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EVAA Protocol
Non-custodial lending protocol on TON with Telegram Mini App access and $2.5M in backing
3.5/ 5
Our score
Good
Lending model
Pooled
Chains
TON
Main collateral assets
TONtsTONGRAMUSDT
Audited
Yes
Governance token
EVAA
What is EVAA Protocol?
EVAA Protocol is a non-custodial decentralized lending and borrowing market built natively on the TON blockchain. It allows participants to supply digital assets into shared liquidity pools to earn variable interest or draw overcollateralized loans against deposited collateral, operating via a web interface or an integrated Telegram Mini App.
Team and funding
Founded in 2023 and based in Prague, Czech Republic, the project was started by Vlad Kamyshov, Vladislav Blizniuk, and Alexander Sudeykin. Kamyshov, serving as chief executive officer, brings three years of decentralized finance background spanning two lending protocol deployments alongside four years in traditional risk management. Blizniuk serves as chief technology officer, and Sudeykin leads growth. In January 2025, EVAA Protocol completed a $2.5M private token round with participation from TON Ventures, Animoca Ventures, Polymorphic Capital, CMT Digital, WAGMI Ventures, and Mythos Ventures.
How lending and borrowing work
The protocol uses pooled, overcollateralized smart contracts on TON. Users retain self-custody of their keys, interacting directly through TON wallets or via the @EvaaAppBot Telegram client. Markets are separated into specialized pools, including Main, LP, Stable, and Alts pools, accommodating core ecosystem assets such as TON, tsTON, and wrapped tokens. Depositors supply liquidity to earn variable lending rates, while borrowers must maintain an adequate health factor to prevent liquidation. Loan repayments can be executed in full or in custom increments of 25%, 50%, 75%, and 100%.
Costs and availability
EVAA Protocol charges no platform registration or account maintenance fees, relying on variable protocol interest rate spreads and native TON network transaction fees to execute contract calls. Access is permissionless and requires no identity verification or KYC checks. Because it operates on public smart contracts and Telegram interfaces, it is accessible globally wherever TON infrastructure and Telegram operate.
Audits and track record
Following initial testnets and an ecosystem hackathon win in 2023, EVAA launched its public mainnet in 2024. The protocol has handled over $1.4B in total volume across more than 300,000 unique wallets, reaching peak deposits exceeding $118M. Quantstamp and Trail of Bits audited its smart contract codebase, and the team maintains a public bug bounty hosted on HackenProof.
Key risks
Users face inherent risks typical of decentralized credit protocols. Liquidation occurs automatically if collateral values fall below borrowing thresholds, which can be accelerated by sudden asset depegs or oracle pricing discrepancies. Smart contract vulnerabilities, variable borrow rate spikes during high utilization, and concentrated single-network exposure to the TON ecosystem remain critical considerations for capital allocators.
Founders
Vlad KamyshovCEO
Has three years of decentralized finance experience building lending protocols and four years of risk management experience in traditional finance.
Vladislav BlizniukCTO
Alexander SudeykinCo-Founder and CGO
Best for:TON ecosystem yield seekersTelegram-native DeFi usersOvercollateralized crypto borrowers
Pros and cons
Pros
- Native Telegram integration eliminates the need for separate desktop browser extensions
- Smart contracts audited by Trail of Bits and Quantstamp with a HackenProof bounty
- No KYC requirements for lending or borrowing on the protocol
- Raised $2.5M from notable ecosystem funds including TON Ventures and Animoca Ventures
Cons
- Restricted entirely to the TON ecosystem with no multichain deployments
- Variable borrowing interest rates can spike sharply during high pool utilization
- Borrowers face automatic liquidation risks during market volatility or oracle failures
Our review
3.5/5
Good
EVAA Protocol delivers non-custodial lending natively on the TON blockchain and inside Telegram, though it remains restricted to a single network with inherent smart contract and liquidation risks.
