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When was EYWA founded? The date of foundation of the EYWA project is December 2020.
Is EYWA the fully decentralized project? We are dedicated to achieve full decentralization of the EYWA project via a complete transfer of control to the DAO. Currently, Multisig will be used to manage smart contacts. A part of the EYWA Oracle Network will be fully decentralized after PoS mainnet launch. What authorities do the creators of the EYWA project have? The creators of the EYWA project will execute the decisions from the EYWA DAO.
Where can I ask my question about the project?
There have been a lot of protocol hacks lately. How do you protect user funds?
EYWA has a long-term contract with a team of security auditors - Hexens. The team selection is based on a proven track record of successful hacking, ethical hacking, and past audit experiences. The long-term contract is required for constant maintenance of the code and auditing of all changes. Branches of completed development are submitted for an audit for external verification. Each major release is submitted for the re-audit by an independent audit company. We are currently partnering with Zokyo, Hacken, Consensys Diligence, Certik, Quantstamp, SlowMist, Trail of Bits, OpenZeppelin, SolidProof, Kudelski to estimate code audit scope and timing for the upcoming mainnet release.
Where can I find out about project news?
How can the EYWA project be useful to me as a cryptocurrency user? Within the framework of the EYWA project, the following operations with cryptocurrencies are available:
- 1.Transfer of stablecoins in different networks with the EYWA cross-chain DEX;
- 2.Buying tokens for stabelcoins on another network supported by EYWA CLP
- 3.Sell tokens and receive stabelcoins for selling on a network supported by EYWA CLP
- 4.Staking of EYWA tokens;
- 5.Cross-chain farming;
- 6.EYWA liquidity farming.
What networks are supported by EYWA?
Currently supported chains: ETHEREUM, POLYGON, BNB CHAIN, AVALANCHE, FANTOM, ARBITRUM, OPTIMISM.
What are the key use cases for EYWA?
- Connected markets. Connecting markets of different chains by decentralized transferring of funds between networks and exchange of arbitrary assets of one network to arbitrary assets of another. For example, users can swap CAKE tokens on BNB Chain to USDT on Ethereum to fix profit and hold funds on a more decentralized network;
- Connected liquidity. Today, users cannot easily take advantage of opportunities on chains where they do not hold assets. For example, suppose that a user with assets consolidated in ETH wants to take advantage of an opportunity on Polygon. Cross-chain enables a lending protocol that would allow the user to keep their entire asset base in place on Ethereum, lend it out, then borrow directly in MATIC on Polygon. This eliminates intermediary costs such as bridge and swap fees;
- Solving the Scalability Trilemma. Separate execution of business logic across different networks allows solving the scalability trilemma by leveraging the best sides on networks. For example, proceed with the decision-making process on the cheap and efficient network and commit the final result to Ethereum DAO;
- Growing potential and the cost of adoption. Networks are disconnected from the community perspective as well as data. Providing opportunities to other chains to connect the product with a bigger community and potentially decrease the cost of adoption.
How does EYWA differ from the competitors? How EYWA differs from THORChain Both projects use intermediate assets to increase the efficiency of cross-chain exchanges through the provided liquidity. But unlike THORChain, the EYWA project uses different assets with the exact nature, which significantly increases efficiency with Curve StablePools; How EYWA differs from Anyswap bridges Bridges solve the problem of creating derivatives in one network backed by locked funds in another. Since the EYWA Cross-chain Data Protocol allows the implementation of any business logic, the simplest bridge was the first use case; How EYWA differs from data protocols (Chainlink CCIP, Axelar): Data transfer protocols do not push how they are used, and the only vector of comparison is protecting the protocol from external and internal threats. Now, only Proof-of-Authority consensus solutions are available on the market. They are vulnerable to censorship and collusion. But in the test is Axelar, a data transfer protocol with DPoS consensus. DPoS is a more decentralized solution, but inferior to Roll-DPoS in attack cost and more vulnerable to collusion.
I want to understand how EYWA works. What can I read? You can find out how EYWA works via the following links:
- EYWA on GitBook - documentation about the project for DeFi users and dApp developers is available here. User Documentation, Advanced Theory, Developer Documentation, and Node Operator Documentation are currently available;
- EYWA official website - here you can get acquainted with the EYWA project and its ecosystem, read the White Paper, check out the EYWA cross-chain DEX and stay up to date with the latest project news;
- EYWA Protocol on GitHub - EYWA is an open-source project. Our repositories are open for further usage on GitHub. At the moment, contracts, eywa-constants, chain, wrappers, eywa-landing and many others are available for forks and discussion
What projects did EYWA receive grants from? Harmony One, NEAR Foundation, Algorand Foundation, Metis, Aurora, CoinEx.