Crypto volatility is a much-feared aspect of the crypto ecosystem, majorly responsible for slow crypto adoption. Many crypto projects tackle this challenge by using different security and stability mechanisms. However, BuyBack and token burn are amongst the most successful ways to ensure a constant price rise of the token, and that the token price is not affected by the market drops. EverRise is one of the most popular platforms which uses the BuyBack and token burn mechanism to ensure that RISE token’s price remains stable, even during market crashes. Token burn is a popular mechanism used by several crypto projects to decrease the circulating supply of a token and increase the demand and price. EverRise achieves this using a BuyBack contract called “The Kraken”, which automatically manages and initiates BuyBack periodically, to make token holding a lucrative opportunity for the investors. The Kraken by EverRise The Kraken derives its name from an ancient sea monster that swallows its competition whole. The Kraken from EverRise operates under the same umbrella and aims to create the most productive and optimized rewarding mechanism for the token holders. The Kraken acts as a safety net for RISE token holders and levies a 6% transaction fee to do so. On every transaction within the ecosystem, a 6% fee is collected by The Kraken to buy back and burn tokens from the circulating supply. This is done to reduce the circulating supp...
