Originally launched on June 15th, 2021, EverRise is a blockchain technology company that offers bridging and security solutions across multiple chains through an ecosystem of decentralized applications. With their RISE token, they were the first to bring the buyback to crypto. Since then, the buyback mechanic has become standard in space with countless forks.
EverRise is working on bringing their ecosystem of dApps to as many blockchains as possible to increase adoption of safety protocols across all DeFi.
Keeping that in mind, EverRise, have recently gone live with version 2 of their contract on Monday, November 29th at 11:00pm UTC. The upgraded contract features several noteworthy innovations and changes. A representative from Certik.io noted in an update to the EverRise community, “The upgraded EverRise contract is a technological tour de force. The Certik team is impressed with the level of innovation and engineering.”
The new RISE token will be available on the Binance Smart Chain, Ethereum, and Polygon networks through PancakeSwap, UniSwap, and QuickSwap, respectively, with one supply across the three blockchains and balanced initial liquidity pools.
This is the first time a token has launched on three chains at the same time and marks the first time the RISE token will be available on Polygon. The token was previously available on both the Binance Smart Chain and Ethereum.
The updated contract brings innovations and several noteworthy changes along with it. The most significant new feature is the introduction of staking, replacing reflections, and allowing the transaction tax to be reduced from 11% to 6%. Holders choosing to stake their tokens have the flexibility of choosing between one- and twelve-months staking pools. The reward pool is fed by a brand-new automated buyback. Instead of sending tokens to the burn address, the upgraded automated buyback distributes the purchased tokens to the staking reward pool. Tokens will no longer be burned as the supply is now fixed and consolidated in a 10,000:1 ratio to just under 72 billion tokens (71,618,033,988).
Coming to More Blockchains in the Future
With the v2.0 launch, the EverRise ecosystem of decentralized application (dApps) will be available to developers on all three chains to bring security and assurance to project developers and investors. EverRise currently offers EverOwn, a smart contract locker launched in September, and EverBridge in October, a cross blockchain bridge capable of block speed transfers, to developers. as EverMigrate, a seamless way for projects to transition to an upgraded contract, launched in November 23rd.
Besides the new dApps on the horizon, EverRise is looking forward to bringing both their token and ecosystem of dApps to more blockchains in the future. They are committed to bringing safety and security to the entire DeFi space. EverSale, EverLock, EverWallet, and EverSwap are currently planned and in development, so look out for more great things from EverRise in the future.
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