Everscale’s native coin, EVER, has several derivative assets that empower it with additional utility. In this article, we will explore all three of these TIP-3 fungible tokens: Wrapped EVER (WEVER), Staked EVER (StEVER), and Locked EVER (LEVER), and explain the key benefits behind each one.
How Can You Use Wrapped EVER?
WEVER serves two key functions in the Everscale ecosystem: it substitutes EVER in FlatQube liquidity pools, and determines the voting power in Ever DAO, Everscale’s governance tool. To learn more, read our article about the WEVER token.
FlatQube, Everscale’s primary decentralized exchange (DEX), allows users to swap tokens through liquidity pools. By contributing crypto to these pools, users earn trading fees and farming rewards. WEVER dominates FlatQube’s liquidity pools with the highest total value locked (TVL), making it a top choice for experienced DeFi users.
In Ever DAO, WEVER is needed for defining the voting power, with one token equaling one vote. Even after Everscale went through a reform of its governance lately, Ever DAO remains the main decision-making platform in Everscale, with over 120 proposals considered to date and more than 19 million WEVERs locked in the voting contract at the time of writing.
Where to Obtain WEVER
Getting WEVER is straightforward. The first option is to use the official Wrapped EVER website, where you can connect your SparX wallet installed as a Chrome extension, and exchange native EVER to WEVER (or vice versa) in a few clicks.
You can also perform the same operation on FlatQube. To do that, go to the “Swap” page and choose any asset you want to exchange for WEVER. Apart from EVER, it can be StEVER, USDT, BRIDGE, or QUBE, or any other crypto asset traded in the protocol.
Elevate Earnings from Staking in Everscale with StEVER
The second character in our story, StEVER, essentially enables the liquid staking in Everscale. Liquid staking is a DeFi technique: instead of simply locking your crypto to earn interest, you also get its derivative in return that you can further use (hence the term “liquid”.) Probably, the most prominent example of such liquid staking protocol is Lido, which allows you you to stake native ETH and receive stETH tokens.
Similarly, StEVER made staking in Everscale more lucrative. Instead of simply locking native EVER in one of the depools, you receive StEVER tokens according to the size of your stake.
Note, however, that the exchange rate for StEVER and EVER is not 1:1, as in the case of WEVER, but slightly different. The current rate is indicated on the Staked EVER’s homepage, so you won’t miss it. For instance, in February 2025, 1 StEVER was equal to around 1.1 EVER.
How to Get StEVER and Where to Use It?
One way or another, there is no reason why you shouldn’t pick Staked EVER over classic staking. The easiest option to participate in liquid staking is through SparX crypto wallet where you most likely store your Everscale cryptocurrency.
Specifically, this service is available both in the wallet’s mobile app or Chrome extension. Simply push the big “Stake” button on the main screen, as seen on the screenshot:
Specifically, this service is available both in the SparX wallet’s Chrome extension that we mentioned earlier, as well as its mobile app. Simply push the big “Stake” button on the main screen, specify the amount to stake in the new window, and confirm the operation. You will receive StEVER tokens shortly after, while your EVER coins will also start making returns by helping validate the network.
Another way is to use Staked EVER’s website. First, you will need to connect your wallet with some EVERs in it. After that, the page will show you the exchange window. Write down the amount of EVER coins you want to stake, and confirm the operation.
Saving Everscale with LEVER
The last token on our list, LEVER, is remarkable for a truly pivotal role it played during hard times. Read more about the LEVER token and rationale behind it in our blog post.
Here is the short recap. By the mid-2022, Everscale had come near the deadline for executing financial commitments to initial members and business partners that totaled around 50 million EVER. However, at that time, the cryptocurrency market was dominated by bears, with no certainty in sight. Consequently, Everscale experienced serious selling pressure for its native coin, and the upcoming distribution threatened to further tank the EVER’s price.
To abide by business agreements yet avoid selling EVER to the market, major network contributors came up with a brilliant idea. They proposed to issue a special token called Locked EVER, or LEVER, and distribute them among companies and investors awaiting the payouts instead of EVER, with a lock-up period of 2 years. After its expiration, LEVERs can be converted to EVERs, with 1 LEVER pegged to 1.2 EVERs securely stored in the network treasury.
This plan was warmly supported by the community, which officially approved the corresponding proposal in Ever DAO. Around 60 million LEVERs were minted to execute the initiative. Besides, some amount of LEVERs was allocated to bounty programs and community contests.
Essentially, by its role LEVER has become the first blockchain-based corporate bond in the form of cryptocurrency, getting Everscale through financial difficulties, while ensuring no one is left behind.
In October 2024, the LEVER’s lock-up period had come to an end. Following obligations, the Everscale community successfully launched a special pool on FlatQube for swapping LEVER to EVER for token holders. By October 4, 2024, about 40 million LEVERs were exchanged.
LEVER became a perfect showcase of Everscale’s investment appeal and reliability, as well as the project’s capacity for working out new financial instruments in the blockchain space.
Conclusion
A story of EVER’s “avatar” tokens demonstrates that innovativeness in the blockchain space is only limited by creativity and technologies that enable it. Unlike most other networks, Everscale adopts an extremely programmable approach to smart contracts, which makes it possible to configure a fungible token for various purposes. We are confident that these tokens will not be the last to bring real value and economic innovation to Everscale.