Like Cardano Staking? 5 Reasons You’ll Love EverGrow

Cardano staking went live on Coinbase earlier this 2022 – but Cardano OGs will have been staking since July of 2020.

Anyone wise enough to buy Cardano two years ago will be happy with their investment today.

The price of ADA is up from $0.1 to $0.5 two years later. Had these wise investors bought at $0.1 and sold during the ADA all-time high of $3.1 they would have enjoyed a portfolio growth of 3,000%.

Had they been staking their Cardano, the portfolio growth could have been 3,186%.

But check this out.

If you'd bought Cardano at any moment since January 2021, you would currently be in the red on your portfolio. This is the situation of at least three out of every four Cardano investors according to data from IntoTheBlock.

If this is you, here are five reasons why you should check out EverGrow.

1. EverGrow has generated ROI even as Cardano prices have fallen

Let's imagine the following scenario: you invested $5,000 into EverGrow and $5,000 into Cardano in early October last year.

Your $5,000 Cardano investment would currently be worth $1,140 – and that's including an estimated 84 extra ADA you had earned through staking at 4.6% APY.

Had you invested $5,000 into EverGrow you would be up in your position. But such a comparison isn't strictly fair as EverGrow only launched in September last year. But look at this. Without even considering your $EGC position value you would have earned $12,800 in passive income.

How does that work?

EverGrow is a reflection token that rewards all investors in Binance-Pegged USD stablecoins. Since the purchase in early October would have granted you 65.4 billion $EGC tokens – and daily trading volume has averaged $3,618,179 from last October to July in 2022 – you would have earned an average of $1,280 BUSD per month in passive income.

2. EverGrow rewards investors in stablecoins

When you stake your Cardano, you earn more ADA.

This can be very useful for when a bull market comes around and your extra ADA rewards are worth more. But it also means you're unlikely to use or sell your staked ADA rewards until the time comes to take a profit.

Given crypto analysts predict the next bull market might take until next year or even 2024 to come back around, that's a long time to sit on your Cardano.

EverGrow rewards in BUSD. The stablecoin currently has the third-largest market cap after Tether USD and USDC, and enjoys a huge range of spot pairs in the Binance exchange.

Crucially, stablecoin rewards mean that you have an extra source of passive income which holds its value whether a market is bullish or bearish. If prices collapse suddenly, that BUSD could come in handy to buy assets at ultra-low cases – for example, you could add to your Cardano portfolio.

3. EverGrow BUSD rewards grow with daily trading volume

Cardano trading on the official Daedalus or Yoroi wallets has a fixed APY of around 4.6%.

This is great for calculating your estimated ADA rewards.

But imagine if the ADA rewards increased when Cardano trading volume increased?

This is how EverGrow works. The reflection token charges a 14% transaction tax, with 8% redistributed as BUSD.

Let's go back to that $5,000 investment in the October example.

Back then, you could have bought 65.4 billion $EGC (this is after paying the 14% tax). Using one of the calculators on the EverGrow website we can see that with the average July daily trading volume of $200,000 you'd be earning just $2.36 a day.

But what about when EverGrow hit a peak daily trading volume of $62 million?

You would have earned $730.33 BUSD in a single day. If such a high daily trading volume could continue for a whole month you would have earned $22,000 BUSD.

That's without even touching your underlying EverGrow investment.

4. EverGrow is set for even greater daily trading volume

Everglow is building out a suite of applications in the bear market this summer of 2022:

• Soon it will launch its own NFT marketplace called LunaSky, built on the BNB Chain as a rival for leading NFT marketplaces built on the expensive Ethereum mainnet.
• Soon EverGrow will launch a content subscription platform called Crator, which will challenge leading rivals like OnlyFans and Patreon as the first crypto-network platform of its kind.
• By the end of 2022, The Abstract metaverse will launch the world's first cloud-streamed VR gaming arcade with the potential to attract VR headset users who do not have the required computing power to play high-quality VR games at home. EverGrow is the native token, and there will be a metaverse version of LunaSky as well as Crator and a virtual bank.

Crucially for investors, all profits from these applications will be used to buyback EverGrow and burn it permanently from the supply.

How can EverGrow afford to do this?

Each of the core team members already bought a large supply of EverGrow and they only take a salary from BUSD rewards just like any other investor. These team members regularly publish their wallet addresses so investors can audit that no EverGrow is sold from these wallets.

5. EverGrow is hyper-deflationary

Unlike Cardano, EverGrow is hyper-deflationary.

A 2% cut of the 14% transaction tax is used to buy back EverGrow and burn it from supply. Since launching in 2021, more than 53% of the initial supply has been removed from circulation.

This is called buyback and burn.

It means that EverGrow tokens themselves will continue to appreciate in value, while the size of your position (and % of BUSD rewards) will also increase over time.

It's an added benefit to the BUSD rewards we've just been looking at – and one that will come in handy years down the line if you ever decide to take a profit on your $EGC position.

But if you're enjoying the BUSD rewards, chances are you might just keep on HODLing.

Therein lies the major difference with Cardano – you don't ever need to sell your EverGrow to make a profit.

EverGrow is decentralised money done well.

If you like staking your Cardano, there's a good chance you'll love to get involved with EverGrow before it explodes in price.