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LENDING · 2026

EVAA Protocol

The flagship pool-based lending protocol on TON — deposits, borrows, variable rates

Open EVAA Protocol Lending

Key facts

Founded
2023
Public audit
Yes
Open source
Partial
Security
8.5 / 10

Pros

  • Largest lending protocol on TON by TVL — best pool depth
  • Several rounds of independent audits, transparent contract base
  • Integrates with top TON wallets via TON Connect
  • Supports the key jettons: TON, USDT, stTON, NOT — covers main scenarios
  • Standard health-factor / liquidation mechanics familiar from DeFi-lending

Cons

  • Conservative LTV ladders — leverage is less efficient than at top EVM peers
  • TON's async model requires understanding: transactions span phases, liquidations are not instant
  • Narrower collateral whitelist than Aave on Ethereum — no blue-chip ERC20 equivalents
  • Oracle-dependent: an oracle incident can leave bad debt (a known risk for all lending protocols)
  • Partial open-source — not every component lives in public repos

What it is and who it fits

EVAA Protocol is the flagship lending service on TON, built on a classical pool-based model in the spirit of Aave/Compound but adapted to TON's async architecture. A user deposits a supported jetton (TON, USDT, stTON, NOT and others) into a pool and can immediately borrow another asset at a variable rate set by pool utilisation. On top of that run health-factor liquidations, price oracles (multi-source — RedStone and Pyth-style fallbacks), and leverage strategies (the classic loop: deposit → borrow → re-deposit). By early 2026 EVAA is the largest lending venue on TON by TVL, has passed several rounds of independent audits and is integrated with top wallets via TON Connect. The strength is pool depth and well-designed liquidation logic; the weakness is that TON specifics make the protocol harder for traders coming from EVM, and risk parameters (LTV ladders) are more conservative than top-3 EVM peers, which hits leverage efficiency. For a passive TON/jettons holder who wants on-chain yield without leaving self-custody, EVAA is the default entry point into TON-DeFi 2026.

Loan parameters

Collateral type
Whitelisted jettons (TON, USDT, stTON, NOT etc.) — pool-based supply & borrow
LTV and liquidation
LTV is laddered and depends on the collateral/borrow asset pair; TON collateral against USDT borrow typically sits at 70-80%, less liquid jettons noticeably lower. Live values are on app.evaa.finance.
Fees and rate
Rates are variable and derived from pool utilisation — no flat fees, the net comes down to supply APY vs borrow APR.

Score breakdown

  • Security 8.5 / 10
  • UX 8.0 / 10
  • Features 8.5 / 10
  • Ecosystem 9.0 / 10
  • Overall 8.5 / 10

Scores reflect editorial opinion, not an independent audit. Affiliate links route through our /go/?to= cloak — details on the disclosure page. APY, fee and LTV figures are correct at publication; always cross-check on the service itself.

Open EVAA Protocol

The flagship pool-based lending protocol on TON — deposits, borrows, variable rates

evaa.finance

Open EVAA Protocol

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