Three blockchains, one circulating supply: DeFi project thinks big

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Three blockchains, one circulating supply: DeFi project thinks big

This DeFi company is based on three blockchains — and offers DApps that allow assets to be transferred across chains quickly.

A decentralized finance (DeFi) project claims it has become the first to upgrade protocols and launch on three blockchains at the same time.

EverRise offers a suite of security solutions that are all integrated through their bridge between blockchains — enabling assets to move freely and speedily from one network to another while also bringing an entire ecosystem across multiple chains. 

It now has a presence on Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (MATIC), and all three share one token with a single circulating supply.

The blockchain services company has invented a collection of decentralized applications (DApps) too. EverOwn enables projects to achieve decentralization and security by locking up their smart contract, meaning changes can only be made with a weighted community vote. Meanwhile, EverBridge facilitates cross-chain transfers around 15 seconds, eliminating fragmentation. In addition, EverBridge features a novel lock and unlock mechanism for their cross-chain transfers that provides security by removing the need for a mint and burn function for bridging, and the tech for these fast transfer speeds. 

EverMigrate assists projects that want to upgrade their smart contracts — delivering a secure platform where investors can swap their old tokens “in a single transparent transaction.” This DApp delivers many benefits. Not only does it eliminate the need for airdrops, but the streamlined process while keeping gas prices low — something that’s a primary concern for Ethereum users.

Coming soon

EverRise’s ecosystem is set to expand with a diverse array of additional DApps soon.

EverWallet will serve as a complementary tool to decentralized wallets such as MetaMask — ensuring that users will still be able to access their tokens even if their laptop or phone is lost or stolen. 

Also in the pipeline is EverSwap, a cutting-edge intermediary that enables tokens to remain safely in a user’s wallet while they are bought, sold and transferred. Upon launch, this DApp will be supported by PancakeSwap (CAKE) on Binance Smart Chain, Uniswap (UNI) on Ethereum and QuickSwap (QUICK) on Polygon.

Planned innovation doesn’t end here. Another DApp coming up is EverSale — a launchpad that will allow up-and-coming projects to stage presales, irrespective of whether they’re based on BSC, ETH or Polygon. A unique selling point here lies in how no tokens will be collected — with EverRise arguing “no project should fear a large sell-off when momentum gets going.”

Setting out its vision, EverRise told Cointelegraph: “When we think about the future of DeFi, we envision a space where investors can participate easily, while having peace of mind about their investments. We envision an industry where developers have access to the widest possible markets while being able to provide credible technological assurances that their projects are secure.”

It’s been a busy time for EverRise over the past six months. The company’s native token RISE has recently undergone an overhaul to ensure it can be staked and be on multiple chains with balanced liquidity — and simultaneously, its supply has consolidated from one quadrillion tokens to 72 billion.

EverRise has also been making full use of its own tools. EverMigrate has been deployed to help investors make the switch — and, as of early December, 97%of tokens have successfully migrated and 46% of the total supply is staked via EverStake.

Demystifying DeFi

Every single one of EverRise’s DApps is united by a common theme: giving DeFi users confidence that their investments won’t be vulnerable to bad actors. Given the number of high-profile hacks that have rocked the industry in 2021, this is something of a hot-button topic right now.

The project argues that eliminating existing pain points is crucial if DeFi is ever going to reach a point of critical mass adoption. And given how fast-moving this industry is, EverRise says its job is to ensure developers are equipped with the tools they need to keep up.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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