KEY TAKEAWAYS
- The TON Foundation and EVAA Protocol have launched a new incentive program to boost DeFi engagement on the TON Blockchain.
- The program offers 100,000 TON in rewards, structured in two phases to encourage borrowing and liquidity provision.
- EVAA Protocol, a decentralized lending platform on TON, supports various DeFi activities and has undergone a successful QuantStamp audit.
- This initiative aims to accelerate DeFi adoption within the Telegram community, leveraging EVAA’s lending and borrowing features.
The TON Foundation and EVAA Protocol have announced a new incentive program aimed at decentralized finance (DeFi) users. This initiative combines the strengths of the TON Blockchain and EVAA’s lending platform to enhance user engagement and drive the growth of DeFi on TON. A total of 100,000 TON has been allocated as rewards for participants.
Vlad, CEO of EVAA, stated, “As the first DeFi protocol on TON, apart from DEXs, to receive these liquidity incentives, we are proud to lead the charge in showcasing how such support can accelerate the adoption of DeFi within the Telegram community.” The full announcement can be found here.
A Two-Step Incentive Program
The incentive program is structured in two phases to ensure a balanced and sustainable approach. Initially, participants can earn rewards by borrowing USDT from EVAA’s main pool. This phase offers subsidized USDT loans against TON, tsTON, and stTON.
Once borrowing incentives gain traction, the program may shift focus to supply rewards. Users who provide liquidity to EVAA’s pools will receive additional rewards for their contributions. This phased approach is designed to benefit all participants while fostering ecosystem growth.
Understanding EVAA Protocol
EVAA Protocol is a decentralized lending platform built on the TON Blockchain. It offers features such as lending, borrowing, leveraged liquidity provision, and hedged liquidity provision. These are supported by locked liquidity across platforms like Tonstakers, Storm Trade, DeDust, StonFi, and Bemo, creating a robust ecosystem.
EVAA has achieved a successful QuantStamp audit and multiple wins in The Open League. It also contributes to developer education through initiatives like the TON DeFi Academy, empowering future blockchain enthusiasts and builders.
How to Participate in the Incentive Program
Participants can start earning rewards by engaging with EVAA’s lending and borrowing features. To lend, users can connect their crypto wallet to the EVAA Protocol, choose an asset like TON, and supply it to the liquidity pool. Interest rates accumulate based on the borrow utilization rate.
For borrowing, users need to provide collateral first. After connecting their wallet, they can select USDT from the available assets and borrow the desired amount. It’s important to maintain enough collateral to avoid liquidation, as interest rates are dynamic based on utilization.
This collaboration between TON Foundation and EVAA Protocol introduces new possibilities for DeFi on TON. The program launches this week, offering opportunities for users at all levels to engage with the DeFi ecosystem.
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