smart contract on EverOwn, it can only be accessed with a weighted community vote.
EverBridge serves as a link to the various blockchains. Its function is to help investors and projects move freely between networks at block speed. It is available on the Ethereum, the Binance Smart Chain, and the Polygon networks.
EverMigrate is the migration solution for projects wanting to upgrade their contracts. It provides a secure platform where investors can swap their old tokens for the new upgraded ones in a single transparent transaction.
EverStake is a staking platform on EverRise that allows RISE holders on all blockchains that RISE is available on to stake their tokens. Investors Stake RISE to earn rewards from buybacks even when the lock period ends and unstake with flexibility.
EverWallet is a complementary wallet to MetaMask, Trust Wallet, and other decentralized wallets, providing security enhancements to protect the assets inside by storing your tokens in a secure vault that resides directly on the blockchain. What I found interesting is the fact that EverWallet will ensure that even if your phone or laptop is lost or stolen, that you and only you will have access to your tokens. I have stories of how someone lost billions in bitcoin when his hardware broke. It is important to know that EverWallet has not been launched.
EverSwap acts as an intermediary between EverWallet and decentralized exchanges, so your tokens never have to leave the safety of EverWallet. It helps to securely swap your tokens without ever having to remove them from the safety of EverWallet. EverSwap is yet to launch.
EverSale is a launchpad to facilitate presales. No tokens are collected from the project because no project should fear a large sell-off when momentum gets going. EverSale is yet to be launched.
EverLock is an initial liquidity locker that leverages the power of community voting to maintain project flexibility and provides greater protection to the community than a simple time-based locker. EverLock is yet to be launched.
EverRise’s whitepaper is one of the heaviest white papers in the crypto space. It is a 24 page, 32.7MB downloadable PDF, published on the 23rd of November 2021.
EverRise’s white paper begins with a brief about of the token. I believe you know what the token is about now. Therefore, I will not dabble in that.
The introduction begins with EverRise claiming to be the first to bring the buyback to crypto. A simple Google search will confirm this to be false. BNB token uses a buyback mechanism and BNB token is way older than EverRise, which was launched in June 2021.
We also find out that the EverRise Contract is Certik audited. The contract is only subject to change following a community vote. This signals to EverRise is a company determined to be transparent. I used to think contract renouncement was the best thing in the crypto space but that isn’t true, it is very dangerous for tokens, as it makes them unmodifiable. The closest thing to contract renouncement is what EverRise has done. By making changes in the contract subject to the EverRise Community vote the EverRise contract enjoys the best of both worlds (Renounced and unrenounced contract).
Market Cap and Liquidity Pool
On poocoin.app I discovered a duplicate (scam) token that is masquerading as EverRise. The duplicate token has a total supply of 1 quadrillion, while the real EverRise just has 71,618,033,988 (~ 72 Billion) total supply.
According to poocoin.app, the binance smart chain token analysis website, the current market cap of Everrise is $69,896,936. This shows many investors currently have their monies in the EverRise project. It is however still has a relatively low market cap.
Also, the entire liquidity pool (100%) is locked in a contract. I could not determine the contract lock time frame. Again, Poocoin.app values the liquidity pool at $1,480,252. In my opinion, this liquidity figure calls for concern. EverRise has 52,991 holders on the Binance smart chain, as of the time of writing this review.
Please remember EverRise token is cross-chain (it also exists in Ethereum and Solana). You are advised to check the other blockchains, as the review is getting overly long.
Developers Behind EverRise
The EverRise dev team is doxxed. It was created by SURESH MADDINENI, who goes by the Twitter name @TitanEverRise. From his profile on LinkedIn, you can see that he is a tech bro, who has worked for many companies in tech. He currently lives in the united states.
The rest of the team is also doxxed. This gives investors a good level of confidence. Because these days, kids and none entities with little or no experience in tech or business are creating useless tokens and asking investors to invest in their brainless projects. This, in my opinion, is a green flag.
Some potential investors think it is a scam. While the believers in the project are optimistic and patient about the project. Here’s a Reddit conversation I thought was an interesting read.
What investors are saying about Everrise
Here’s another conversation on youtube
Even as I think the name EverRise suggests the token is a meme coin. EverRise is not a meme coin (shitcoin), it is just a badly named token with real utilities. The token recently got upgraded to V2. The devs are working to add more utilities to the EverRise ecosystem. This token has unimaginable potentials. I believe it is not a scam coin. The developers are experienced and doxxed. The token has investors who believe in the project. There’s hardly a bad thing to say about the project. If they can get their marketing game right, this token will fly, because it is a no-brainer and very cheap.
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