A Deep Dive Into Evaa Protocol

The emergence of DeFi has improved the chances of using blockchain technology in the creation of financial applications. Decentralized finance, or DeFi, has drawn a lot of interest lately as it has raised enormous sums of money for a variety of companies. Statistics show that the average revenue per user in the DeFi market will amount to US$1,378.0 in 2024.

From a global comparison perspective, it is shown that the highest revenue is reached in the United States (US$12,530,000.0k in 2024). In the DeFi market, the number of users is expected to amount to 22.09 million by 2028.

Decentralized finance lending, or DeFi lending, functions similarly to conventional bank lending but is enabled by peer-to-peer decentralized apps (DApps). People may borrow and lend money through these DeFi lending networks, which enables cryptocurrency holders to make large incomes.

The DeFi lending procedure is simple to follow. It uses a trustless mechanism to give crypto loans, enabling customers to safely lock their cryptocurrency assets on the platform without the need for middlemen. Peer-to-peer lending on the decentralized network allows borrowers to access loans directly.

Now let's talk about EVVA. EVAA is the #1 lending protocol on the TON blockchain, uniquely positioned as the largest and most user-friendly platform on the TON blockchain and Telegram. EVAA has the largest TVL (Total Value Locked) on TON. Users may lend and borrow digital assets without the need for a middleman. EVAA guarantees safe, open, and convenient transactions by utilizing the capabilities of smart contracts.

The protocol provides a straightforward user experience and is designed to connect easily with the TON ecosystem. Its integration with Telegram Messenger further enhances this experience. This lets customers easily manage their lending and borrowing operations inside a recognizable and often-used interface.

This article explores an in-depth overview of EVAA, emphasizing its innovations, technological developments, implications for developers and users, and future use of blockchain technology with possible effects on the decentralized finance (DeFi) ecosystem.

Who Is EVAA Designed For?

EVAA is a lending protocol specifically designed for Telegram users operating within the TON (The Open Network) blockchain ecosystem. With the help of this cutting-edge platform, users can easily lend and borrow digital assets, providing them with the opportunity to earn interest on their holdings or use them as collateral to obtain funding.

A key strategic step for TON's development in the DeFi arena is the addition of EVAA to the TON blockchain. By addressing TON's unmet requirement for a lending protocol, EVAA makes it easier for TON to compete with other DeFi initiatives that already have these features.

How Does EVAA Work?

• EVAA allows you to easily borrow crypto: The direct borrowing and lending of assets between people in the absence of traditional financial institutions is made possible by decentralized lending, which is what EVAA brings to the TON blockchain ecosystem. This solution creates a trustless environment with smart contracts acting as middlemen by leveraging blockchain technology.
• Earn passive income and rewards: Users deposit their tokens into a smart contract on the DeFi platform when they decide to lend their cryptocurrency. After that, this contract allows other people to borrow these tokens. The lender is compensated with native platform interest tokens that may be exchanged for the underlying assets later. This procedure increases the platform's liquidity while also giving lenders a reliable source of income.
• Asset reliability: Several advantages include more transparency, lower costs, quicker transaction times, and increased accessibility for a larger group of users. Furthermore, this arrangement lowers the possibility of censorship or control by a single party while providing financial services to areas that would not otherwise have access to them.

Similar Projects

Similar projects include Tarot, WePiggy, and AAVE. However, EVAA stands out with its advanced use of the DEX market.

EVAA has several benefits over its competitors. Its connection with the TON blockchain, which is well-known for its rapid and secure transactions, makes DeFi more effective and scalable. Notably, the TON blockchain became the fastest and most scalable blockchain in history on October 31, breaking previous records. Because of its distinctive design, it can scale infinitely and perform millions of transactions per second from billions of users, setting the bar for Web3 infrastructure excellence.

Furthermore, EVAA's user-centric design places a high value on security and simplicity, making it suitable for both novice and seasoned DeFi aficionados. In addition, EVAA intends to launch a Software Development Kit (SDK) that will bring cutting-edge and adaptable tools, guaranteeing the platform stays at the forefront of DeFi developments.

Features Of EVAA:

• Seamless Lending and Borrowing:
• High-Yield Investment Opportunities:
• Quick and Easy Access to Capital:
• Integration with TON Blockchain:

Key Innovations

Yield Farming: Users can participate in yield farming by providing liquidity to the platform and earning additional rewards.

Users can deposit assets with collateral on the EVAA protocol, which others can borrow. Interest rates are adjusted by the platform according to supply and demand, guaranteeing reasonable rates for every user. If debtors do not keep up adequate collateral, an automatic mechanism starts liquidation to safeguard lenders.

