EVAA Protocol Secures $2.5M In Private Token Sale To Expand TON DeFi

EVAA Protocol, a lending platform operating on the Ton TON/USD blockchain, on Thursday announced the completion of a private token sale, securing $2.5 million in funding.

The round saw participation from various venture capital firms, angel investors, and key opinion leaders, including Polymorphic Capital, TON Ventures, and Animoca Ventures.

The capital raised will be used to further develop the protocol’s infrastructure and expand its footprint within the TON decentralized finance (DeFi) ecosystem.

Aleksandr Sudeikin, co-founder of EVAA Protocol said, "DeFi technology continues to explode within the TON ecosystem. With our unique product, global community, and financials, we are now in a great position to be a base layer for the whole TON DeFi."

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Since its mainnet launch in early 2024, EVAA has reported attracting 80,000 monthly active users and $50 million in total value locked. The next step in its development will be the launch of its own $EVAA token.

EVAA functions as a lending platform where users can engage in borrowing, lending, shorting, leveraged staking, longing, and hedging.

The protocol has aligned itself with the TON Foundation's objectives for the growth of the blockchain and DeFi and has plans to reach a wide spectrum of users.

EVAA is integrated into several platforms such as OKX, Gate, Bitget, Tonkeeper and others.

Future enhancements include the listing of Tether USDT/USD APY, and listing ecosystem tokens as well.

The protocol also emphasized user accessibility through its integration with the Telegram messenger app for users managing assets and loans.

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