A Brief Guide to the EverRise DeFi Protocol

A Brief Guide to the EverRise DeFi Protocol

A Brief Guide to the EverRise DeFi Protocol

EverRise is an innovative decentralized finance (DeFi) protocol offering bridging and security solutions across multiple chains.

EverRise launched in June 2021 with the mission of creating a safer and more transparent space in DeFi.

Furthermore, the EverRise ecosystem is a collection of decentralized applications that provide multi-chain security solutions. Protocol services and dApps are available to other DeFi projects and individual users.

In December 2021, EverRise launched version 2.0 to bring the ecosystem to more blockchains. The ecosystem is powered by the RISE utility token which is available on the Ethereum, BNB Chain, Avalanche, Polygon, and Fantom networks. Additionally, the RISE token must be held in order to use the ecosystem of dApps.

Interested in learning about the #EverRise team and how our mission and vision are making #DeFi and #web3 a more secure space?

Visit https://t.co/2mSvqzfgZZ today.

— EverRise (@EverRise) July 21, 2022

EverRise Components

EverRise consists of four primary services:

EverOwn


EverOwn provides a security and decentralization solution for DeFi projects. It achieves this by locking the smart contract and newly generated liquidity on the blockchain in a “locker.” The locker is accessed via a weighted community vote.

Its decentralization method protects from exploits and attacks. It also offers more flexibility for developers to continue updating their protocols.

EverBridge


EverBridge allows projects and individuals to move across supported networks securely. Tokens are bridged across several blockchains and can be traded on multiple networks with one supply. Additionally, there is the possibility of sharing a consistent circulating supply across all chains.

Did you know?#EverBridge uses a lock-and-unlock method to more securely let tokens go cross-chain. Mint-and-burn bridges create a vulnerability that has been the source of numerous exploits recently seen in crypto.

🌐 Learn more: https://t.co/NsVAaSU7Zu pic.twitter.com/bBIK8ibq3I

— EverRise (@EverRise) July 22, 2022

EverMigrate


EverMigrate is a solution for projects wanting to upgrade their contracts. It provides a secure platform where projects can swap old tokens for newly upgraded ones. Moreover, the process is wrapped in a single transaction for extra transparency. “Old tokens go in, new tokens come out at a fixed specified conversion rate.”

EverStake


EverStake is part of the platform’s NFT Staking Lab. It offers on-chain NFT staking with assets that are tradable, bridgeable, and transferable across five blockchains. Staked NFTs earn a share of the tokens purchased through the EverRise automated buyback protocol.

Additionally, EverRise offers an EverLaunch pre-sale launchpad for projects. There is also EverSwap, which is a cross-chain token swapping platform.

RISE Token Price Outlook

The native token for the platform, RISE, has dropped 4% on the day. As a result, it was trading at $$0.00068022 at the time of writing. There are 71.5 billion tokens in circulation, giving it a market cap of $48.6 million.

RISE has made 30% over the past fortnight. However, the token is down 64% from its December 2021 all-time high.

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