EVAA on TON surges 20% amid scarce supply
The TON-based lending protocol EVAA started trading with a surge of more than 20%, driven by Telegram’s 900 million user base and its scarce tokenomics.
Developed by former TON Foundation experts and affiliated organizations, EVAA is a Telegram mini-app that enables users to deposit or borrow cryptocurrencies.
During its preparation phase, the project peaked at $118 million in deposits, processed more than $1.4 billion in transactions, and attracted over 310,000 unique wallets.
Backed by Animoca Ventures, TON Ventures, Polymorphic Capital, and other well-known investors, EVAA has undergone audits by Trail of Bits and Quantstamp, ensuring high security and reliability.
Currently, EVAA supports around ten cryptocurrencies, including USDT, TON, NOT, and wrapped stablecoins, allowing users to provide liquidity or take loans. Once a borrower’s Health Factor reaches 0%, the loan is liquidated, and third-party liquidators can repay up to 50% of the debt in exchange for a reward of up to 15% of the liquidation amount, strengthening the protocol.
Community confident in growth
The platform features a deflationary tokenomics model, burning tokens through platform revenues. Its maximum supply is relatively small compared to other projects — just 50 million EVAA, with only 6.61 million (13%) currently in circulation.
EVAA price dynamics after listing. Source: CoinMarketCap
Following the start of trading at $5.2, the EVAA token first dipped to $3.9, but then rebounded and exceeded its launch price. At the time of writing, EVAA was trading at $6.4, more than 20% above its initial value.
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