EVAA Protocol is a non-custodial lending protocol built natively for the TON blockchain. Operating both through a web interface and a Telegram Mini App, it allows depositors to earn interest and borrowers to draw liquidity against overcollateralized positions. Co-founded in Prague by Vlad Kamyshov, Vladislav Blizniuk, and Alexander Sudeykin, the team raised $2.5M in private funding in January 2025 from backers including TON Ventures, Animoca Ventures, and CMT Digital.
The protocol segments risk across distinct lending pools, including Main, LP, Stable, and Alts pools. Users can supply assets such as native TON, tsTON, GRAM, and wrapped tokens, or establish looping strategies by depositing liquid staking collateral like tsTON to borrow TON. Variable rates adjust dynamically according to pool utilization, while borrowing positions can be managed and repaid incrementally in 25%, 50%, 75%, or 100% tranches. Transaction costs remain low due to native TON execution fees.
Security measures include completed audits by Trail of Bits and Quantstamp, alongside an active bug bounty hosted on HackenProof. Peak deposits reached over $118M and cumulative transaction volume surpassed $1.4B across 300,000 unique wallets. Users face typical lending risks such as collateral depegging and smart contract vulnerabilities.
EVAA Protocol suits active TON ecosystem participants and Telegram users seeking direct yield on idle tokens or collateralized liquidity without relying on centralized intermediaries. Traders requiring multi-chain collateral, cross-chain bridging inside the money market, or peer-to-peer fixed-rate isolation should look to established cross-chain protocols on EVM networks.
Specs
| KYC required ⓘ | No · unverified |
|---|---|
| Lending model | Pooled · unverified |
| Chains | TON · unverified |
| Main collateral assets | TON, tsTON, GRAM, USDT · unverified |
| Audited | Yes · unverified |
| Bug bounty | Yes · unverified |
| Governance token | EVAA · unverified |
| Isolated markets | Yes · unverified |
| Own stablecoin | No · unverified |
| Rates | Variable · unverified |
Not disclosed by the provider: Flash loans, Permissionless markets, Real-world-asset collateral.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Telegram Mini App access
Users can lend, borrow, and check position health factors directly inside Telegram using the @EvaaAppBot interface.
Segmented asset pools
Liquidity is organized into Main, LP, Stable, and Alts pools to isolate different asset risks across the TON ecosystem.
Flexible debt repayments
Borrowers can close out active debts entirely or reduce them in increments of 25%, 50%, 75%, or 100%.
Non-custodial pooled markets
Deposits earn interest programmatically while collateral remains locked directly within public smart contracts on TON.
Liquid staking leverage loops
Supports looping strategies by supplying staked assets like tsTON to borrow TON and restake for yield.
Inside EVAA Protocol
Main Pool
The primary lending market for core assets on the TON network. Users can supply collateral and borrow against pooled liquidity.
Stable Pool
A specialized market focused on stable assets that provides predictable yields with reduced liquidation volatility.
LP Pool
A liquidity pool tailored for liquidity provider tokens. Users can unlock borrowing power from their DEX positions.
Alts Pool
An isolated lending environment dedicated to higher-volatility altcoins and emerging TON ecosystem tokens.
EVAA Telegram Mini App
A native Telegram interface via @EvaaAppBot that allows users to deposit, borrow, and track their health factors directly within Telegram.
EVAA Protocol screenshots
User reviews
No user reviews yet. Have you used EVAA Protocol? Share your experience below.
Funding and investors
$2.5MTotal raised
1Round
6Investors
FAQ
Who founded EVAA Protocol?
EVAA Protocol was co-founded by Vlad Kamyshov, Vladislav Blizniuk, and Alexander Sudeykin. Kamyshov serves as CEO, bringing experience from traditional finance risk management and previous decentralized lending protocols.
What blockchains does EVAA Protocol support?
EVAA Protocol is deployed exclusively on the TON blockchain. It supports TON-native assets, wrapped tokens, liquid staking derivatives like tsTON, and GRAM.
Is KYC required to use EVAA Protocol?
No, EVAA Protocol is a non-custodial decentralized application that does not require identity verification or KYC. Users connect directly via compatible TON wallets or the Telegram Mini App.
Has EVAA Protocol undergone smart contract audits?
