EYWA (EYWA)

EYWA is a decentralized cross-chain liquidity and data protocol designed to facilitate seamless communication and asset transfers between multiple blockchain networks. By addressing the challenges of liquidity fragmentation and interoperability, EYWA enables efficient cross-chain transactions, enhancing the decentralized finance (DeFi) ecosystem.

EYWA operates as a cross-chain protocol that connects various blockchains, allowing for the transfer of assets and data across different networks. Its architecture comprises two main components:

1. Consensus Bridge 

EYWA consensus bridge | Source: EYWA docs

A trustless token and data bridge that utilizes the consensus of secure data transfer protocols, such as Axelar, Chainlink CCIP, LayerZero, and Wormhole, to verify transactions.

2. CrossCurve

EYWA CrossCurve | Source: EYWA docs

An innovative cross-chain trading and yield protocol that leverages Curve Finance's deep liquidity pools to address liquidity fragmentation.

Core Features of EYWA

• Cross-chain Liquidity Protocol (CLP): EYWA's CLP enables projects to manage cross-chain liquidity effectively, offering end-users comprehensive cross-chain trading capabilities through a decentralized exchange (DEX).

• Cross-chain Data Protocol (CDP): A decentralized protocol for transferring data among different blockchains, serving as the transport layer for all EYWA ecosystem products. The protocol is open-source, allowing developers to implement cross-chain logic for their projects.

• EYWA Assets: Convertible meta-assets backed by real assets from various blockchains, hosted within the EYWA Token Bridge. For example, EUSD is an asset backed by different stablecoins from major blockchains, facilitating singular access to liquidity across DeFi ecosystems.

• Cross-chain DEX: A decentralized exchange that allows users to trade tokens across multiple networks, including Ethereum, Polygon, BNB Chain, Fantom, Avalanche, and Arbitrum. The DEX operates based on Curve Finance's pools, ensuring low-slippage exchanges and a seamless user experience.

• Decentralized Exchanges (DEXs): EYWA's infrastructure supports cross-chain trading, enabling DEXs to offer users the ability to trade assets across multiple blockchains seamlessly.

• Liquidity Providers: By contributing to EYWA's cross-chain liquidity pools, providers can earn rewards and facilitate efficient asset transfers across networks.

• Developers: EYWA's open-source protocols allow developers to build cross-chain applications without the complexities of interoperability, focusing on business logic and user experience.

EYWA is the governance token of the EYWA/CrossCurve ecosystem, playing a pivotal role in platform governance, fee distribution, and incentive mechanisms.

EYWA Token Use Cases

• Governance Participation via veEYWA: Holders can lock their EYWA tokens to receive veEYWA (voting escrow EYWA), granting them voting rights within the EYWA DAO. The locking period can extend up to three years, with longer durations providing greater voting power. This mechanism enables participants to influence key decisions, including platform governance, emission allocations, and fee distributions.

• Emission Voting: veEYWA holders can participate in biweekly emission votes through the Cross-chain Gauge System, shaping the incentive structure across markets. Votes can direct emissions toward CrossCurve pools, allocate incentives for bribe payments to platforms like Curve and Convex, or contribute to the protocol's own liquidity accumulation.

• Fee Distribution: By locking EYWA for veEYWA, holders are entitled to a share of platform fees, including those from swaps in CrossCurve pools and the Eywa Consensus Bridge. Additionally, revenues generated from the protocol's own liquidity and participation in other DAOs are distributed to veEYWA holders.

• Boosting Voting Power with EYWA NFTs: EYWA introduces a unique NFT collection that can be combined with locked EYWA tokens to enhance voting power. Each NFT has a specific capacity and multiplier effect, allowing users to increase their influence within the DAO. For instance, attaching a Legendary NFT can provide a 2.8x multiplier on up to 250,000 EYWA tokens.

• Staking and Farming Rewards: veEYWA holders can earn increased EYWA rewards by providing liquidity to CrossCurve pools. Staking rewards are distributed proportionally to voting strength, incentivizing active participation and long-term commitment to the ecosystem. 

EYWA DAO and Governance

EYWA’s revenue model | Source: EYWA docs

The EYWA DAO serves as the decentralized governing body of the protocol, with veEYWA holders steering strategic decisions. The DAO's primary objective is to attract sustainable cross-chain liquidity and manage the protocol's own liquidity, ensuring optimal conditions for cross-chain swaps.

Revenue Model

The protocol generates revenue through:

• Platform Fees: Collected from swaps in CrossCurve pools and the Eywa Consensus Bridge.

• Protocol-Owned Liquidity: Earnings from the protocol's liquidity provisions.

• DAO Participation: Income from votes in other DAOs, such as Curve and Convex.

These revenues are distributed to veEYWA holders, aligning the interests of participants with the protocol's success. 

EYWA Total Supply and Token Allocation 

• Total Supply: 1,000,000,000 EYWA tokens.

• Listing Price: $0.07 per token.

• Fully Diluted Valuation (FDV): $70,000,000.

• Market Capitalization at Token Generation Event (TGE): $3,023,740.

