Evaa - the first decentralized lending protocol built on the TON blockchain. It aims to provide a secure and transparent way for TON users to lend and borrow cryptocurrency without intermediaries. Liquidity is provided to the market by depositors in order to earn passive income, whereas borrowers are able to obtain overcollateralized loans.
The ecosystem urgently needs DeFi tools like lending which will allow users to lend, borrow, trade, earn and the central part - bring and keep liquidity on TON which is a huge problem at this moment
The emergence of Evaa Protocol on the market will
- Attract and keep Liquidity on TON
- Boost DeFI - Expand TON use cases
- Leverage Telegram users (TWA)
- Provide decentralized margin trading on TON
How the protocol works in a nutshell
Testnet implementation by the the end of the hackathon - submission date.
On the final submission date, we were able to implement the main functionality on the testnet:
Smart Contracts
- Supply multiple assets - earn interest
- Borrow assets - collateralized by supplies
- Repay your borrows and interest
- Withdraw your assets
Front End
- Connect wallet
- Interact with the protocol using the friendly and convenient UI
The technical aspects we are proud of
EVAA is built according to the TON development convention and has no boundless data structures to achieve higher levels of scalability, efficiency and decentralization. The core component of the protocol is the master SC. It stores and calculates common for all users data such as protocol configuration, total supply and borrow principals, and asset variables. The master contract deploys a user SC with the first user interaction. This SC stores and calculates data that is specific to the user. All updates of user balances come through the Withdraw and Liquidate methods, and direct TON/Jettons transfer to the protocol address that serves as the Supply method. There are no “Repay” and “Borrow” methods, these actions can be carried out with “Supply” and Withdraw respectively.
The key future product features that will stand us out:
- Isolated pools - will prevent market risks and add utility
- DAI like Stablecoin - will add an immense amount of liquidity and utility in the TON ecosystem itself
- TWA - telegram web app integration. It will help to leverage millions of telegram users into TON
You can see our greater roadmap bellow
Our roadmap
