About EYWA
Eywa is an ecosystem that provides effective communication between blockchains and includes two major components:
- Consensus bridge – a trustless token and data bridge that uses the consensus of the safest data transfer protocols in the market for transaction verification, such as Axelar, Chainlink CCIP, L0, and Wormhole.
- CrossCurve – a cutting-edge cross-chain trading and yield protocol that addresses the issue of fragmented liquidity through the use of Curve Finance's deep liquidity pools, the world's largest decentralized exchange.
Source: EYWA’s website
EYWA’s global mission is to unite the fragmented DeFi market*. The aim is to enable the industry to reach a new level of maturity and bring DeFi to the masses. The protocol is focused on making decentralized finance efficient, simple, and convenient for all, even for beginners.
This fragmentation creates problems for business and retail cryptocurrency users by spreading money too thinly as each protocol must maintain its own liquidity pools. This thin distribution of liquidity makes pools smaller than ideal, creating pain points and eating into users' trading profits due to slippage.
The need to move money around the system to solve the problem of shallow liquidity means that cross-chain bridges have proliferated over the last couple of years, but bridges are disparate solutions that operate independently of each other, so users may have to move from one to another. the other to move liquidity.
Eywa empowers users with the opportunity to quickly and economically swap assets across multiple chains and provides yield farming for liquidity providers.
How Can You Earn Points?
Source: CrossCurve’s website
- Providing Liquidity: If you provide liquidity, points are calculated this way:
[amount of locked liquidity in $] x [number of days of locking]
You get the points instantly after providing liquidity. The longer you keep your assets locked, the more points you get.
- From swaps. The pool earns fees on swaps, and we share 50% of all fees with liquidity providers.
- Claiming Galxe NFTs: Claiming each NFT from the community on Galxe grants a one-time bonus of Points. The number of points depends on the NFT's rank. The higher the NFT rank you claim in each category, the larger the one-time bonus in points you gain.
- Referral Program: Maximize your points by inviting your friends to EYWA's 3-level referral program.
Source: CrossCurve’s website
Explore the Leaderboard and an improved Referral system here.
Is EYWA Safe?
EYWA is a strongly secured ecosystem that went through various audits. Such as:
- EYWA CDP security audit by Smartstate
The core EYWA ecosystem’s element is the EYWA Cross-chain Data Protocol, which is a transport layer between blockchains. All EYWA products for DeFi users are based on this protocol.
CDP Smart Contracts: These smart contracts are in charge of sending and accepting cross-chain calls. They also include a node registration contract used in the Proof of Authority (POA) consensus among oracle nodes.
- EYWA CLP security audit by Smartstate
EYWA Cross-chain Liquidity Protocol processes the operation of EYWA DEX v1.
CLP smart contracts - are smart contracts for processing synth and burn operations, as well as mint and lock tokens. They also take care of swap processing and liquidity handling operations.
- Security audits by Hexens
The Hexens team audited various components of EYWA: the BLS cryptography module in EYWA CDP and EYWA NFT.
Final Thoughts
With the significant capital required to realize EYWA's ambitions, the project is destined for success.
This transformation positions EYWA as the path to secure multi-protocol transactions that will further enhance its role in the DeFi ecosystem for years to come. This can only be achieved by integrating a range of advanced technologies and best-in-class protocols.
Consensus relies on cross-chain bridges, including LayerZero, Axelar, Wormhole, and Chainlink, to offer users the most granular level of control. The innovation ends the limitations of a single bridge, giving users more choice and control when moving large liquidity positions.
EYWA and CrossCurve made a prominent contribution to the future of DeFi. It’s another important element in the world of decentralized finance making it safer and more user-oriented.