TON Blockchain DeFi Leader EVAA Launches Token for Decentralized Control
Incrypted reports that EVAA, the largest DeFi protocol on TON blockchain, announced its transition to decentralized governance through a DAO structure. The protocol launched the EVAA token to enable community control. The announcement came in October 2025.
EVAA has processed more than $1.4 billion in transactions since its inception. The protocol currently serves 300,000 wallets. According to the development team, EVAA originated at the 2023 Hack-a-TON x DoraHacks hackathon. Co-founder Alexander Sudeykin created one of the first lending applications on TON.
The protocol operates entirely within Telegram through Mini Apps technology. Users can deposit assets, borrow against collateral, and earn returns without leaving the messenger. EVAA received backing from Polymorphic Capital, Animoca Ventures, TON Ventures, and WAGMI Ventures. Quantstamp and Trail of Bits conducted security audits for the platform.
Why This Matters
The transition affects how 300,000 users interact with their financial infrastructure. EVAA token holders gain four governance rights under the new structure. They can vote on risk parameters and collateral types. They receive protocol fee revenue through token buyback mechanisms. Stakers earn increased rewards for providing liquidity. Token holders pay reduced fees for borrowing and liquidations.
Blog.ton.org notes that EVAA formed partnerships with multiple TON ecosystem projects during April 2025. These include collaborations with FIVA, Tonstakers, and Factorial. The ecosystem held between 170,000 and 190,000 daily active wallets during this period. EVAA's integration into Telegram allows access to over 1 billion potential users.
The DAO model transfers decision-making from a centralized team to community members. Protocol revenue gets directed toward token buyback and burning programs. This mechanism reduces token supply over time. CEO Vlad Kamyshov stated the protocol creates a liquidity layer for Telegram users.
Industry Implications
TON blockchain DeFi projects compete with established networks like Ethereum and Solana. EVAA's DAO transition reflects broader trends in decentralized governance. Cryptowisser reports that DAOs eliminate centralized control through smart contracts and blockchain technology. These organizations automate governance and reduce bureaucracy. DAOs make decision-making processes transparent for public audit.
According to CoinLaw, decentralized autonomous organizations collectively held approximately $21.4 billion in treasury assets as of 2025. Uniswap leads with $2.8 billion in managed funds. BitDAO holds $2.4 billion. The data shows growing institutional confidence in community-governed protocols.
However, DAO governance faces challenges. Voter participation remains low across most organizations. Regulatory frameworks have not caught pace with decentralized structures. Countries including the United States, China, and India lack clear DAO governance laws. The concentration of voting power among large token holders creates centralization risks. Some DAOs experience governance attacks when treasuries grow large while active participation stays minimal.
EVAA trades on Binance Alpha, MEXC, STON.fi, and Gate.io platforms. The token moves between TON and BNB Chain through Symbiosis Finance. Validators from Binance Labs, Bixin VC, P2P.org, and Luga Nodes secure cross-chain operations. The development team plans to add cryptocurrency payment features for traditional purchases. They aim to reduce collateral requirements through Telegram social mechanisms and reputation systems.
Further Reading
For those interested in decentralized governance structures and blockchain-based organizational tools, our comprehensive DAO tooling guide provides detailed analysis of over 100 platforms and tools used in decentralized governance. The guide covers voting mechanisms, treasury management systems, and coordination software for community-led organizations.
