In Brief:
- Everbridge will be launched on 5th October to Ethereum and Polygon networks.
- The tokens will be minted only when the contract is initially created.
- The launch of RISE/ETH and RISE/MATIC pairs will be fair, and there will be no presale.
The EverRise Ecosystem has completed construction on their bridge to Ethereum and they will launch Everbridge on 5th October 2021 to both Ethereum and Polygon networks.
According to the announcement, EverOwn will become available to Ethereum based projects on October 5th and Polygon projects on October 8th.
Generally, when a bridge is created tokens are minted and burned as they transfer back and forth. Everbridge is an exception. The only time that tokens will be minted is when the contract is initially created.
After the initial mint, the contract will not be able to mint any more tokens. This is a security measure they are taking to protect $RISE holders. If EverBridge ever becomes compromised to hack, the hacker will not be able to mint infinitely new tokens.
However, EverRise will create completely new smart contracts for Ethereum and Polygon. It will mint 1 quadrillion tokens for each contract. Immediately after tokens are minted, they will be moved over to their respective bridges and locked. This will allow it to keep the supply the same across Binance Smart Chain, Ethereum, and Polygon.
1% RISE/ETH tokens will be rewarded to holders, 2% for project sustainability and 3% for buyback strategic funds. 2% RISE/MATIC will be rewarded to holders, 3% for project sustainability and 6% for buyback strategic funds.
The launch of both the RISE/ETH and RISE/MATIC pairs will be fair launched. There will be no presales. The company will provide the initial liquidity for both pairs and will lock it immediately to EverOwn.
In Ethereum, the buybacks will happen automatically after every sale that is 1 billion RISE or more. While, in Polygon, the buybacks will happen automatically after every sale that is 100 million RISE or more.
They will also have the ability to convert ETH or MATIC into a stable coin to stabilize the charts even when markets are red.
Everbridge works on the basis that there are no taxes for the transfer to the bridge. There will be a small gas fee (gas fee will either be BNB, ETH or MATIC depending on which bridge you are using). EverBridge will be open for all projects on the Binance Smart Chain, Ethereum and Polygon networks.
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