The total value of all EverGrow (EGC) coins in circulation surpassed $ 1 billion on Sunday (October 31) after an 18,000 percent increase in the past month, according to Coingecko.com data cited by Newsfile Corp in a Yahoo report.
The EverGrow Coin cryptocurrency debuted in September. All EGC digital coin holders over 60,000 earn 8% rewards, sent to the user's wallet as Binance stablecoin, from each purchase or sale, and users have earned $ 10 million in rewards so far.
Half of the EGC token supply was burned off and taken out of circulation when it was launched, and another 2% of the supply has been burned since then. Another 5% of EGC's supply is on Airdrop and Team Wallet, but it is locked and earning no rewards. The rewards go to the remaining 44%.
Every buy and sell involving EverGrow coins sends 4% of the transaction to PancakeSwap, which solves the common liquidity problem with decentralized exchanges that employ the concept of liquidity pools. All buy / sell operations involving EGC are also combined with liquidity pools.
Each EverGrow transaction also triggers a 3% collection, which is converted to Binance and sent to BuyBack Wallet, which buys EGC on exchanges and permanently removes the purchased tokens from circulation.
EverGrow Coin also has an anti-whale program with an additional 1% charge added to all sales. EGC's smart contract will also not allow concurrent sales that exceed 0.2% of the total cryptocurrency supply.
The team that developed EverGrow is also working on various products to increase the viability of the coin, including an NFT marketplace based on Binance Smart Chain and a content subscription platform.
Related: Blockchain Bridge Alchemy App Raises $ 250M and Powers Adobe NFT
The Blockchain and Web3 development platform Alchemy, which allows developers to build applications on top of blockchains, recently raised $ 250 million with a valuation of $ 3.5 billion and is also the backbone of Adobe's non-fungible token (NFT).
Andreessen Horowitz led Alchemy's Series C funding round, while new investors Lightspeed, Redpoint and a16z also participated alongside existing investors Coatue, Addition, DFJ and Pantera.
