What is EYWA?

EYWA is a cross-chain interoperability protocol that provides a secure, efficient, and decentralized solution for the flow of data and assets between different blockchains. In the current blockchain ecosystem, the isolation between chains limits the development of cross-chain applications, and EYWA's mission is to eliminate these barriers and create a seamlessly connected multi-chain world.

The protocol supports seamless transfer of data and assets between multiple chains, especially in the DeFi field, by introducing decentralized validation networks and smart contract interoperability, providing powerful infrastructure support for cross-chain lending, asset management, and liquidity.

In May 2024, the cross-chain DeFi protocol EYWA completed a $7 million seed round of financing, led by Curve Finance founder Michael Egorov, with participation from Fenbushi Capital, GBV Capital, and others. Additionally, EYWA and Curve are collaborating to develop a trustless bridge aimed at achieving secure cross-chain communication through a consensus mechanism, further enhancing interoperability within the DeFi ecosystem.

On December 21, 2024, EYWA announced on the X platform that it has completed a new round of financing, with participation from 1inch co-founder and Kenetic Fund. The specific amount has not been disclosed, but the company's total financing amount has reached 8.5 million USD so far.（Click to view the original text)

Image: CrossCurve cross-chain bridge page (Click to view the page)

EYWA's technical architecture

EYWA's technical architecture combines multiple innovative technologies to ensure efficient and secure cross-chain operations:

(1) Decentralized Data Transmission Protocol
The core of EYWA is its Decentralized Data Transfer Protocol (DDTP), which supports data exchange between different blockchains. This architecture avoids the single point of failure problem that centralized bridging may bring, ensuring the security and stability of data transmission.

(2) Interoperability of Smart Contracts
EYWA has introduced the cross-chain smart contract function, enabling contracts from different blockchains to collaborate and operate together. Developers can utilize this feature to build unified decentralized applications across multiple chains, expanding the boundaries and possibilities of DApps.

(3) Validation Node Network
Validator nodes are an important part of the EYWA network. These nodes verify the authenticity and validity of cross-chain transactions through a distributed consensus mechanism while receiving corresponding token rewards, thereby incentivizing community participation.

EYWA's application scenarios

EYWA's wide applicability has shown potential in multiple fields:

(1) Cross-chain asset management in DeFi
EYWA supports users to efficiently transfer and manage assets across different blockchains. Whether it's cross-chain lending, liquidity mining, or decentralized exchanges, EYWA can provide underlying support for them.

(2) Data exchange and distributed storage
EYWA can connect distributed storage networks and other blockchains, support cross-chain access to data, and provide infrastructure support for data-driven applications.

(3) On-chain and off-chain integration
By integrating with the Oracle, EYWA is able to achieve real-time interaction between on-chain smart contracts and off-chain data sources, providing support for more complex use cases.

EYWA's token economic model

EYWA's token economy model is designed closely around ecosystem growth and sustainability:

(1) Token Allocation
According toOfficial DocumentationThe total supply of $EYWA is 1 billion, with the following specific allocations:

1. YWA DAO Treasury and Incentive Program (33%): Used to support the long-term development of the ecosystem and community incentives, including liquidity mining, ecological rewards, etc.

2. EYWA Foundation (17.2%): Managed by the Foundation, dedicated to promoting technology development, ecological promotion, and strategic cooperation.

3. Early investors (23.1%)
   • Pre-Seed (5%): Initial funding for early-stage technology development and market validation.
   • Strategic round (8.8%): Attract strategic partners to empower the project ecology.
   • Seed round (9.3%): mainly support infrastructure construction and team expansion.

4. Founding Team and Developers (13%): Including the founding team (8%) and developer fund (5%), this portion of the tokens has a lock-up period to ensure long-term incentives.

5. Community Building (2.2%): Used to support community expansion, user growth, and market promotion.

6. Advisors and KOL (6%)

   • Advisor (5%): Support project technology direction and strategic planning.
   • KOL (1%): Promote the project through opinion leaders to increase visibility.

