There is a new Meme coin in town and its EverGrow
EverGrow Coin (EGC), a new BSC-based token, has reached a $10 million market cap in just three days after its presale launch. According to a press release from the EverGrow team on Tuesday, September 28, EverGrow Coin (EGC) is a next-generation hyperdeflationary token designed to become scarcer over time.
The team pre-sold on September 25 on PinkSale with a total token count of 350,000,000,000,000,000,100 EGC, valued at 777,777,777,777,778 EGC per BnB. The maximum limit set for the presale was 450 BnB or about $150K. 50% of the EGC supply was burned at the time of its presale launch and withdrawn from circulation.
According to the press release, EverGrow completed its decentralized presale launch and reached its 450BnB cap in less than six minutes. The token was available for all to purchase on decentralized exchanges such as PooCoin and Pancakeswap.
EGC was listed on CoinGecko on September 27 and became the fourth largest winner in just 15 hours after listing. The token gained 500% in just 24 hours. On Tuesday, September 28, just three days after its launch, EGC reached the $10 million market cap milestone.
The EverGrow token is brand new and gaining popularity very quickly. It is a deflationary reflexive token that rewards its token holders and penalizes its sellers. Unlike popular compeitor Safemoon which rewards you with additional Safemoon, EverGrow rewards you with BUSD which is essentially US Dollars.
That is a pretty interesting concept. You can purchase a bunch now while it is cheap and if it survives, you could get a hefty dividend in US dollars. As you know from reading my blog, I am very pro Pancake Swap and Bincance Chain. I believe they are the right combination of corporation and Defi. They have profits in mind and they have an interest in protecting the value of BNB. As long as BNB gets spent and the value goes up, does it really matter if BNB is being spent on chain or being spent when you use the CEX?
I am not aware of any other coin that yields in a stable coin. That is pretty novel. I wonder how they are able to do it. Either they have a big fund backing them or I fear that they will go to try and sell their EverGrow token for BUSD and they won't be able to get any and they leave everyone stiffed.