EVAA Hits $1.4B in Transactions and 300,000 Wallets: Report
- EVAA Protocol processes over $1.4B in transactions and onboarded 300K wallets on TON
- EVAA operates entirely within Telegram, offering seamless DeFi access without external wallets.
- The EVAA token enables community governance, shaping the platform’s future and growth.
EVAA Protocol has now evolved on TON as the largest DeFi platform. It has processed over $1.4 billion in transactions and integrated more than 300,000 wallets. The EVAA token enables Telegram users to govern and co-own their own financial infrastructure.This shift moves towards a decentralized governance model, giving control to the community in this new phase of DeFi on Telegram.
EVAA’s origins trace back to the 2023 Hack-a-TON x DoraHacks event. The co-founder Alexander Sudeykin has presented one of the first DeFi lending dApp on TON. The goal was to take decentralized finance to the huge user base of Telegram. The protocol has since exploded, demonstrating that it’s possible for DeFi to flourish in the Telegram framework.
EVAA Redefines DeFi with Telegram Integration
It is an independent system that is built directly on Telegram Mini Apps, compared to other existing DeFi products. Users could deposit their assets, borrow against collateral and access yield strategies from within the app. This seamless integration simplifies the DeFi experience, as it does not require external wallets or complex interfaces.
EVAA’s rapid growth rate also exceeds that of similar protocols for other leading blockchains such as Ethereum and Solana. The user base is expanding in a telegram-integrated circle.
It is supported by leading investors like Polymorphic Capital, Animoca Ventures, and WAGMI Ventures. It has also undergone regular security audits from Quantstamp and Trail of Bits so that it is safe to use.
The protocol’s governance model is centred around the EVAA token. Key decisions such as risk parameters, new collateral types and treasury management are voted on by token holders. This transition to a decentralized model of protocol governance is an important milestone for the WAVES ecosystem. It provides everyone with a powerful tool, granting them a voice in its future development. The rise of EVAA also demonstrates the increasing popularity of community-run financial solutions.
EVAA Token Unlocks Benefits and Expands Access to DeFi
The EVAA token has multiple use-cases aside from governance. Through buyback and burn, token holders could participate in revenues while also decreasing supply and increasing scarcity. Stakers and liquidity providers are rewarded more, thus promoting active participants. Holders would also enjoy lower borrowing and liquidation fees which means reduced overall cost for the protocol.
EVAA is available on numerous exchanges such as Binance Alpha, MEXC and Gate. io. This wider accessibility makes it easy for users to obtain protocol and engage with TON’s DeFi ecosystem.
It also allows for frictionless exchange between TON and BNB Chain with Symbiosis Finance. The cross-chain transactions are secured by a number of validators like Binance Labs and Bixin VC, to validate that those are correct and efficient.
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One of the features under development is card payments. This would enable users to send cryptocurrency over traditional payment networks on Telegram’s platform. EVAA is also working on credit under collateralized loans. It aims to use Telegram’s social infrastructure for obtaining a loan with less collateral, to be more capital efficient.
According to EVAA’s CEO Vlad Kamyshov, the aim is to build out a full liquidity layer in Telegram. It would allow users to earn yield, borrow money and spend it all in one place.
With its $1.4 billion in transaction volume, EVAA is poised for growth. Its DAO architecture is live, giving ultimate control of the platform to the community. As EVAA continues to grow in its usefulness and capability, it stands out as one of the most significant showcases to date showcasing how DeFi could function inside a major social platform.