7. Airdrop program (4%)

   • Alpha test user airdrop (1%)
   • First season airdrop plan (3%), covering a broader range of user groups.

8. Early liquidity mining (1.5%): Incentivize users to provide liquidity support.

Token unlocking and release mechanism

To maintain market stability, the $EYWA token adopts a gradual unlocking mode:

• Early investors: 5% unlocked after TGE, locked for 6-9 months, linear release for 18-24 months.
• Team and advisors: lock-up for 9 months, linear release over 24 months.
• Airdrop Plan: Distributed in stages based on community activities and contributions.

Image: Eywa Token Distribution

(2) Token Functionality and Use Cases
EYWA token is not only a medium of exchange, but also used for paying network fees, rewarding validation nodes, governance proposals, and voting, ensuring decentralized governance of the ecosystem.

veEYWA

• The EYWA token is the governance token of Eywa/CrossCurve, and holders can obtain veEYWA by locking EYWA, which is used to participate in the governance and decision-making of EYWA DAO.
• Locking rule: 1 veEYWA = 1 EYWA locked for 3 years. During the lock-up period, voting power will decrease linearly as the unlocking time approaches.
• Purpose:
  • Governance Rights: Locking EYWA can vote to decide on proposals and key parameters of the CrossCurve governance forum and DAO.
  • Platform incentive allocation: Determines token issuance direction and fee distribution.

Chart: EYWA Token Liquidity Chart

EYWA DAO

• Introduction to DAO:
  • EYWA DAO is the governance organization of the protocol, controlled by veEYWA holders.
  • The DAO formulates sustainable incentive strategies for cross-chain liquidity in a democratic and transparent manner, and manages the liquidity of the protocol to provide the best cross-chain exchange conditions in the market.
• Core Objective:
  • Attract and incentivize cross-chain liquidity.
  • Accumulate protocol's own liquidity (POL, Protocol Owned Liquidity).

EYWA Token Liquidity Mechanism

• Issuance Voting: Through the Cross-chain Gauge System, veEYWA holders can vote every two weeks to determine token issuance and incentive structure:
  • Direct issuance: allocate EYWA to the CrossCurve liquidity pool.
  • Bribery Issuance: Incentivize key CrossCurve liquidity pools on platforms such as Curve and Convex by paying bribes.
  • Bond issuance: used to increase protocol liquidity and participate in governance competition of Curve and Convex.
• Expense Allocation:
  • CrossCurve fees: transaction fees for cross-chain stable pools and crypto pools.
  • Eywa Bridge Fee: Fees from cross-chain bridge service.
  • External revenue: Voting income from DAOs such as Curve and Convex.
• Voting Power Boost:
  • EYWA NFT bonus: Holding NFT can enhance the voting power of veEYWA.
  • Boost Farming: Earn additional EYWA rewards by providing liquidity.
  • veEYWA Staking: Earn rewards based on the amount of veEYWA staked.
• Bribery and Voting Markets:
  • Market participants can pay bribes to incentivize veEYWA holders to vote for the fund pool they are interested in.
  • We plan to launch the veEYWA voting market on major voting aggregation platforms such as Convex, StakeDAO, and Yearn.

Figure: Profit Model

(3) Incentive Mechanisms and Ecological Growth
Through a distributed reward mechanism, verification nodes, developers, and ordinary users can all receive token rewards, which not only enhances the security of the network but also promotes the prosperity and development of the ecosystem.

Advantages and Future Prospects of EYWA

EYWA, with its unique technology and economic model, has taken a leading position in the cross-chain solution.

• Efficiency and security: Based on a distributed verification network, it avoids single points of failure and improves transaction efficiency.
• Decentralized governance: Ensure the fairness and transparency of the network through the governance mechanism of token holders.
• Broad application prospects: EYWA has demonstrated strong adaptability in both the DeFi field and the Web3 ecosystem.

In the future, EYWA plans to further expand the application scope of its cross-chain protocol, and attract more developers and users through an optimized token economic model, together building a truly interconnected blockchain ecosystem.

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