Yes, EVAA Protocol has completed security audits conducted by Trail of Bits and Quantstamp. The project also maintains an ongoing bug bounty program hosted on HackenProof.
Does EVAA Protocol have a native token?
Yes, the protocol features the EVAA token with a fixed total supply of 50,000,000. It functions as the platform's governance and utility token.
How does borrowing and repayment work on EVAA Protocol?
Borrowers deposit supported collateral to draw overcollateralized loans against segmented pools. Debts accrue variable interest and can be repaid in increments of 25%, 50%, 75%, or 100% of the balance.
Latest from EVAA Protocol on X
More ways to put your assets to work. 💙
Explore the EVAA Main Pool—from the-open-network:native and stablecoins to liquid staking assets.
Compare supply and borrow rates, find your fit, and make your next move onchain.
What’s your go-to asset on EVAA? https://t.co/U2L2gRQF6V
Explore the EVAA Main Pool—from the-open-network:native and stablecoins to liquid staking assets.
Compare supply and borrow rates, find your fit, and make your next move onchain.
What’s your go-to asset on EVAA? https://t.co/U2L2gRQF6V
Seeing a lot of blue on the timeline today. 💙
EVAA fam, make yourselves known. 👇
EVAA fam, make yourselves known. 👇
Your stablecoin strategy starts here. 💙
Explore $USDT, $USDe, and $tsUSDe in the EVAA Stable Pool.
Supply assets, access liquidity, and find the strategy that works for you.
Which asset are you bringing to the pool? https://t.co/IDNgOrTTDR
Explore $USDT, $USDe, and $tsUSDe in the EVAA Stable Pool.
Supply assets, access liquidity, and find the strategy that works for you.
Which asset are you bringing to the pool? https://t.co/IDNgOrTTDR
Coffee poured. Headphones on. A fresh week on TON.
What’s your first move today? https://t.co/NDcAUkrp3Y
What’s your first move today? https://t.co/NDcAUkrp3Y
Recent public posts from @evaaprotocol, shown as published. Not reviewed or endorsed by CryptoReview.
Latest from EVAA Protocol on Telegram
EVAA
Join
@evaaprotocol · 255K subscribers
Wakey Wakey, EVAA community 😇
While you were asleep, $EVAA reached a new All Time High.
Show us your portfolio now 👇📸
App | Support | X | Guides | Ref | SDK
While you were asleep, $EVAA reached a new All Time High.
Show us your portfolio now 👇📸
App | Support | X | Guides | Ref | SDK
33.3K View on Telegram
Join the giveaway and get a chance to win Telegram Gifts 🎁 from EVAA and partners 😇
26.2K View on Telegram
KEEP THEM RUNNING 😇🎫
The $EVAA Vouchers collection is experiencing massive demand — both from the existing EVAA community and new believers joining now.
The floor price for the cheapest Noir Vouchers (15 $EVAA allocation) has reached an all-time high of 20 $TON today 🤑
At the current $EVAA price and NFT floor level, the value of tokens locked inside each NFT is nearly 2× higher than the NFT’s price itself!
GET VOUCHERS ON GETGEMS 💎
App | Support | X | Guides | Ref | SDK
The $EVAA Vouchers collection is experiencing massive demand — both from the existing EVAA community and new believers joining now.
The floor price for the cheapest Noir Vouchers (15 $EVAA allocation) has reached an all-time high of 20 $TON today 🤑
At the current $EVAA price and NFT floor level, the value of tokens locked inside each NFT is nearly 2× higher than the NFT’s price itself!
GET VOUCHERS ON GETGEMS 💎
App | Support | X | Guides | Ref | SDK
28.6K View on Telegram
Stake $EVAA 😇 — Win EVAA Vouchers 🎫 We’re giving away 3 Noir Vouchers (worth 15 $EVAA each) to both users who are staking already and those eager to start doing that now! 📝 Current Staking APR: 125.44% 📖 How to Join 1️⃣ Stake any amount of $EVAA — every…
15.8K View on Telegram
Recent posts from the official Telegram channel @evaaprotocol, shown as published. Not reviewed or endorsed by CryptoReview.
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