Bitcoin Meets DeFi: New Mining-Backed Model Revolutionizes BTC Use

• EverValue’s Burn Vault links EVA tokens directly to Bitcoin, ensuring scarcity and stability through a unique burn mechanism.
• Regular audits, whale-proof measures, and continuous burns position EverValue as a key player in integrating Bitcoin into DeFi.

EverValue, a DeFi project on the Arbitrum network, is pioneering a unique integration of Bitcoin into decentralized finance. This development aligns with a previous CNF update revealing a growing connection between Bitcoin and DeFi.

By leveraging a Bitcoin-backed mechanism, the project aims to provide stability and predictable growth for its EVA token. The key innovation is its “Burn Vault,” where wrapped Bitcoin (wBTC) supports EVA’s price floor. According to the EverValueCoin page:

EVA is a new token with real value in Bitcoin because it is fully backed by Bitcoin. It has a unique and final issuance of 21 million, making it better than Bitcoin in this aspect. It operates in a ‘smart contract’ wallet where new Bitcoin is deposited daily but can only be withdrawn by burning EVA tokens.

Importantly, users can withdraw BTC only by burning EVA tokens, ensuring scarcity and consistent value appreciation without staking or lockups.

Scarcity and Security in Focus

EverValue’s capped supply of 21 million EVA tokens, combined with its burn mechanism, embeds scarcity and long-term stability into its tokenomics. Additionally, the Burn Vault grows daily through Bitcoin mining and token sales, with over 110 wBTC currently secured.

The platform also employs a whale-proof mechanism to limit large holders’ market influence, ensuring fair participation. Regular audits by Hacken, a leading cybersecurity firm, further enhance trust and transparency.

Driving Adoption Through Innovation

CEO Flor Ayala envisions deeper integration of Bitcoin into DeFi systems, aiming to expand utility and drive adoption. While Bitcoin (BTC) is currently trading at $96,000.06, with a slight decrease of 0.84% in the past day and a 1.70% surge over the past week, EverValue’s presale success—raising over 75 BTC—highlights strong investor interest.

Continuous token burns, with 500,000 EVA already burned and 250,000 scheduled monthly, further support value stability.

Credit: Source link