A few days ago I mentioned that Ethena offers a 10% Boost APY for TON DeFi. If you can't get an Aave deposit quota or find the Morpho borrowing rate too high, TON DeFi could be an alternative option.
Today I am organizing several participation strategies for EVAA (which can also be used to earn $EVAA airdrop) and to understand information related to $EVAA:
1. tsUSDe circular loan.
Deposit tsUSDe, borrow USDT to exchange for tsUSDe, and deposit again.
Returns: 10% tsUSDe deposit APY + 5x Ethena Points + 15x EVAA XP (EVAA airdrop points, from USDT loan positions)
* The maximum yield calculated by the official circular loan can reach 48.76%.
Risk: Protocol risk, all assets concentrated on a single platform.
2. Stake tsUSDe, borrow TON.
Stake tsUSDe, borrow TON, and participate in the $300,000 event from Binance wallet & Tonstakers.
Returns: 10% tsUSDe deposit APY + 5x Ethena Points + 5x EVAA XP (from TON borrowing) + 19.8% TON APY (from Binance wallet & Tonstakers activities)
Risk: Liquidation risk, be aware of TON's price fluctuations; however, the volatility of TON's price is not high, and the borrowing rate is only 1.18%.
3. Stake USDe, borrow tsUSDe.
Since simply holding tsUSDe in the TON Wallet also offers a 10% Boost APY, the limit is the same as 10,000 tsUSDe, and is separate from the amount staked in TON DeFi.
Returns: 4.29% USDe deposit APY + 20x Ethena Points + 9x EVAA XP + 14.86% tsUSDe APY (4.86% + 10%)
Risk: The lowest risk since the borrowed tsUSDe is in your own wallet.
What is EVAA XP? $EVAA airdrop?
According to the EVAA Protocol roadmap, TGE will occur in 2025, and EVAA XP will be related to the $EVAA token airdrop.
Tokenomics: 22% allocated to airdrops + liquidity incentives, 20% allocated to DAO treasury, 16.5% allocated to the founding team, 11.11% allocated to seed round, 10% allocated to market-making liquidity, 10% allocated to future financing, 6.11% allocated to pre-seed round, 1.2% DEX liquidity, 1% KOL.
Lock-up design: Initial supply 13.38%, unlocking 0.79% per month. KOL lock-up for 3 months, investors lock-up for 6 months, and team lock-up for 9 months.
Investor lineup: Investors including Animoca Ventures, TON Ventures, WAGMI Ventures, CMT Digital, Mythos, Polymorphic, etc., raised 2.5 million USD.
Summary
If you don't want to worry about liquidation lines or price fluctuations, it is recommended to focus on options 1 and 3, with both deposits and borrowings being stablecoins. Additionally, the interest rate for EVAA XP is also higher.
If you want to reduce protocol risk, you can transfer assets to another platform or wallet through method 2, which prevents total loss in the worst-case scenario.
This article mainly increases information about EVAA XP and token information. Based on my current observations and data from Dune, the competitiveness of the EVAA XP leaderboard is surprisingly high, and the average deposit median on the EVAA platform is not low, possibly indicating that many large players in the TON ecosystem are betting on this.
Regarding the EVAA Protocol, the official has disclosed information about four core members and has a complete roadmap. Interested parties can check the TGE page.
$EVAA token distribution seems to be gradually released, including airdrops, and may not have one-time pressure. Additionally, the official emphasizes that the protocol's annual revenue reaches 3 million USD, which can be used for repurchases and token burns, potentially affecting the token price.
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※Ethena code:
eu54u
※The above content does not constitute investment advice. Users should operate according to their own risk tolerance and participate in the investment market with caution, DYOR.
※The attached images are taken from EVAA, TG wallet, Binance wallet.