EVAA PROTOCOL – THE FIRST LENDING PROTOCOL ON THE TON BLOCKCHAIN

I. EVAA Protocol Ovevriew

About EVAA Protocol

EVAA is a decentralized lending protocol built on the TON blockchain. It enables users to lend and borrow crypto assets without relying on traditional financial institutions.

The main objectives of EVAA

• Stimulate economic activity within the TON network by creating a lending marketplace.
• Empower users by providing them with tools to lend and borrow directly from each other.
• Expand the TON ecosystem by attracting more developers and users.

Benefits of EVAA

• Decentralization: Safe and transparent peer-to-peer transactions.
• Security: Built on a robust platform to safeguard users’ assets.
• Integration with Telegram: User-friendly platform with global accessibility.
• Innovation: Provides tools for building future DeFi applications.

EVAA chooses to develop on the TON blockchain for several reasons:

• Scalability and Speed: TON offers unparalleled scalability, meaning it can handle large transaction volumes without compromising speed. This is crucial for DeFi applications, which often involve frequent and complex transactions.
• User-Friendly Environment: TON is designed to be user-friendly, making it easy for developers to build DeFi applications accessible to a wide range of users.
• Robust Platform for Development: TON’s integration with Telegram, a messaging platform with millions of users, provides DeFi projects with a ready user base and global reach.
• Focus on Sustainability: TON is committed to practicing sustainable blockchain, which may appeal to environmentally conscious DeFi projects.
• Supportive Ecosystem: The TON community provides numerous resources and support programs for developers, including liquidity incentive programs and hackathons. This can help DeFi projects attract and thrive within the TON ecosystem.

→ With EVAA pioneering the Telegram app, it gains access to an incredibly large user base. Currently, Telegram boasts 196 million daily active users, many of whom are already involved in the crypto market with substantial capital.

II. Operation Model

Revenue

EVAA operates as a lending platform, adopting a sustainable revenue model akin to established platforms like Aave or MakerDAO. EVAA’s revenue stream is twofold:

• It collects a 5% fee on the interest earned from loans.
• It charges a 0.05% fee on loan origination.

If EVAA manages to achieve a TVL of $110 million, its projected annual revenue would amount to $1.8 million.

According to EVAA’s estimation, as the Total Value Locked (TVL) of the project increases, the platform’s revenue also increases:

• When the TVL reaches $10 million within 2 months, the revenue amounts to $14,000 per month.
• With a TVL of $15 million achieved in 4 months, the revenue rises to $21,000 per month.
• If the TVL hits $27.5 million in 9 months, the revenue climbs to $38,500 per month.

III. Tokenomics

Token Allocation & Vesting

Total supply of EVA is 50,000,000 EVA:

• Treasury: 17%
• Team: 16.5%
• Shareholders: 17.5%
• Liquidity Mining: 45%
• Advisors: 4%

Token Sale

EVAA Protocol has raised capital through 4 rounds:

• Pre-Seed: Raised $410,000 from Wagmi Ventures, TONcoin Fund, Existential Capital.
• Strategic: Raised $100,000 at a price of $0.1.
• Strategic: Raised $210,000 at a price of $0.14.
• Strategic: Raised $100,000 at a price of $0.18.

→ In total, EVAA Protocol has raised $820,000.

KOLs round

• Price: $0.42/EVA
• Vesting: 10% TGE, 6 months cliff, 12 months vesting
• FDV: $21,000,000

Initial Value

• Initial Supply: 1,950,000 EVA
• Initial Market Cap: $819,000

Token Use Case

Administrative Functions

A governance token can play a pivotal role in decentralized decision-making processes. Holders of this token may have a say in the platform’s direction. Here’s how it works:

• 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 directly participate 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.

Reward Distribution

A critical aspect of the tokenomics of any DeFi platform is how it rewards participants. Here’s a potential model for EVAA:

• Liquidity Providers: Users providing liquidity to the platform with native tokens or other accepted assets may earn transaction fees or fixed interest.
• Borrowers: While borrowers typically pay interest on their loans, there may be incentives for early repayment or borrowing during specific promotional periods.
• Governance Participants: To incentivize active governance, participants in voting or other decision-making processes may receive additional governance tokens or other perks.

DAO Reserves and Control

A cornerstone of EVAA’s protocol stability and long-term viability is the formation of reserve funds. EVAA takes a portion of the interest people pay when borrowing (called “borrow APY”) and places it into a special “reserve fund.” This helps EVAA maintain stability and robust operation in the future.

• The Decentralized Autonomous Organization (DAO) of EVAA plays a crucial role in managing and utilizing these reserve funds. Here’s how it works:
• Autonomous Utilization: The DAO, comprising the community and token holders, can decide how to use these reserve funds to reinvest in the protocol, cover potential shortfalls, or community initiatives.
• Transparency and Governance: All reserve-related decisions are made transparently and democratically, with token holders able to propose or vote on reserve-related matters.

