Imagine if Shiba Inu burned in a day what it usually burns in a year – and you earned passive income from SHIB without pressing a button?
Well, that token is now here.
EverGrow bears a striking similarity to Shiba Inu, except it's automated, scalable and has nothing to do with Japanese dogs.
After EverGrow announced sending 53% of initial supply to the burn wallet, and with $38 million paid out in rewards, many commentators are calling it 'Shiba Inu on steroids'.
EverGrow still remains a low-cap cryptocurrency, at just $80 million.
But a recent rally took EverGrow up 57% – far past any Shib Inu gains in the past month – and a series of launches in September mean any interested investors need to get in now.
How does the average Shiba Inu investor contribute to Shiba Inu coin burns?
It's a trick question – there's no automated coin burn for SHIB.
Instead, investors must either manually send their own tokens to the burn wallet, buy up products from a business which sends a % of profits to the SHIB burn wallet, or put their Shiba Inu into a platform which pays them passive income for burning SHIB.
The Shiba.Swap burn portal launched in May this year – but despite promising a 5% APR to anyone burning their own Shiba Inu, it's not gone well.
The Shiba lead development team were forced to issue stern warnings to the burn portal following a series of delays, communication drop-outs and disappointments.
Enter EverGrow.
EverGrow launched in September last year with a burn tax built into every transaction.
Whether you buy or sell EverGrow, you contribute to EverGrow burns. Whether you're a whale or retail investor, you contribute to EverGrow burns. You contribute 2% of every buy/ sell order to be exact.
This tax alone has led to 53% of the EverGrow initial supply ending up in the burn wallet inside 12 months – meanwhile, since May last year, the Shiba Inu burn wallet has only received 0.01% of the SHIB initial supply.
It's a thumping success which has done the same thing Vitalik Buterin gifted Shiba Inu when he burned nearly half the supply – except EverGrow has done this automatically, through token architecture.
And the burn is just getting started.
The entire EverGrow system is designed to benefit EverGrow burns and EverGrow rewards.
For example, the launch of the new Lucro token in September gifted over $80,000 towards EverGrow buyback and burn in a single day.
For context, Shiba Inu burns over the past three months have had a dollar value of $120,000.
Lucro achieved this from a 1% transaction tax of which 0.8% is set aside for EverGrow buyback and burn. When Lucro becomes the main ecosystem token of the LunaSky NFT marketplace, buyback and burn will have an extra source of funds for EverGrow.
Furthermore, one of the primary NFT collections on LunaSky will be 1,500 EverGrow assets worth $100, from which 100% of the revenue goes towards EverGrow buyback and burn.
Oh – one more thing.
All of the profits from LunaSky will be put back into EverGrow buyback and burn.
See why people are calling the token 'Shiba Inu on steroids' now?
The final piece to the puzzle are EverGrow rewards.
EverGrow has a total 14% transaction tax – 8% for rewards, 2% for buyback and burn, 2% for marketing & development, 2% for liquidity.
So far the tax has financed $38 million in passive income.
While the Shiba.Swap portal and various staking platforms offer Shiba Inu passive income, there's a key difference.
Shiba Inu rewards are paid in SHIB or in other ecosystem tokens (TREAT, WOOF, BONE, etc.). EverGrow rewards are paid in BUSD.
The benefit of BUSD is a source of stablecoin passive income which keeps its value.
You can use the BUSD to reinvest, to buy other tokens, or make a withdrawal via the Binance exchange. This kind of utility is something Shiba Inu is aiming to build with the development of the Shibarium blockchain and a native DeFi ecosystem – meanwhile EverGrow is built on the BNB Chain and benefits from its existing structure.
EverGrow is a hugely exciting project which has everything it needs to succeed – it's just a question of exposure.
With a market cap of just $80 million, two key tokens, and a suite of applications about to launch, many investors are making the choice to diversify with EverGrow in anticipation of a boom.
EverGrow website:
Lucro token website: https://lucrotoken.com/
EverGrow Twitter: https://twitter.com/evergrowcoinEGC
Lucro Twitter: https://twitter.com/lucrotoken
Buy EverGrow: https://evergrowegc.com/buy-now/
Buy Lucro: https://pancakeswap.finance/swap?outputCurrency=0x988F7c894e4001EEB7B570CDE80dffE21CF7B6B9
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.