EVAA: TON’s First DeFi Protocol and Its Community DAO

EVAA: TON’s First DeFi Protocol and Its Community DAO

Welcome to the DeFi revolution with EVAA, TON’s first decentralized finance (DeFi) protocol that is transforming Telegram into a dynamic financial ecosystem. With over $1.4 billion in transactions and 300,000 wallets, EVAA has not only redefined access to financial services, but has also handed over control to its community through a governance model powered by the $EVAA token.

A Journey from the Hackathon to a Protocol Valued at One Billion

EVAA’s story began at the 2023 Hack-a-TON x DoraHacks, where its co-founder, Alexander Sudeykin, introduced one of the first lending applications on the TON blockchain. Since its conception, this prototype has had an astonishing impact on Telegram’s native DeFi adoption, offering a familiar interface that avoids the complexity of traditional protocols operating on Ethereum or Solana.

The Native Telegram Advantage

Most DeFi protocols require users to navigate complex interfaces and external wallets. However, EVAA is structured entirely within the Telegram Mini Apps, allowing users to:

• Deposit assets
• Take Loans
• Access performance strategies without leaving your daily messaging app

This approach has allowed EVAA to quickly capture the DeFi market on the TON blockchain, making it easier for all Telegram users in the world to use.

Community Ownership Through the $EVAA Token

The $EVAA token is not simply a utility tool, but a coordination mechanism that grants holders control over the future of the protocol and allows them to share in its success. The key features of EVAA’s community governance include:

• Governance Rights: Token holders vote on crucial protocol decisions, such as risk parameters, new collateral types, and fee structures.
• Income Distribution: The revenue generated by the protocol funds a buyback and burn mechanism that benefits holders by reducing supply and increasing scarcity.
• Improved Performances: Stakers and liquidity providers earn increased returns, incentivizing active participation in the ecosystem.
• Cost Benefits: Token holders enjoy reduced fees on loans and settlements, making the protocol a cheaper option for active users.

Accessibility for All

$EVAA is traded on major platforms such as Binance Alpha, MEXC, STON.fi, and Gate.io, ensuring that everyone can participate in TON’s DeFi ecosystem. Through Symbiosis Finance, $EVAA is also exchanged between TON and BNB Chain, allowing users to swap tokens without any hassle.

Beyond Borrowing: The Future Vision

EVAA’s roadmap includes innovations that go beyond traditional DeFi. Users can now access lending and yield strategies through @EvaaAppBot or app.evaa.finance. However, future features include:

• Card Payments: Allowing users to employ crypto through traditional payment networks within Telegram.
• Undercollateralized Loans: Leveraging Telegram’s social infrastructure and reputation systems to make loans more capital efficient.

Join the DAO

Ready to be a part of TON’s leading DeFi DAO? Start using EVAA through @EvaaAppBot or app.evaa.finance, acquire $EVAA tokens on platforms like Binance, and participate in governance discussions to shape the future of Telegram’s native finance.

EVAA is paving the way for a financial ecosystem where earning, borrowing, and spending all happen in one place.

For more information, visit the original article on TON Blog.