EVAA and TON Foundation Launch Incentive Program with 100,000 TON Rewards Pool

In a groundbreaking move within the decentralized finance (DeFi) sector, EVAA Protocol, in collaboration with TON Foundation, has unveiled a new program offering unique advantages to its users. This initiative allows users to access loans in USDT with negative interest rates, a concept that redefines traditional borrowing paradigms. The rewards pool of 100,000 TON, valued at approximately $550,000 at the time of writing, is set to be distributed among borrowers and liquidity providers, enhancing the program’s attractiveness.

Program Details and Structure

The initiative is divided into two distinct phases, each tailored to different participants in the DeFi ecosystem. Initially, the Borrow Rewards phase prioritizes borrowers who can take advantage of loans with additional incentives. As the program progresses to the Supply Rewards phase, the focus shifts to liquidity providers. These participants will receive cashback in TON tokens for supplying funds to EVAA pools, creating a mutually beneficial environment for all stakeholders.

Earning and Converting EVAA XP

Participants in the program will not only receive rewards but also accumulate EVAA XP points. These points are set to be converted into tokens by the first quarter of 2025, offering an additional long-term benefit for users. This innovative approach fosters ongoing engagement and commitment from the DeFi community, ensuring sustained interest and participation.

Engagement and Ecosystem Integration

To join the program, users need to connect their wallets on the EVAA platform. Detailed instructions are available on the TON Foundation’s website, ensuring a smooth onboarding process. Borrowers can utilize the funds received for various initiatives within The Open Network (TON) ecosystem, including earning new tokens on the Earn platform, thus expanding their financial opportunities.

EVAA Protocol’s Position in the TON Ecosystem

According to DeFiLlama, EVAA Protocol is a leading lending protocol within the TON ecosystem. The project has consistently emerged victorious in DeFi programs and has undergone a security audit by QuantStamp, underscoring its reliability and trustworthiness. Meanwhile, the TON Foundation highlights the active development within its network, exemplified by the recent launch of the cross-chain bridge, TON Teleport BTC. This feature facilitates seamless transfer of Bitcoin onto the platform and back, further enhancing the ecosystem’s functionality.
These strategic initiatives not only strengthen the project’s standing in the DeFi world but also increase its appeal to users. As the program unfolds, it promises to deliver significant value and innovation within the cryptocurrency market, setting a new standard for DeFi engagement and rewards.