What is Evrynet? Overview of the Evrynet project

Overview

Over the past few years, the evolution of DeFi has begun to change the way people think about financial products and services. The success of protocols like Uniswap and Sushiswap has shown the unlimited potential of blockchain technology in bringing exciting innovations to the market.

Like any new industry, DeFi still has its limitations. Realizing that, Evrynet was founded by the team in 2018 and has had a long development journey up to now. With the help of blockchain technology and smart contracts, Evrynet aims to provide fast, cheap, and secure methods of transferring money globally without unnecessary intermediaries.

What is Evrynet?

Evrynet is a smart routing blockchain, conceived and developed in partnership with Kyber Network and Stellar. Evrynet’s vision is to build the foundation for the CeDeFi network for financial services, with a focus on the Southeast Asian market and beyond.

Evrynet provides a platform for other developers to build DApps. By combining full-service operations with smart contracts along with a financial services gateway, contract network, and accounting and settlement component, Evrynet will provide the infrastructure for developers and project Another project to build DApp. It also simplifies third-party integrations by providing basic financial templates, APIs, and SDKs.

Development team

Evrynet was founded by Chatchaval Jiaravanon and Tridbodi Arunanonchai. Together with members with diverse and synergistic backgrounds (technical and commercial experience in crypto, fintech, and investment), providing a solid foundation on which to build Evrynet and deliver on its commitment to financial integration of real-world assets into the world of DeFi and provide full financing to Evryone

Chatchaval Jiaravanon has built and managed leading companies in the fields of telecommunications, media, and financial services. He has also invested in a diversified portfolio of global companies and sits on the boards of several reputable public listed companies in Asia.

Tridbodi Arunanondchai is a serial entrepreneur interested in the financial services sector. He has founded several blockchains and traditional startups including the energy, digital lending, and travel sectors. He is also a venture partner at a leading venture capital fund in Southeast Asia.

Soon Chua-Project CO-Lead: worked at several microfinance startups in Asia

Matana: former IB, strategy, and planner at a leading real estate developer)

Technology

The Evrynet ecosystem uses the Tendermint consensus protocol through a POS (proof of stake) mechanism to provide the best balance between speed and security.

Some special points that the project team focused on building for Evrynet:

Scalable and interoperable multi-chain functionality: allows Evrynet to work with other blockchain protocols. Initially, Evrynet will support the Binance Smart Chain, Stellar, and Ethereum networks, followed by other major chains in the next phase.
Consensus relies on the Tendermint consensus protocol to enhance network speed without compromising security.
Flexible Staking Model: the proof-of-staking consensus will also increase the use cases for the Evry token and secure the system economically.
Transaction Fee Scheme: a static gas fee model (Evrynet’s governance processes make it possible to adapt it in response to changing situations), allowing Evrynet to predict the cost of network usage. They also allow DApps or businesses to choose who pays the transaction fees. This will hopefully make it easier for new users to join, who don’t need to have the original token.
Enterprise Smart Contracts: features like Multisig and allows the contract provider to pay gas fees on behalf of the end-user.

Finance

Evrynet raised $7 million in a Private sale led by Signum Capital with participation from Petrock Capital, Ellipti Ventures, and others. Additionally, the participation of notable early backers from HashKey Capital, Everest Ventures, Hanhwa Investments and Securities, Seven Bank, UOB Venture Management, Uni-President Asset Holdings, Hopeshine Ventures, and Du Capital.

Product

The first application will be built on top of Evrynet in Evry.Finance is focused on connecting institutional investors to the DeFi world. It will provide flexibility, stability, and deep liquidity. It plans to achieve this by offering institutional-targeted features such as multi-sig wallets, enterprise smart contracts, and Hybrid DEX with order book and AMM/DMM pools as well as a dedicated section for KYT and zero-knowledge support. Furthermore, Evry.Finance will offer a wide range of yield products with variable maturity and different yield types.

An important use case for Evry.Finance involves connecting real-world assets/returns to DeFi or asset tokenization. Evrynet is working with some of the top crypto asset managers. This would validate the thesis that Evrynet and Evry.Finance can bridge the gap between the real world and digital financial services with both institutional and individual users, giving them access to the products new.

Development roadmap

Some upcoming releases this year:

Evrynet 2.0: An enhancement on the 1.1 release that supports updated support for the Tendermint Consensus engine and some performance changes to Evrynet Core.
EvryScan 2.0: A performance-enhancing upgrade for a blockchain explorer
EvryHub 2.0: An upgrade to version 1.0 for cross-chain interoperability to support Stellar $XLM format tokens
Evry.Finance 1.0: Extends 0.5 release of the leading dApp to incorporate AMM (Automated Market Maker) and DMM (Dynamic Market Maker) into the platform.
Evry.Finance 1.5: Scheduled for Q4, this will launch Order Book and Smart Order Routing functionality

Competitors

Updating…

Current partner

The Evrynet project is supported by great advisors and organizations, who believe in the project and have contributed greatly to guiding the team to build a better project.

Tokenomics

Token Name: EVRY
Total supply: 1 billion EVRY, expected to start circulating at 30 million EVRY.

The EVRY token supply is planned to be distributed as follows:

Token EVRY has the following utilities:

Native assets
Gas fees for dApp projects
Base token for liquidity pool (yield farming)
Base token for a swap on a decentralized exchange
Basic collateral and loan assets
Collateral for validator nodes
Authorized voting on network governance
Rewards for validator nodes

Conclude

With a team of experienced members and the right background, an exceptional team of advisors, and backed by influential organizations, Evrynet is well on its way to realizing its vision. We believe that Evrynet will be a bright name in the future

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