EverRise launches EverBridge to Ethereum and Polygon networks

Singapore, Oct. 5, 2021. As the first token to bring the strategic buyback to crypto, EverRise is launching its second decentralized application (DApp) called EverBridge to bring its token and security-focused suite of DApps to Ethereum today and Polygon on Oct. 8th. 

Both the RISE token and EverOwn will be available on Ethereum at 5:00 pm EST on Oct. 5th (with RISE/ETH pair being fair launched on Uniswap) and will be available on Polygon at 5:00 pm EDT on Oct. 8th — with RISE/MATIC pair being fair launched on QuickSwap.

EverBridge allows for three RISE pairings, with one circulating supply, by utilizing a novel approach to the cross-chain bridge concept. EverRise created new smart contracts on Ethereum and Polygon with supplies locked within the bridge, allowing holders to transfer from one chain to another without paying a transaction tax beyond gas fees. For the launch of the new RISE pairs, EverRise will be sending tokens from the Binance Smart Chain to both the Ethereum and Polygon networks to allow for immediate trading.

The newly minted tokens from the new EverRise smart contracts are locked within EverBridge. As RISE tokens are transferred between networks, those tokens will become locked within their respective lockers and corresponding tokens are unlocked on the network that the tokens are transferred to, keeping the circulating supply constant among all three blockchains. This locking and unlocking mechanism of EverBridge makes it impossible for hackers to exploit a mint function to mint an infinite amount of tokens, protecting RISE holders across all three networks.

“Our mission at EverRise is to be security pioneers in the DeFi space and EverBridge is a huge step in allowing us to make the EverRise Ecosystem available to developers on the Binance Smart Chain, Polygon, and Ethereum networks,” commented Suresh Maddineni, CEO and founder EverRise

With the token coming to two new networks, EverRise is introducing separate strategic buyback reserves for Ethereum and Polygon with two new features. The strategic buyback reserve will now have the ability to swap the native token for a stable coin to better hedge against market conditions. The new buyback functions will also be automated to trigger after any sale above a certain threshold. Like the strategic buyback reserve on Binance Smart Chain, these reserves will be locked to their respective smart contracts and will only be able to buy and burn RISE tokens from the open market.

EverBridge is being made available to projects on Ethereum, Polygon and the Binance Smart Chain and is looking to connect to the other blockchains without the need to develop their own bridge. Projects interested in EverBridge or EverOwn can contact the EverRise team at partnership@everrise.com.

EverOwn, launched in September, allows projects to build trust within their communities by locking their contract and liquidity while retaining the ability to access the contract to make changes, fix issues, or apply for exchanges by unlocking the contract with a community vote. EverOwn also allows the contract owner to set a secondary owner to protect the longevity of the project and provide assurance to the community that the project will be able to be developed long term. 

About EverRise

A blockchain technology start-up committed to bringing security solutions to the DeFi space through an ecosystem of decentralized applications (DApps). EverRise was the first token to bring the buyback to cryptocurrency with the novel function that purchases tokens from the open market and immediately burns them. RISE tokens are required to utilize their DApps: EverOwn, EverBridge and more coming soon. EverRise aims to bring additional levels of trust, safety and security to Binance Smart Chain, Ethereum and Polygon space.

This is a paid press release Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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