Draft:EVAA Protocol
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Submission declined on 8 July 2025 by Snowycats (talk).
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This draft has been resubmitted and is currently awaiting re-review. |  |
| EVAA Protocol | |
|---|---|
| Developer(s) | EVAA Labs |
| Initial release | October 2022 |
| Written in | FunC, TypeScript |
| Operating system | Cross-platform |
| Platform | TON blockchain |
| Type | Decentralized finance |
| License | Open source |
| Website | evaa |
EVAA Protocol is a decentralized finance (DeFi) lending application on The Open Network (TON) blockchain that enables users to lend and borrow cryptocurrency assets through smart contracts. The protocol integrates with Telegram via Mini Apps.[1]
Overview
[edit]EVAA operates as a decentralized money market where users deposit assets to earn interest or borrow against collateral. The protocol's total value locked (TVL) peaked at $80 million in March 2025 before declining to $17 million by July 2025, according to DefiLlama.[2] The platform reports processing over $1.45 billion in transaction volume across 27,000 users.
Development
[edit]Development began in late 2022.[3] Following testnet deployment in 2023, the public mainnet launched in March 2024 as one of the first lending protocols native to TON blockchain.[4][5]
Technology
[edit]The protocol uses FunC-based smart contracts with isolated liquidity pools and integrates with Pyth Network, Redstone, and Stork oracles. A security audit was conducted by Quantstamp in 2024.[6] The protocol implements automated liquidation mechanisms, with 61 liquidators processing $10.9 million in liquidation volume across 4,050 events since launch.[7]
Funding
[edit]In January 2024, EVAA raised $2.5 million in seed funding from TONcoin.fund and Animoca Ventures.[8] In November 2024, a 100,000 TON incentive program was launched in partnership with the TON Foundation.[9]
Industry commentary
[edit]EVAA CEO Vlad Kamyshov has contributed analysis to major publications on DeFi market trends. In Forbes, he discussed macroeconomic factors affecting DeFi protocols and the evolution toward user-friendly interfaces.[10][11]
References
[edit]- ^ "EVAA joins TON Space through seamless integration". The Defiant. 5 June 2024. Retrieved 8 July 2025.
- ^ "EVAA Protocol - TVL and Analytics". DefiLlama. Retrieved 8 July 2025.
- ^ "Hack-a-TONx w/ DoraHacks Top 10". Dorahacks. Retrieved 8 July 2025.
- ^ "The State of TON DeFi Q1 2024". TopCo Medium. April 2024. Retrieved 8 July 2025.
- ^ "The State of TON DeFi Q2 2024". TopCo Medium. July 2024. Retrieved 8 July 2025.
- ^ "EVAA Protocol Audit Certificate". Quantstamp. 2024. Retrieved 8 July 2025.
- ^ "EVAA Protocol - TVL and Analytics". DefiLlama. Retrieved 8 July 2025.
- ^ "TON DeFi lender EVAA Protocol raises $2.5 million in private token sale". The Block. 24 Jan 2024. Retrieved 8 July 2025.
- ^ "EVAA 100K TON Incentive Program". TON Blog. November 2024. Retrieved 8 July 2025.
- ^ Kamyshov, Vlad (24 April 2025). "The end of DeFi's Wild West? How 2025 could change everything". Forbes. Retrieved 8 July 2025.
- ^ Kamyshov, Vlad (16 June 2025). "Real Yield or Real Illusion? The Next Chapter of DeFi Depends on This One Shift". Forbes. Retrieved 8 July 2025.
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