EverRise token explained and similar forks

EverRise ($RISE) the hyper deflationary token explained

We have talked about Binance Smart Chain in many articles lately due to its huge increase in popularity. In early 2021 we saw a new type of token starting to gain traction called SafeMOON. It was the first of its kind with the unique liquidity conversion and instant reflection to its holders. Following SafeMOON we saw thousands of new forks get launched on BSC. Up until June 2021 it has been the most popular token seen on-chain but that will come to change when EverRise first came out in mid June 2021. If you are interested in reading more about EverRise ($RISE) we have it listed in our cryptocurrency list.
“EverRise token holders are not only benefited through static rewards but also by the Buy-Back process of the contract. As part of Buy-Back process, contract takes care of buying back some of the tokens and burn them whenever a sell happens. In a nutshell, 98% of the time, you will not see 2 sell transactions at any time and there will never be three sell transactions continuously at any time.”

What makes EverRise special?

EverRise first feature is the reflection of all the holders that appears on each transaction. This is not unique to EverRise; it was first seen on SafeMOON and has been a huge success, so they kept it in the EverRise token. What makes it unique is its buy-back feature that is triggered on each sale if enabled. Instead of converting tokens into liquidity, the EverRise token accumulates BNB to its contract address that is used to buy back and burn some tokens for each time a sell occurs. We have seen EverRise do some big rapid buybacks to burn a larger amount of tokens as part of this feature as well. 

Security risks with the tokenomics

As with most tokens that you find on-chain, there are some risks with investing. The EverRise token overall is well built and has no security risks in itself. However, since it does not convert liquidity, the token is easier to push in both directions, making it quite volatile. As with all tokens if you are looking to buy a fork make sure that the initial liquidity is locked or burned and that the tokens have not added any malicious functions to be able to withdraw the money from the contract. 

Note: We are not financial advisors, accountants or lawyers. Any information provided on this website or via emails is not intended as investment or financial advice. It is merely information based upon our own experiences. The information we present is of a general nature and should merely be used as a place to start your own research and you definitely should conduct your own due diligence. You should seek professional investment or financial advice before making any decisions.