COMMUNITY CONTRACT OWNERSHIP
EverOwn empowers both investors and developers to increase a project’s longevity after renouncement by allowing contract evolution with fixes and improvements through community voting and also giving owners the ability to add a second owner to the contract.
BUILDING TRUST IN YOUR COMMUNITY
Renouncing contract ownership is a core principle to build trust with a project’s community. Many new projects opt to renounce the contract to establish trust and attract new buyers.
The problem with renouncing the contract is that it is permanent. If the developer ever needs to patch exploits or to further development, they are unable to make changes. Renouncing ownership can also severely limit the growth of the project in the future.
EverRise is offering a solution to this major problem with The EverOwn Platform.
EverOwn fixes this issue by holding the contract within the decentralized application (dApp) on behalf of the community. If something needs to be changed or a problem needs to be fixed, the owner can reclaim it with a community vote.
Another advantage of transferring ownership to the EverOwn contract is that any new liquidity generated will be auto-assigned to the EverOwn contract.
This way, the owners can build trust within their communities, providing assurance that the newly generated liquidity tokens (not subject to the initial liquidity lock) are locked in the EverOwn contract, preventing a rug-pull by liquidity drain.
EverOwn aims to prevent common risks in early-stage projects and provide solutions to benefit creators and investors alike.
THE LEGACY PROVISION
As the crypto ecosystem matures, there are several major issues that will become more common. What if an owner loses access to the contract wallet? What if an owner abandons the contract entirely? What happens in the event of an owner's unexpected death?
The contract will intentionally or unintentionally become forever frozen and its ownership will forever be lost.
EverOwn allows a provision for the primary owner to set an alternate owner and specify a time period after which the alternative owner can request to reclaim ownership of the contract. Primary owners will have the ability to change the time period of the alternate owner’s eligibility.
Participating in EverOwn will bring an end to unintentionally dead contracts and premature renouncements, and thus contribute to projects' longevity.
EverOwn has a wealth of potential real-world applications waiting to be tapped by innovative entrepreneurs, as transferring contract ownership is fundamentally a method of transferring assets safely without the need for third party intermediaries.
HOW IT WORKS
An EverOwn contract will be created for every project that joins the platform, to give the owner the possibility to transfer the ownership to EverOwn.
Project owners will be able to transfer ownership to EverOwn by holding 100 billion RISE and paying a fee of 24 BNB. Ownership can be reclaimed by holding 100 billion RISE and paying a smaller fee (0.10 BNB) to initiate a community vote.
Investors will then vote on the EverOwn Platform return ownership of the contract. To ensure a fair and secure vote, and to prevent potential manipulation, voting power is proportional to the amount of tokens held of the voting power is equal to the amount of tokens a voter holds from the token he is voting for. This makes the voting fair and secure, and it prevents manipulation of the voting by any kind of bot.
After making the appropriate changes to the contract, owners are able to transfer the contract back to EverOwn for free to re-establish trust with the community.