In the crypto universe, there are thousands of crypto projects, but only a few of them survive the market’s wrath, waning numbers of new users, and harsh criticism from non-blockchain experts. There have also been many reflection tokens that came before CardanoEvo, but this is the first ADA reflection token.And CardanoEvo’s team says you shouldn’t view it as a meme-coin, but an up-and-coming altcoin.Let us delve deeper into this project and unfold what it has to offer to better understand it.
CardanoEvo is a revolutionary project that has been operational for a few months (starting May 2021). But that has not stopped it from delivering over-the-top performance. Having already paid out over 1/2 million dollars’ worth of Cardano rewards to investors, CardanoEvo strives to mirror the ethics, transparency and charitable status of Cardano. Since the beginning, the team behind CardanoEvo built a strong and supportive community inclusive of investors who are interested in the long-term performance of this particular project.
- CardanoEvo is based on the BSC blockchain which is a smart contract that stands for frictionless yield and liquidity generating.
- The blockchain rewards holders with reflections in Cardano that are funded by transaction taxation.
- The CardanoEvo token also comes with in-built investor protection which means there is a limit on how many tokens a wallet can hold and transact.
- There is an anti-bot function embedded in the fabric of CardanoEvo to avoid running into hackers and scammers.
- Panic sell-off and hoarding which are inevitable woes of several crypto projects are discouraged in CardanoEvo smart contract.
- There is an auto-added liquidity option that adds 3% of each transaction into liquidity providing.
- Burn functions are not automatically activated but require manual indication so that deflation can be maintained when it is needed.
- The Cardano evolution ecosystem applies a 15% ‘buy’ and a 17% ‘sell’ fee to each transaction respectively. Wallet transfers are also included in this fee which has several functions.
- The various functions of the CardanoEvo smart contract help stabilize token price and thus the market capitalization.
Detailed Tokenomics Data:
Cardano is already one of the most prominent cryptocurrencies due to its decentralized nature and use-cases. But cardanoEvo in itself has an interesting token model that we have explained below:
The CardanoEvo token’s majority (around 66.4%) is available on Pancakeswap. Developer wallets make up 2% of the total. The taxation model requires all buy transactions to bear 15% tax out of which 5% goes to marketing wallet, 3% to enhance liquidity, and 7% to Cardano token reflections. On the other hand, sell transactions levy 17% of sell tax out of which 8% is used for Cardano token reflections, 3% for liquidity, and 6% for marketing wallet.
The way the members of the community of CardanoEvo, contract, and the token reflections communicate with each other is exemplary and it unfolds as follows:
- Investors put capital into a project
- A tax is collected for each buy/sell transaction
- A fraction of the tax goes to the buyback system
- 7% of the remaining taxes are swapped into Cardano to be redistributed among holders.
CardanoEvo token is under the process of getting listed in several well-known crypto exchanges and is already listed and traded on Coinsbit. For now, you can track all information of the token at CoinMarketCap, Crypto.com, Coinbase, and on Trustwallet.
What is EvoSwap Beta?
EvoSwap is a decentralized exchange that the CardanoEvo dev team has launched in its Beta mode. It is a system that would allow the swapping of cryptocurrencies. Using EvoSwap, any crypto can be swapped on the Binance Smart Contract.
According to the official notice, EvoSwap Beta is the first stage in the EvoSwao system. This decentralized exchange platform by the CardanoEvo team would also support future staking and more pairings in the days to come.
Roadmap of CardanoEvo
A glance at the project’s ambitious roadmap and achievements completed tells us that CardanoEvo has a long way to go. According to the roadmap available on their website, the project has already completed its phase 1 & 2. It is currently in phase 3 at the moment and the dev team has planned until phase 5 of this unique project. Information regarding the upcoming phase would be released soon.
During phase 1 of its development, CardanoEvo achieved the following:
- Token design & collaboration with associated contract designers
- Draft whitepaper and creation of a roadmap
- Confirmed the leadership team to guide the project.
- Created International and ancillary boards along with Telegram main.
- Started negotiations with influencers
During phase 2 of its development, CardanoEvo achieved the following:
- Launched main website design
- Social media presence built
- Released the whitepaper
- Completed contract testing
- Marketing campaign awareness
- Applied to CoinMarketCap and Coingecko
- Added Cardano news blog
- Coding started for EvoSwap DEX
- Coding started for EvoNFT marketplace
- Held AMAs in various Telegram group chats
Now in phase 3 of development, CardanoEvo is working on improving its service to cater to professional investors and all other community members. By now they have already;
- Launched daily AMAs
- Applied on Blockfolio App
- Completed listing on Coinhunt and Gemfinder
- Applied for Binance Smart Chain
Upcoming Plans for CardanoEvo
The best thing about CardanoEvo is its constant evolution. So far, CardanoEvo has launched its official website, EvoDashboard, EvoSwap beta, and also a merchandise store.
Prior to the end of 2021, the team is wrapping up some extremely ambitious enhancements and features to the CardanoEvo ecosystem includomg;
– Updates and enhancement to EvoSwap
– Staking abilities
– Additional currency pairings within EvoSwap
– NFT Marketplace
– A new companion utility token
– A new buyback mechanism
– A new boost mechanism
And while the CardanoEvo team won’t go into specifics, they say two of the upcoming releases before the end of 2021, will include features never before seen on the BSC.
Being a community-led project, CardanoEvo shows immense potential to grow into something useful for investors professionally, ethically, and legally.