TON DeFi lender EVAA Protocol raises $2.5 million in private token sale

EVAA Protocol, a DeFi lending platform for the TON ecosystem, raised $2.5 million in a private token sale.

Participants in the recently closed round included Polymorphic, Baring Vostok, TON Ventures , Animoca Brands, CMT Digital, Mythos Ventures, Wagmi Ventures and angel investors, according to a release shared with The Block.

EVAA Protocol provides lending, borrowing, shorting, leveraged staking and other decentralized finance (DeFi) services for the TON network . The platform aims to use its financing to eventually launch its own token called EVAA, with the overall goal of expanding TON's DeFi landscape.

"DeFi technology continues to explode within the TON ecosystem," said EVAA Protocol Co-Founder Aleksandr Sudeikin in a statement. "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."

EVAA Protocol has integrated with OKX , Bitget, Tonkeeper, Tonhub, in addition to maintaining partnerships with TON Foundation, Notcoin, Storm Trade and other platforms, the release continues.