SINGAPORE, Sept. 16, 2021 /PRNewswire/ -- The revolutionary DeFi dApp, EverOwn, has onboarded SafeEarn, a huge name in passive rewards to the crypto industry. This is the second smart contract to renounce ownership via EverOwn to their community, following in the footsteps of the product's creator, EverRise.
EverOwn is a unique solution to the DeFi contract ownership problem, which was launched on September 8th, 2021. EverRise's new ecosystem of decentralized applications (dApps) has the potential to be a game-changer in the crypto market.
The EverRise Ecosystem offers a dApps suite to provide security solutions for DeFi projects and investors. To let all investors have confidence that they are participating in legitimate initiatives, the EverRise dApp suite enables each opportunity to be closely examined by investors. Their goal is to provide investors control and confidence over their DeFi investments while also empowering developers to gain their trust.
One of the most difficult decisions that legitimate new projects must make is whether to relinquish contract ownership. Many new projects believe that breaking the contract early will build community confidence and attract new buyers, but the ownership, once renounced, cannot be taken back. The development team cannot patch or address exploits that may be found after bringing the contract onto the blockchain. EverRise's unique EverOwn platform solves this problem by retaining contract ownership to itself rather than the owners themselves so that the owner has the opportunity to reclaim the ownership with acceptance from the community.
Investors will then be able to vote on whether or not the contract owner is allowed to regain it. After the issue is resolved, the project owners can transfer ownership back to the EverOwn contract. This expands the EverRise ecosystem's use cases and provides more reasons to own RISE tokens.
Another benefit of moving ownership to the EverOwn contract is that any fresh liquidity generated will be auto-assigned to the EverOwn agreement, securing the liquidity and helping prevent a possible rug pull. EverOwn provides a solution for creators and investors alike, as withdrawing newly developed liquidity tokens that are not under the liquidity lock is a common concern in early-stage ventures.
The Crypto Company team further explains that EverOwn will provide an option to the primary owner to set up an alternate owner and specify a period after which the alternate owner can reclaim the contract ownership. This protects the contract from freezing indefinitely due to accidental loss of owner control on the agreement in adverse situations like the owner's untimely death or other inevitable conditions. The EverOwn platform will end the possibility of unintentionally dead contracts and premature renouncements, contributing to the project's longevity.
EverOwn's second project announced to use the platform is SafeEarn, the #1 growing passive reward project that revolutionized staking by introducing RBLOs, or Reflection Backed Liquidity Offerings. The innovative platform prevents shrinking APY%'s common with standard staking contracts and eliminates risk by rewarding in other tokens based entirely on volume.
SafeEarn launched publicly on July 18th and has amassed a large following by allowing holders to diversify their portfolios in partnered tokens received as passive income in addition to "reflections" in SafeMoon. Since its launch, SafeEarn has partnered with over 5 tokens and purchased nearly $3 million dollars in other tokens at market price to be reflected to holders. The SafeEarn ecosystem is built to thrive by ending cryptocurrency tribalism and extending open arms to projects that are safe and exciting for all investors.
With its vast range of dApps, the EverRise Ecosystem is determined to revolutionize the crypto industry with a solution to all investors' needs for a secure and dependable DeFi space.
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SOURCE EverRise Ecosystem