• Initial Circulating Supply: 43,196,286 EYWA tokens (4.32% of total supply) will be in circulation post-TGE, encompassing tokens allocated for community rounds, market-making, airdrops, treasury, and key opinion leaders (KOLs). 

EYWA token distribution | Source: EYWA docs

EYWA Token Distribution

• DAO Treasury (33%): Approximately 330 million tokens reserved for future development, partnerships, and ecosystem expansion.

• EYWA Foundation (17.2%): Around 172 million tokens allocated to support the foundation's initiatives and operational activities.

• Team (13%): 130 million tokens designated for core team members, subject to vesting schedules to ensure long-term commitment.

• Strategic Round (8.8%): 88 million tokens allocated to strategic investors who provide value beyond capital, such as industry connections and expertise.

• Round 1 Investors (5.2%): 52 million tokens distributed to early investors participating in the first funding round.

• Advisors (5%): 50 million tokens set aside for advisors contributing to the project's strategic direction and growth.

• Pre-Seed Investors (5%): 50 million tokens allocated to initial investors who supported the project at its earliest stages.

• Round 2 Investors (4.11%): Approximately 41.1 million tokens designated for participants in the second funding round.

• Airdrop Season 1 (3.03%): About 30.3 million tokens distributed to early adopters and community members to encourage engagement and adoption.

• Community Round (2.15%): 21.5 million tokens allocated to community members, fostering inclusivity and broad participation.

• Early Farming Program (1.5%): 15 million tokens reserved for rewarding early liquidity providers and participants in farming programs.

• Airdrop for Alpha Testers (1%): 10 million tokens distributed to alpha testers who contributed to the project's development and testing phases.

• KOLs Round (1%): 10 million tokens allocated to Key Opinion Leaders (KOLs) who play a role in promoting and expanding the project's reach.

Vesting Schedule 

EYWA token vesting schedule | Source: EYWA docs

EYWA employs a structured vesting schedule to ensure market stability and align incentives:

• Vesting Periods: Different user categories have specific lockup periods, with tokens unlocking according to predefined schedules. This approach mitigates market volatility and encourages long-term engagement.

• Transferability: Allocations exceeding 1.5 million tokens can transfer vesting tokens to whitelisted addresses, facilitating over-the-counter (OTC) transactions. Smaller allocations can utilize EYWA NFTs to enable token transfers, providing flexibility within the vesting period.

• Staking During Vesting: Holders of vesting tokens can stake their tokens before the end of the vesting period to earn staking and farming rewards, promoting active participation even during lockup. 

EYWA Protocol roadmap | Source: EYWA docs

EYWA is set to achieve several significant milestones in the upcoming quarters, focusing on expanding its ecosystem, enhancing token utility, and strengthening community governance.

Q4 2024

• Expansion of Liquidity Pools and Chain Integrations: Introduction of new xWETH and xBTC pools, alongside support for additional chains such as Linea, Mantle, Blast, and Taiko, broadening the protocol's reach and interoperability.

• Early Farming with rEYWA: Launch of a unique program for liquidity providers, rewarding participants with rEYWA tokens, which are exchangeable for $EYWA at a 1:1 ratio post-Token Generation Event (TGE).

• First Cross-Chain Listing on CrossCurve: Debut of a project on the CrossCurve DEX, enabling the listed token to be traded across all networks integrated into CrossCurve.

• Community Token Sale Rounds: Exclusive $EYWA token sale opportunities for the EYWA community, including alpha-testers, airdrop-eligible participants, and key partners such as Curve Finance and Alphamind, prior to public listing.

• Activation of NFT Utilities: Migration of EYWA NFTs to the Arbitrum network, activation of NFT merging functionalities, facilitation of airdrop claims post-TGE, and listings on prominent marketplaces to enhance NFT utility.

• Token Generation Event (TGE): Issuance of $EYWA tokens, commencement of the unlock period, and preparations for listing on centralized exchanges (CEXs).

• Centralized Exchange Listing: Introduction of the $EYWA token to centralized exchanges, scheduled for December 2024, increasing accessibility and liquidity.

• Launch of EYWA DAO: Transition of control over EYWA smart contracts to the DAO community, establishment of an incentive marketplace, initiation of veTokenomics, and stimulation of $EYWA demand among Web3 projects and liquidity providers.

• Implementation of Multiple Incentives within EYWA DAO: Enhancement of income in various pools through collaboration with Curve Finance, with revenue governance determined via DAO voting mechanisms.

• Adaptation of TG Mini App Llamaville for On-Chain Education: Integration of educational tools to facilitate on-chain learning and user engagement within the EYWA ecosystem.

Q1 2025

• Upgrade of Hubchain to Sonic: Enhancements aimed at reducing gas fees, increasing transaction speeds, and bolstering security by integrating with the Consensus Bridge, thereby improving overall network performance.

• Integration of Partner Bridges and Tokens into CrossCurve: Addition of new tokens from major partner projects for seamless swapping on CrossCurve, expanding the range of assets available to users. 

EYWA presents a comprehensive solution to the challenges of blockchain interoperability and liquidity fragmentation. Through its innovative protocols and commitment to decentralization, EYWA enhances the DeFi landscape by enabling seamless cross-chain transactions and fostering a more interconnected blockchain ecosystem.

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