The EYWA project has its roots in the asset management fund operating within a decentralized finance realm that was created by the EYWA founders in 2020 on a verge of DeFi future growth. With the following start of new blockchains launches, its ecosystems have started to rapidly develop and a necessity to transfer liquidity among various chains has emerged.
Such need has led our founders to a search for a new solution to increase profitability in different ecosystems. The asset management fund has had a Blockchain Lab composed out of the EYWA founders that had gotten an aim to find the needed solutions. At the given time, currently popular blockchains were launched and the liquidity transfer issue has reached its highest relevance.
Before EYWA was founded, its CEO - Boris Povar and the team, took a part in beta testing of all present bridging solutions back in to 2020 in order to research its availability and efficiency. As a result, the following obstacles were encountered: a lack of reliability on stable functioning of solutions and an absence of trust in terms of transferring great volumes of crypto assets. Via communication with other farming funds for asset management, it has become clear that the mentioned issues have become a solid limitation in DeFi. With a long-term experience and research done within decentralized finance, the founders have obtained a deep-dive understanding of complexities and specifications of the given market, liquidity providers demands and needed UX that allowed them to take new heights.
In 2020 the founders participated in the hackathon EthGlobal MarketMake and won a prize from Chainlink - Proof of Concept, and started to implement their own oracles network with a high extent of decentralization, infinity scalable and backed by complex researches, analytics and IT security experts involvement. As a consequence, such gained scope of experience and knowledge led to the EYWA creation. The project’s seed investor was the founders' asset management fund and EYWA has started its development.