EVAA has a wide range of applications. Businesses may better manage their finances or protect themselves from market swings; individuals can earn interest or borrow money without having to sell their assets; and developers can include EVAA's features in their decentralized apps (DApps).

There are several benefits to the EVAA and Telegram connection, such as a smooth user experience and possible worldwide reach. Telegram bots, like @EvaaAppBot and @evaa_waitlist_bot, make user interactions simpler by letting users manage their accounts and set up queues, which improves the user experience in general.

EVAA protocol token

The EVAA token is the primary currency and representational asset within the EVAA ecosystem. The platform's ability to facilitate transactions, governance, and incentives depends on this token.

EVAA tokens serve as the primary medium of exchange and are utilized for lending and borrowing, facilitating quick and easy financial transactions on the platform. By lending their assets, users may earn interest in the form of EVAA tokens, which gives them a concrete incentive to engage with the ecosystem.

In addition, the platform's governance heavily relies on the EVAA token. By casting votes on suggestions and modifications to the protocol, token holders may take part in the decision-making process. By using a decentralized governance approach, the platform will develop in a way that best serves the needs of the community.

Token Use Case

Voting Rights: Token holders can propose or vote on changes to the platform, from adjusting minor parameters to major structural changes.

Delegated Voting: Those who prefer not to participate directly can delegate their voting rights to others, ensuring their voices are still heard.

Incentives: Users may be rewarded for voting or proposing beneficial changes to encourage active participation.

Tokenomics

Token Allocation & Vesting

The total supply of EVA is 50,000,000 EVA:

Treasury: 17%

Team: 16.5%

Shareholders: 17.5%

Liquidity Mining: 45%

Advisors: 4%

The leadership Team At EVAA

The leadership team at EVAA is composed of seasoned professionals with extensive backgrounds in technology, development, and business.

Artem, the Head of Marketing, has led the establishment of BlockCzech R&D Lab and TonanaDAO. He is also a TON Ambassador and the founder of TON Hub in Prague, recognized with the Hack-a-TONx DoraHacks award.

Vladislav, the CTO, has been a full-stack developer since the age of 13 and CTO of Tonana. With experience in multiple blockchain projects, he began developing on TON ahead of most developers and is also a Hack-a-TONx DoraHacks award recipient.

Alexander is a developer and entrepreneur, co-founding TONFT and Robinfood. He also created Learnbay and has won awards at Hack-a-TON x Prague and Hack-a-TONx DoraHacks. Eugen oversees business development and developer relations, co-founding Tonana and LAAABS. As a TON Ambassador, he has also been honored with the Hack-a-TONx DoraHacks award.

Uladislau, the COO and Technology Architect, has a robust background in finance and has led projects like Puzzle Lend and Sway Lend. He co-founded Pluto and has received the Hack-a-TONx DoraHacks award and the Econ High School Economics Prize.

Together, this team drives EVAA’s strategic vision, leveraging their diverse expertise to advance its position in the DeFi space.

Achievements

EVAA has achieved remarkable milestones, including sponsorship by the Ton Foundation and support from TonStarter and the In5 Incubator. The project has received funding from the TON Coin Foundation and Existing Capital. It has been recognized at DoraHacks.io for Hack-a-TONx and honored in the Telegram web app development competition. Additionally, EVAA was highlighted in FS Labs' TON DeFi research for Q1/Q2 2023 and introduced the #MotivationalProgram on the TON testnet. The team collaborated with HackenProof for a Bug Bounty program and won the TON. Vote with over 1,400 votes and successfully launch on ProductHunt. The project has also seen impressive user engagement, with over 180,000 registrations on the Mainnet Whitelist.

Official Website And Links

Twitter: https://twitter.com/evaaprotocol

Medium: https://medium.com/@evaaprotocol

Telegram: https://t.me/evaaprotocol

Website:https://evaa.finance/

Roadmap

The roadmap for EVAA began in December 2022 with the ideation and planning phases. By Q2 2023, the team had initiated Testnet v1, followed by the launch of Mainnet v1 in Q3 2023. In Q4 2023, they plan to implement a decentralized autonomous organization (DAO) for the BETA version. In Q1 2024, they will develop an SDK for applications, and by Q2 2024, they aim to expand the ecosystem with the development of a stablecoin for TON.

Finally,

EVAA stands out as a pioneering lending protocol within the TON blockchain, offering a seamless and secure DeFi experience. Equipped with a formidable leadership team, resilient technological advancements, and tactical integrations, EVAA is poised to fundamentally transform the decentralized financial terrain. EVAA intends to establish itself as a major participant in the DeFi industry by offering beneficial financial tools and possibilities to enterprises, people, and developers alike as it grows and develops. Visit the CoinGecko page, EVAA website, documentation, and community for further information.