Blockchain technology firm EverRise has announced that it is all set to launch EverBridge, a decentralized application for Polygon and Ethereum networks. The prime aim of EverRise is to expand its ecosystem and boost security in the DeFi space to safeguard $RISE holders.
This is why the blockchain startup has adopted a unique security measure that allows the minting of tokens only during the initial creation of contracts. In typical scenarios, tokens can be minted and burned as they move back and forth between chains. However, EverRise limits the minting function to the initial mint.
Smart contracts to lock supply of tokens
Most notably, EverRise has come up with new smart contracts which restrict the supply of tokens to their respective bridges. This saves $RISE holders the hassle of bearing heavy transaction taxes when transferring tokens across chains.
The best part is that the mint function is highly secure and is not vulnerable to exploitation by hackers. Even if the most proficient hackers somehow manage to break into EverBridge, minting infinitely new tokens would be next to impossible.
EverBridge will facilitate the availability of EverRise’s comprehensive suite of DApps to both blockchains, namely Polygon and Ethereum (ETH). As of now, EverBridge utilizes a multi-chain bridge concept and offers support for 3 RISE pairings.
What’s noteworthy is that EverRise has emerged as the first company in the crypto sphere to have introduced the unique idea of a strategic buyback mechanism.