IV. Oustanding Achivements

• Sponsored by the Ton Foundation.
• Supported by TonStarter and In5 Incubator.
• Funded by the TON Coin Foundation and Existing Capital.
• Recognized at DoraHacks.io for Hack-a-TONx.
• Honored in the Telegram web app development competition.
• Highlighted in FS Labs’ TON DeFi research (Q1/Q2 2023).
• Introduced the #MotivationalProgram on the TON testnet.
• Collaborated with HackenProof for Bug Bounty.
• Won the TON.Vote with over 1,400 votes.
• Successfully launched on ProductHunt.
• +180k registrations in the Mainnet Whitelist.

V. Team & Advisors

ARTEM

• Head of Marketing
• Leading the establishment of two groundbreaking web3 brands: BlockCzech R&D Lab and TonanaDAO.
• Co-founder: Blockczech R&D Lab and TonanaDAO (TON Bridges); TON Ambassador & Founder of TON Hub in Prague;
• Winner of the Hack-a-TONx DoraHacks award.

VLADISLAV

• Full-stack developer since the age of 13
• CTO: Tonana (Layer 0 protocol)
• Core developer for various projects (lending/profit/oracles/NFT/DAO)
• Started developing on TON before 95% of developers
• Winner of the Hack-a-TONx DoraHacks award.

ALEXANDER

• Developer – Entrepreneur
• Co-founder: TONFT (NET Bazaar – Marketplace on TON)
• Co-founder: Robinfood (food waste startup)
• Founder: Learnbay (app for learning new skills in the blink of an eye using books)
• Winner of Hack-a-TON x Prague, winner of the Hack-a-TONx DoraHacks award.

EUGEN

• Business development, Dev Rel
• Co-founder: Tonana (TON bridge)
• Co-founder: LAAABS TON Ambassador
• Winner of the Hack-a-TONx DoraHacks award.

ULADISLAU

• Chief Operating Officer, Technology Architect
• 5 years in finance
• CPO: Puzzle Lend (lending protocol)
• Architect: Sway Lend (lending protocol)
• Co-founder: Pluto (reserve currency)
• Winner of the Hack-a-TONx DoraHacks award, Econ High School Economics Prize.

VI. Backers & Partners

Backers

Angel Investor (First EVAAngelist)

As the pioneering individual angel investor boasting ownership of a Telegram network with over 20 million subscribers, they bring more than just smart capital to the table; they bring utility capital.

TONStarter Angel Round

• TONStarter, specializes in launching promising projects within the TON ecosystem, has keen foresight for innovation and scalability.
• Collaborating with Evaa promises profitable opportunities for investors tapping into Evaa.

TON COIN FUND

• With a $250 million venture portfolio, TON COIN FUND leads in supporting projects on the Open Network (TON).
• Their investment in Evaa, focusing on robust developer groups and visionary projects, stands as a testament to its potential.

Existential Capital

Known for strategic investments in startups, Existential Capital’s belief during the seed stage has reinforced EVAA’s mission and vision.

WAGMI Ventures

• WAGMI Ventures backs Web3 initiatives, investing in pioneers like Embed.xyz and RLTY.live.
• Beyond sponsorship, they co-organize events such as the Blockchain Week Paris Conference and are members of the French Bored Ape Club. As a premier gateway into Web3, they welcome collaboration and deep understanding.

Partners

Ton Foundation, Tonstarter, Tonvote (orbs), Hackenproof, DEX (Stonfi, Dedust, etc), liquid staking protocols on TON, Red Stone oracles and the others.

VII. Roadmap

• 12/2022: Ideation and planning phase.
• Q2 2023: Initiate Testnet v1.
• Q3 2023: Launch Mainnet v1.
• Q4 2023: Implement decentralized autonomous organization (DAO) for BETA version.
• Q1 2024: Develop SDK for applications.
• Q2 2024: Expand ecosystem with Stablecoin development for TON.

VIII. Overall

• The Evaa Protocol is a project with real-world implementation, a tangible product, and active users, albeit not on a massive scale. It ranks 11th in TVL within the TON ecosystem, with $80,000, and holds the 2nd position in the Lending sector. Its primary contender on TON is DAOLama, boasting a TVL of $169,000.
• One standout feature of Evaa is its decision to build upon the TON ecosystem. This ecosystem has attracted significant capital flow and garnered attention from numerous developers. With the recent establishment of a $115 million fund by the TON Foundation to foster ecosystem development, Evaa stands to benefit greatly in advancing its product.

• The project’s FDV stands at $21 million. Compared to leading lending projects in other ecosystems, this FDV might seem modest, but considering Evaa’s scale, it’s neither high nor low. One drawback of EVA is its lengthy lockup period, with a 6-month cliff and 12-month vesting. However, it boasts a low Initial Market Cap of $819,000.
• Evaa enjoys support from investment funds within the TON ecosystem and has strong partnerships with other projects in this ecosystem.