What are BUSD Reflection Contracts?
BUSD Reflection Contracts allow investors to earn automated yields and passive income by holding certain tokens on the Binance Smart Chain Network.
This token design was popularised by EverGrow Coin, which works via a yield farming liquidity generation protocol that allows you to earn BUSD from simply holding EverGrow Coin ($EGC) tokens.
The EverGrown Coin allows you to earn free BUSD tokens through their BuyBack and Burn program, which takes 2% of the network transaction fees to buy BUSD off the market and distribute it to EGC token holders. This BuyBack and Burn mechanism is otherwise referred to as a 'Reflection Contract'.
Are Reflection Contracts on BNB Chain Safe?
There are always inherent protocol risks when it comes to earning free money in crypto. While EverGrow and other reflection tokens like EverReflect are safe and have been working for the last few months, it is only a matter of time until it unwinds.
If you are interested in getting involved with reflection tokens on BNB, we recommend staying in one coin for no longer than 1 month. We typically start to see these protocol unwind after 30 days.
How much can I earn in BUSD with EverGrow Reflections?
As at time of writing, EverGrow's reflection contract allows for EGC holders to earn up to 8% APY paid out in BUSD tokens. This means that if you are holding $10,000 EGC tokens, you will get paid out $1,500 in BUSD tokens per year.
This is a great yield considering that BUSD is a stablecoin and does not have any inherent protocol risks or price risks.
Alternative BUSD Reflection Tokens on BSC
If you are looking for alternatives to EverGrow's reflection contract and token, we would recommend EverReflect. It is effectively the same design as EverGrow, but it is in a much earlier stage in its life cycle.
Remember, you can play the ponzi games - but you have to be early!
EverGrow Coin Price
The chart below is the live price of EverGrow Coin (EGC) in USD.
EverGrow Coin Price Prediction
The price of EverGrow coin has taken a pretty large hit since its launch in late 2021. As at time of writing, it is currently 88% down from its all-time high price of $0.00003 in November of 2021 and will unlikely hit new highs.
This 'ponzi' like mechanics generally crash after a certain period of time as participants start to lose faith in the system. We believe that EverGrow will never hit its all-time high price again.