EVAA Protocol Guide

EVAA is a decentralized lending platform on the TON blockchain that lets users earn interest by supplying assets or obtain loans against crypto collateral. The protocol relies on smart contracts, token‑based governance, and built‑in risk controls.

Overview#

The platform uses smart contracts to automate loan terms and collaborates with external auditors for security reviews. Users can become lenders (earning interest) or borrowers (receiving funds against collateral). Token holders participate in governance through the $EVAA token, which also powers incentives and reserve management.

Token utility

Governance – $EVAA holders can propose and vote on protocol changes.
Delegated voting – voting rights may be transferred to another address.
Incentives – active participants receive rewards for voting and proposals.

Rewards

Liquidity providers earn a share of transaction fees or a fixed interest rate.
Borrowers may receive bonuses for early repayment or promotional periods.

Reserves and DAO

A portion of borrower interest funds a reserve pool managed by a DAO, ensuring long‑term stability and transparent decision‑making.

Lending workflow#

Deposit – Users supply TON, USDT, stTON, or tsTON. After a short registration period, assets begin accruing APY.
Borrow – With sufficient collateral, users can borrow up to ~65% of the collateral’s value.
Repay – Loans have no fixed repayment date; interest accrues each block. Borrowers can repay any amount via the “Repay” section.
Withdraw – Assets can be withdrawn once all outstanding loans are cleared or the remaining collateral stays within allowed limits.

Health Factor

The health factor measures the safety of a position. It rises when collateral is added or debt is repaid and falls when new debt is taken or collateral value drops. If the health factor falls below 0 %, part of the loan is liquidated and a liquidation fee is applied.

Risk management#

Collateral valuation – Prices are sourced from Red Stone Oracle, which aggregates data from multiple feeds to reduce manipulation risk.
Liquidation threshold – Positions are liquidated when the loan‑to‑value ratio reaches 75 %.
Dynamic interest rates – Rates adjust based on liquidity availability and platform utilization; higher demand raises rates, abundant liquidity lowers them.
Audits – Smart contracts are reviewed by external auditors (per source).

EVAA XP Mining#

Users earn EVAA XP for interacting with the protocol. Weekly random balance snapshots calculate XP based on the dollar value of supplied or borrowed assets. Accumulated XP can later be burned to claim an airdrop of $EVAA tokens.

LP Token Pool & Leveraged Farming#

A dedicated liquidity pool accepts LP tokens from DeDust and Storm Trade. Participants can leverage these LP tokens to farm additional yields, while the pool remains isolated from the main EVAA markets, reducing systemic risk.

Roadmap (as of source revision)#

Q2 2024 – DAO launch, liquidity mining, EVAA block explorer, Dutch‑auction liquidation, one‑click leverage UI.
Q3 2024 – NFT‑backed lending, DEX liquidity for deposit tokens, farming integrations, bridge integrations.
Q4 2024 – NFT lending deployment, high‑efficiency mode for stablecoins, customizable risk‑management tools.
Q1 2025 – PID‑controller interest‑rate model, higher pledge ratios for stablecoins, further risk‑tool customization.

Popular assets#

TON – native TON coin
USDT – TON‑based stablecoin jetton
stTON – liquid‑staking token for TON
tsTON – alternative liquid‑staking token