Cardano Staking Just Got Even Better – EverGrow Passive Income

Cardano Staking Just Got Even Better – EverGrow Passive Income

Two of every three ADA tokens are currently staked on the Cardano network.

If you're a Cardano staker (or considering it) the benefits are obvious:

  • 3-5% annual percentage yield (APY) on your staked ADA
  • The ability to deposit or withdraw ADA at any moment (unless you're using a fixed staking product, e.g. on Binance)
  • Participation in a sociable staking pool
  • Participation in securing the decentralised Cardano blockchain 

But if you invested in Cardano prior to the bear market in July 2022, you'll be feeling the pain of a diminished portfolio.

Sure, you're receiving more ADA every day or every epoch (5 days) – but what if that ADA is worth $0.5 instead of the $1 or even $2 or $3 at which you bought in?

By early April alone, data from IntoTheBlock showed that 75% of Cardano investors were in the red.

Come June-July 2022, only people who bought in 2020 or earlier will actually be in profit.

Passive income you can make use of tomorrow – EverGrow

Imagine if by staking ADA you received stablecoins instead of more ADA?

It would mean no more clinging on to your Cardano portfolio in anticipation of the next crypto bull market.

It would mean being able to use your Cardano rewards instantly –and without losing any of the other benefits. 

Sounds interesting?

Welcome to the fundamentals that have taken newcomer altcoin EverGrow from nowhere to become the top stablecoin reflection token in crypto in just 10 months.

EverGrow has paid out $37.5 million in the Binance-Pegged USD (BUSD) stablecoin to investors, depending on their position size. 

BUSD rewards arrive daily in your digital wallet and can instantly be withdrawn to your regular bank account, used to buy up other crypto assets, or kept as a reserve.

How does EverGrow generate passive income?

All reflection tokens come with a transaction tax.

In the case of EverGrow, you pay a 14% transaction tax every time you buy or sell $EGC. The transaction tax is split as follows:

  • 8% distributed as BUSD rewards
  • 2% set aside for liquidity on PancakeSwap (the BNB Chain's leading decentralised exchange)
  • 2% set aside for buyback and burn
  • 2% used to fund marketing efforts 

This means that BUSD rewards are heavily dependent on daily trading volume. 

During the bear market daily volume is ranging between $100,000-$300,000 meaning around $8,000-$24,000 BUSD is entering investors' wallets every day.

But EverGrow hit a peak of $12 million daily trading volume in 2022 – generating $960,000 in BUSD rewards – and a peak of $62 million in 2021 – generating $4.96 million BUSD rewards in a 24-hour period.

How do EverGrow BUSD rewards compare with Cardano staking?

Let's take an example of a $5,000 investment in EverGrow and a $5,000 investment in Cardano back in early October last year.

How would your portfolio be holding up in July 2022?

$5,000 investment in Cardano 

A $5,000 investment in Cardano would have bought you 2,196 ADA. Let's assume you put this into a Cardano staking pool accruing 4.6% APY (according to the Cardano calculator) this means you would have earned 84 extra ADA right now.

From a $5,000 Cardano purchase in October you'd now have 2280 ADA worth $1,140 (with an ADA price of $0.5).

$5,000 investment in EverGrow

A $5,000 investment in EverGrow in early October would have bought you 65.4 billion $EGC (at a price of $0.00000000747 but only buying with $4,300 after paying the 14% transaction tax). Taking the average of all daily trading volume figures from then to now gets $3,618,179. Plugging these figures into the SleekFinance EGC calculator gives a result of $12,800 BUSD over 10 months ($1,280 a month).

From a $5,000 EverGrow purchase in October, you'd now have 65.4 $EGC worth $10,856 and $12,800 BUSD you're free to use without affecting your underlying investment.

How will EverGrow maintain high daily trading volume?

If you'd bought EverGrow in early October you would have been lucky – EverGrow prices rallied strong until a decline began from January 5th this year along with the rest of the crypto market.

The daily trading volume has also dropped off from $12 million in January to between $100,000 – $300,000 in July.

Cardano clearly has an easier ride to high daily trading volume – between $0.5-$1.5 billion in July. 

To continue paying BUSD rewards, EverGrow needs to recover and maintain high daily trading volume.

Here's how the core development are preparing for that:

  • EverGrow has already become the leading stablecoin reflection token in crypto, meaning it is well placed for when new investors enter the crypto market once more
  • EverGrow is about to drop an NFT marketplace on the BNB chain, with mint prices as low as $0.20-$0.40 and payable in BNB
  • EverGrow also has a content subscription platform in development – Crator – which will be the first crypto native social media network of its kind
  • EverGrow is building its utilities into The Abstract metaverse, the world's first cloud-streamed VR gaming experience (to date VR headset users need extra computing power at a cost of $5,000 upwards to play high-quality VR games at home)
  • All profits from these utilities will be used to buyback and burn 
Is now a good time to buy EverGrow or Cardano?

Crypto prices are low in the bear market this summer of 2022.

Cardano is trading at its lowest prices since January of last year. Cardano hit a macro low of $0.4 on May 12th and then again on July 13th. In the intervening months, the price of Cardano has risen to $0.65 but has spent most of the bear market trading between $0.45 and $0.55.

Cardano has the best percentage of total circulating supply staked to the network – over 71%. It also ranks as the most eco-friendly blockchain, the most stable (1,760 days without any outages), and was the first to use a peer-review process for updates.

The future of Cardano is bright. If you were waiting for a time to buy, now's that time.

EverGrow is also trading in a low range of $0.0000001 and $0.0000002 in late July. These are the lowest EverGrow prices since trading took off in late October last year. 

If you're looking to buy a cryptocurrency that offers some of the most rewarding and functional passive income on the market, now is the time to buy EverGrow before prices begin rising once more.

Read more about EverGrow, its roadmap, and price calculations on the EverGrow website.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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