S'Up Peeps and what's the Craic? Don't know what I just said, check this post then.
So EverRise is a brand new token that just launched on the Binance Smart Chain (16th June). Is it another shitcoin, a memecoin, a 1 pump wonder, a pumpNdump you ask??? Well, read on and let's find out.
EverRise presale on DXsale sold 4000 BNB in 10 seconds. That's a lot and damn fast. This was most likely a result of Youtube influencer VosKoin pushing it before presale. He has nearly 400K subs. It launched on PancakeSwap around midnight June 16th and after a small pump, had a small dump. As you would expect, since then, well, it's done pretty much nothing but go up.
So, EverRise, as their name suggests, want the coin to only go up in value. So how is that possible, how can a coin never go down? Well it can't, of course it can go down but EverRise has some clever smart contract features built in to automatically push the price up. The goal is to ensure that the price rises quickly after any sale. Let me explain.
Firstly, you need about 13% slippage when purchasing/selling. From every buy/sell, 2% gets rewarded to holders. So yes, just hold it in your wallet and you will see the amount you have slowly increase. 3% goes into marketing and I think this is a good feature. Marketing is essential and many projects run out of marketing funds quite quickly after launch. This way, the marketing wallet is continuously topped up, allowing for extended campaigns to bring in new investors. New investors mean, new transactions, new transactions mean, 2% to hodlers and 3% to marketing. But that's not all...
They also include a 6% buyback tax. So 6% of every transaction is used to buy back EverRise from the market and burn it. This will reduce the amount of EverRise available, making it deflationary while also helping to stabilize the price as, every buy, results in another buy and every sale results in another buy. EverRise claim that you won't get more than 3 sales in a row without their buy back mechanism creating a buy. As I said, this slows price falls and helps maintain the price. Taking a look at the sales on PooCoin, you'll be hard-pressed to find more than 3 sales in a row without a purchase. the mechanism seems to work.
But is it enough to ensure the value of the token always, or ever, rises? Well no, of course not. But it is a very aggressive set of mechanisms to try and maintain price during sell sprees and drive the price up during buy sprees. Hodlers are encouraged to hodl through the reward scheme and the punitive tax when selling. All buys/sells contribute to a vital marketing fund and all buys/sells result in a 6% buy back and burn from the market which is massive really and will push the number of EverRise tokens in circulation down. As a token gets rarer, they tend to go up in value.
This is a really interesting newly launched coin, with a low Market Cap that's managed to gain over 10k hodlers in a half a day. If the marketing goes well, coupled with the aggressive smart contract features, this could do really well. New safemoon? lol Time will tell.
As always, make sure you have lots of Craic ;-)
You can purchase EverRise on Pancakeswap.
Check the EverRise graph on PooCoin.
If you are uncomfortable using links from a blog, please get links directly from their website everrisecoin.com.
P.S. Heard of SuperLauncher??? You should have!
Disclaimer: This is not financial advice. You must use your own judgement to decide what you will invest in. Never invest more than you can afford to lose as the value of your investment may go down.