EverEarn ($EARN) originally launched on BSC blockchain in January 2022, and then on ETH blockchain in November 2022, and is presently in the process of getting launched on POLY. But why is EverEarn focusing on getting onto multiple blockchains, instead of focusing on something else, like say perhaps more app development? Are BSC and / or ETH blockchains being abandoned? Is the team just trying to push out as many versions as possible as a way to seem like they are doing something? Launches cost money, so why not put that money to possible better use such as more advertising or marketing? How does being on more blockchains benefit current BSC and ETH holders?
All good questions, and it’s no secret that most markets…crypto, retail, stocks, real-estate, and most others, have all going through very tough economic conditions for some time now. This has been largely due to the macroeconomic effects of record high inflation, ongoing supply chain issues, energy uncertainty, global instability, and more. And while we have seen recent positive moves within the crypto-space, economists around the world continue to sound alarms of continued difficult financial times ahead, with worsening conditions.
Single Points of Failure
When you rely upon just one of something in order to make a difference, you have a ‘single point of failure’. What happens when the one server that runs your business goes down? Or the one vehicle you reply upon has engine trouble? Or the one internet connection in the home goes down? A single point of failure means that when something unexpected and negative happens to it, everyone is affected negatively.
Existing on only one blockchain makes us completely reliant upon what happens within that one environment; it’s a single point of failure. If that blockchain has a bad day, one of its primary bridges is compromised, or it is targeted by a government organization, then everyone on it experiences the full negative impact. Existing on multiple blockchains, acts as fail safes and redundancies, wherein a single negative instance may not affect all blockchains, thus mitigating the overall negative impact to the project and the holders. Being on multiple blockchains ensure the widest access and exposure to the largest pool of possible investors. Like a real-world brick-and-mortar business, this additionally ensures it’s easier for potential new ‘customers’ to find us, and reach us. The more accessible we are to crypto investors, the greater our long-term chances of success.
Raising Money for Purpose
The money needed to launch on on additional blockchains, is being raised through a private whitelist presale, and a public presale. Money isn’t being syphoned from the other blockchains that could otherwise be put towards other uses. That said, crypto projects, like any brick-and-mortar business, do need money in order to operate; advertising, marketing, development, partnerships…these all require money, and that need doesn’t go away. There are ongoing monthly operational costs associated with running a crypto project; websites, webhosts, API and development servers, dashboard servers, software subscriptions, domains and security certificates, security tools, firewalls, and the list goes on. But existing on multiple blockchains provides the opportunity to gain greater access to more investors and therefore more money, for less effort, and less cost.
Buy More, Pay Less
Anyone who has ever gone grocery shopping will tell you, that the individual price of something decreases when you buy more of it; you can buy one can of Coke for $1, or a case of 12 for $6 (for example). The same thinking holds true for many other items; The cost of advertising EverEarn as a project doesn’t go up just because we’re on multiple blockchains, and therefore we get 2, 3, 4 or more times the value for the same cost. The similar applies to development; yes, the cost does increase to develop for multiple blockchains, but the cost don’t double or triple…it only goes up marginally, therefore development costs less overall, per individual unit, and more development can be afforded.
Investors on any blockchain directly benefit from EverEarn being on multiple blockchains, because being on multiple blockchains provides the greatest odds of long-term success, by being exposed to the widest audience possible, regardless of market conditions. Launching on multiple blockchains is a foundational move for EverEarn. If the larger markets continue to remain suppressed through the year and beyond, EverEarn wants to ensure it can continue to ride through the storm, and not end up alongside the hundreds of crypto projects that have already collapsed…or those on the verge of collapse due to the current economic storm.
The move to launching on multiple blockchains, is specifically with the best interests of our holders in mind. It is to leverage the best advantages of each to the fullest extent possible. Additionally, the move to being on multiple blockchains does not slow the progress of other development, such as the development of our next-gen zero-trust crypto listing site, which is occurring in tandem.
Presently the $EARN POLY public presale is in progress on our self-hosted site, and available for public participation at https://www.everearn.academy/promotions/earnpoly