Frequently Asked Questions
The core dev team members are NOT allowed to participate in the private sale or any portion of the presale. This prevents any one of the developers from holding a large and significant portion of the total circulating supply at any given time. This reduces the probability of a rug or a large dump on the market. To further prevent rugpulls or large dumps, dev tokens will be locked for a period of two years- a small portion will be unlocked every fiscal quarter during this time. The mechanics which will lock our tokens into our wallets is a concept called "reverse vesting"; this will allow us to collect BUSD rewards as compensation but will not allow us to sell or transfer the locked tokens that we hold. This is baked into the contract and will be verifiable on chain.
We have identified very fundamental issues with other rewards based tokens. We have also invested immense efforts in identifying other potential fundamental vulnerabilities and have built tokenomics to address each and every one of them. Our tokenomics are complex because the issues they aim to avoid are equally complex. However, the basic principles of the token remain incredibly simple to comprehend:
>>Receive rewards for simply holding tokens
>>Receive even more rewards when your tokens level up
We understand that there are some concerns with the complicated nature of the tokenomics. Rest assured that the complicated part of the tokenomics are on the back-end of the contract which makes the token viable long term. The tokenomics can be communicated rather simply via the basic principles, level up structure, etc. Most people don't understand the physics of the modern combustion engine, but that doesn't stop them from buying a nice car!
Funds from transaction fees are converted to BUSD and stored in the rewards fund. Once every week, the rewards are distributed out to all holders who qualify for rewards. Your reward rate will depend on how many tokens you hold and how long you've been holding them for.
This project prefers a weekly model over a daily or hourly model for several reasons.
>>Fewer transactions means reduced gas fees. Optimized gas fee efficiency means more of the rewards hit your wallet.
>>Helps reduce sell pressure during times of temporary price volatility.
>>Encourages holding to help reduce price volatility.
>>New buyers who have been holding for less than 1 week will not qualify for rewards for that week. >>This further increases the rewards received by all older holders.
>>Those who sell their entire holdings will not receive rewards for that week. This further increases the rewards received by all remaining holders.
>>Those who sell a portion of their holdings will get rewards proportional to the number of tokens they are still holding. This further increases the rewards received by all remaining holders.
Yes. There is a token leveling system built into the contract. The level of each of your tokens is determined by how long that token has lived in your wallet, as your token ages in your wallet, the level of that token increases and you unlock new features. We will reveal the entire level-up structure in time, but I'll tell you about the first three levels today (see image).
**There are additional levels and features which can be unlocked. These features will be geared towards utility case benefits and other systems. More will be revealed at a later date due to strategic concerns.
The Dev team has reserved 5% of the initial token supply for the team. These tokens, and their associated BUSD rewards, will serve as compensation for building and continuing to grow this project. The tokens themselves will be locked for a period of 2 years (12.5% unlock each quarter). This will be accomplished using a reverse vesting system and will be verifiable on-chain. The lengthy lock-up period demonstrates the commitment that the Dev team has to this project and this community.
Dev (founder) wallets receive rewards because devs are token holders just like everyone else. That BUSD belongs to whoever is holding those tokens so they can use it to buy food and survive another day to continue working on this project. This frees them up from needing a day job so they can focus fully on mooning the coin with marketing and added utility.
Your reward rate is calculated on a per token basis. For example, if you hold 100 tokens and you have 60 level 2 tokens and 40 level 3 tokens, you will receive:
>>60 tokens worth of level 2 rewards
>>40 tokens worth of level 3 rewards.
Selling works on a last in/first out (LIFO) basis and is contract automated. If you have 100 tokens which you've held for 90 days along with 20 tokens which you've held for 10 days but then you sell 30 tokens: You will deplete your most recently purchased tokens first before you start selling your older (and more valuable) tokens.
The contract does not include a buy-back and burn feature. The long term benefits of a buy-back and burn system are debatable and it leaves room for market manipulation and coordinated dumping. The contract does, however, have the capacity to burn tokens. Burning tokens does not immediately create a green candle or affect the price action, but does increase the value of each remaining token in the circulating supply.
There are burns with each and every transaction that takes place.
There is a large fund of tokens in the burn reserve. Unlike other projects, we don't immediately burn this reserve upon launch because that would only benefit the very early presale investors. Instead, a portion of these tokens are burned once every quarter without notice. The tokens in this wallet are locked and will only unlock a small portion each quarter for this burn.
No. This happens with other projects because their contract holds large quantities of their tokens and then sells them all at once when rewards are scheduled to be distributed. Our project accumulates BUSD (not the native token) in the contract with each and every transaction in the market. This means there is no big dip when rewards are distributed.
No. The smart contract handles all calculations and determines which wallets receive rewards, as well as how much each wallet will receive. The web3 component only assists in making the smart contract more efficient in terms of gas fees by assisting in transaction batching. The web3 component does not, and CAN NOT, ever affect the destination of funds or change the smart contract's internal calculations. Though the web3 component is not a threat to the project, the dev team understands the importance of decentralization and is working to integrate the functions held in the web3 component into the smart contract and eliminate the web3 component permanently. This will take considerable time to accomplish and we felt that it was not worth delaying the launch of the entire project for.
Firstly, because everyone loves money. Also, rewards are in part dependent on trading volumes. We have implemented several measures to enhance reward rates and the daily drop is one of them. The daily drop helps to encourage daily engagement. It's worth noting here that our trade functions are incredibly low. Don't worry, one of the biggest reasons for complex tokenomics is to drastically reduce trade functions so people are not afraid to buy, while simultaneously increasing reward rates. How is this possible? You'll understand when the whitepaper is revealed.
A little teaser if you're considering Evergrow or a different rewards token: Imagine if you could get a token with better rewards but no insane 14% trade fee. Well…. Soon, you can 😉
Yes. Your token level will reset if they leave your wallet for any reason. This includes buying, selling, transferring.