Cryptocurrencies have opened up new opportunities for generating passive income. With the evolution of the DeFi sector, many utility tokens have emerged as the keys to diverse ecosystems that offer multiple ways to grow crypto investments.
One such token is EverGrow ($EGC), which powers the digital financial network bearing the same name. The EverGrow ecosystem aims to incorporate various DeFi trends from recent years, such as staking without locking up, NFT markets, and metaverse integration.
This article explores the EverGrow token and its associated network, detailing the features available to EverGrow users, discussing whether EverGrow serves as a good investment, and providing information on how and where to purchase the EverGrow token (EGC).
EverGrow stands as a blockchain-based digital finance platform that offers users several pathways to earn passive income in cryptocurrencies, primarily the rewards are paid in the stablecoin Binance USD ($BUSD) and EverGrow coin (EGC).
Founded by Praveen Rai and Ajeet Singh, experts in marketing and blockchain technology, EverGrow swiftly secured $2 million before its launch in 2021. Subsequently, European investor and entrepreneur, Sam Kelly, joined the team, eventually assuming the chairmanship, while the original founders transitioned into project consultants. Paul Treffinger, Emmanuel Padilla, and Cody Black serve as key project managers.
Despite aiming to elevate EverGrow into the top 20 tokens, as of February 2024, the token currently ranks beyond the 4,000th position. Nevertheless, project development persists.
The entire EverGrow framework was designed to enable users to hold EGC coins and choose passive income generation methods without additional effort. Through EverGrow, users can effortlessly generate passive income around the clock.
The primary avenue for passive income on EverGrow involves rewarding EGC holders for each $EGC transaction. The reward rate is contingent on the quantity of EGC held.
The EverGrow ecosystem encompasses an array of services that offer users diverse pathways to enhance their investments. This ecosystem includes several platforms, with some yet to be launched:
Objective Reality: A collaborative endeavor with Objective Reality integrates EverGrow's functionalities with the intricate 3D metaverse realm of AbstractVR. AbstractVR offers an NFT immersive 3D gallery, virtual reality games, and virtual store access.
Lucro Gaming: This gaming platform hosts games that drive the circulation of the Lucro token.
LunaSky (in progress): A robust multi-chain NFT marketplace that facilitates all the main NFT functions, from minting to token transactions.
Atlas Wallet (in progress): A versatile cryptocurrency wallet supporting various crypto tokens and providing diverse features for managing crypto portfolios. This wallet accommodates tokens from Ethereum, Binance Smart Chain, Bitcoin, Solana, Cardano, Polygon, Cronos, and Avalanche C Chain blockchains. Noteworthy features include crypto on-/off-ramps, token swaps (including cross-chain swaps), and a cryptocurrency card powered by MasterCard.
EverGrow Staking (in progress): A service designed to guide investors on crypto-earning opportunities through staking. Investors have the flexibility to withdraw their staked coins at any time without penalties.
Proceeds from these services are pooled in the EverGrow staking contract, with EGC holders receiving EGC and BNB rewards from Binance Smart Chain and Ethereum through staking.
Every EverGrow transaction incurs a 2% fee. Half of this fee is funneled into an EverGrow staking contract to provide rewards for EGC holders, while the other half is allocated towards EverGrow's marketing, development, and operational endeavors.
EverGrow ($EGC) coin serves as a utility token within the EverGrow platform, facilitating staking rewards for EGC holders. Operating on the Binance Smart Chain, EverGrow coin leverages BuyBack schemes (using EGC for acquiring more EGC) and token burns to elevate its value and boost scarcity, as the coin is intended to be a deflationary cryptocurrency. As an anti-whale measure, individual purchases of EGC are restricted to 0.125% of the total circulating supply.
As of February 2024, the coin is exclusively available on a few exchanges after being delisted from major centralized platforms where it previously traded. The current EGC price exceeds $0.000000007, with a market cap surpassing $33.5 million, positioning EGC as the 4,809th largest cryptocurrency according to CoinMarketCap, placing it outside the top half of the list.
Initially, EverGrow was listed on multiple centralized exchanges, information on which can be found on the project's website. The coin was reportedly available on exchanges like BitMart and Indacoin. However, details regarding its delisting and removal remain unknown.
By February 2024, EverGrow coin was solely accessible on the popular decentralized exchange, PancakeSwap. Although CoinMarketCap erroneously indicates Probit as another trading venue for EGC, the exchange in question actually features EcoG9Coin, not EverGrow.
Given that EverGrow coin can only be obtained via PancakeSwap, acquiring supported crypto for the exchange is necessary. Luckily, the DEX offers a crypto on-ramp service. The section below will guide you on purchasing EverGrow coin.
The simplest method to acquire EverGrow coin is by linking your crypto wallet that supports $EGC to PancakeSwap and conducting the purchase of $EGC directly on PancakeSwap using another cryptocurrency. In case you do not possess any cryptocurrency, you can obtain it on PancakeSwap as well.
If you lack crypto, you should proceed to the Buy Crypto section, link the wallet to receive the tokens you will acquire, and purchase one of the supported tokens via card. Please note that EGC cannot be directly purchased using a card on PancakeSwap. The transaction will be processed through one of PancakeSwap's affiliates, such as Mercuryo, Tranzak, or Moonpay. The fees and payment methods supported may vary based on the platform. Upon obtaining crypto, you can subsequently exchange it for $EGC on PancakeSwap.
Now that you hold cryptocurrency eligible for exchanging for EGC on PancakeSwap, you must establish an $EGC wallet. Given that EverGrow coin operates on the Binance Smart Chain, a wallet compatible with this token type is necessary. This wallet will be essential for receiving the EverGrow tokens subsequent to your purchase.
The subsequent step involves swapping the tokens you own for EGC tokens. To initiate this, navigate to the Swap section and link your wallet. Simply select the Connect Wallet button at the base of the Swap box, input the address of the wallet containing the tokens you wish to exchange for EGC, specify the token you intend to utilize, and designate the quantity. Proceed by tapping Swap. That concludes the process!
We refrain from providing investment advice. The progress of the EverGrow project has slowed, with the website still outlining plans for 2023 as of February 2024. Nonetheless, the company has not announced a halt in its operations, and the token remains in circulation. There is still a possibility for the token to experience a resurgence. Only time will reveal the outcome.
EverGrow commenced as a daring and pioneering initiative. They successfully raised significant funds, secured partnerships, launched the platform, and had the token listed on multiple exchanges.
Subsequently, the project founders departed, leading to a gradual decrease in development pace. Presently, the $EGC token is exclusively available on PancakeSwap. You can buy it there for crypto. In the event you lack cryptocurrency for this transaction, you can obtain it directly on PancakeSwap, as the platform offers crypto on-ramps facilitated by Moonpay, Mercuryo, and Tranzak.