EverRise APY  HITS  1200 PERCENT

24Jan 2022
The Guardian Reporter
The Guardian
EverRise APY  HITS  1200 PERCENT

The annual percentage yield (APY) of decentralised blockchain token EverRise hit a record high of 1200 per cent.

The annual percentage yield is the rate of return from an investment, showing how much an investor is going to earn from their assets. This yield also covers compound interest which grows with the balance, interest earned from the initial deposit as well as the interest earned on that interest.

The spike in the token's yield increase follows EverRise’s expansion of its token to the Polygon ecosystem cross-chaining between Binance Smart Chain and Ethereum.

The upgraded RISE token launched on three chains connected by EverBridge, a across-chain bridging dApp from the same company. 

This created a single circulating supply across the Ethereum, Binance Smart Chain, and Polygon network, allowing the RISE token to be used as a middleman transfer token between the three blockchains.

The expansion also introduced flexible, high yield staking into the EverRise ecosystem and made their security-centred dApps available to projects developed on any of these blockchains.

Launched on June 25, 2020, the cryptocurrency token is popular for introducing buybacks to the blockchain, EverRise recently recorded a daily transaction volume of over $2.7 million according to data collated by listing platform, CoinMarketCap.

EverSwap’s Native Coin Swap performs all transactions in the backend, creating a more streamlined process for users with the ability to receive new coins at block speed.-chain decentralized exchange (DEX).

EverRise is a blockchain technology company focused on increasing accessibility to decentralized finance by bringing security solutions to the space. The company provides investors and developers with the tools to safely penetrate the crypto market through an innovative ecosystem of decentralized applications.