The information about the Everest ID (ID) token is derived from various online sources, including posts on X and websites detailing its purpose and functionality. Everest ID (ID) is a cryptocurrency token launched on the Ethereum blockchain, designed to serve as a utility and governance token within the Everest ecosystem. This ecosystem aims to bridge traditional finance and decentralized finance (DeFi) by offering a decentralized platform that integrates digital identities, electronic wallets, and a scalable payment solution. The token’s smart contract address on Ethereum is 0xebd9d99a3982d547c5bb4db7e3b1f9f14b67eb83, and it operates as an ERC-20 token, a standard for tokens on the Ethereum network.

The Everest platform comprises several key components that the ID token supports. EverID is a native biometric identity system that allows users to record, update, and share their identity information securely, emphasizing privacy and user control without requiring a mobile device or internet access. EverWallet is a multi-currency wallet that stores documents, credentials, and both fiat and cryptocurrencies, aiming to provide a unified solution for users globally. EverChain, a layer-2 ledger based on Ethereum, facilitates fast and cost-effective transactions, bridging to the Ethereum mainnet for broader interoperability. The ID token itself plays a central role by enabling access to these services, rewarding holders with incentives for participation, and providing voting and governance rights within the ecosystem.

Everest’s broader mission is to empower users and businesses by facilitating identity verification, account creation, and value exchange at scale, particularly for underserved populations. The platform has garnered attention for its partnerships, such as with Oracle Financial Services to enhance banking offerings and its recognition from organizations like the Ethereum Foundation and Visa. The total supply of ID tokens is fixed at 800 million, and it is positioned as a virtual financial asset available in over 170 countries, per legal opinions in Europe. Additionally, posts on X have highlighted integrations, such as with FTX, to allow EverWallet users to buy and sell crypto directly with fiat, underscoring the token’s utility in connecting global financial rails.

The ID token is distinct from another token in the ecosystem, CRDT, a regulated stablecoin pegged to fiat currencies for value storage and transfer. While CRDT focuses on stability, ID is the utility token driving network participation and access. Everest’s vision, as articulated by its co-founder Bob Reid, is to dismantle barriers of distance, time, and risk, enabling equitable access to financial tools worldwide. This information reflects the token’s intended design and purpose as a foundational element of a decentralized economy.