What EVA is
EverValue Coin (EVA) is an ERC-20 token on the Arbitrum network. Each token has a minimum redemption price in Bitcoin, the Burn Price, defined by an immutable contract that holds a wBTC reserve. By construction, this minimum does not decrease.
The supply is fixed at 21,000,000 EVA, issued in full at launch, with no mint function. Since then, the circulating supply only decreases: every wBTC redemption permanently burns the corresponding tokens.
The problem the protocol solves
Accumulating Bitcoin with yield normally requires handing over custody of the assets or running your own infrastructure. The usual alternatives have well-known limitations:
- Centralized lending: requires handing over custody and exposes the user to the platform’s insolvency risk, as in the Celsius, FTX and BlockFi cases.
- Running your own mining: requires high upfront capital, low-cost energy, specialized hardware and continuous operation.
- DeFi solutions on Bitcoin: tend to add layers of contracts and composability risks that are hard to assess.
Protocol design
- A proprietary mining operation (2,931 machines in total, in Paraguay) produces Bitcoin daily.
- The Bitcoin, converted into wBTC, is deposited into an Burn Vault, with no administrative withdrawal function.
- The floor of each EVA is the vault balance divided by the circulating supply. Daily deposits raise the floor; Redemption converts EVA into wBTC at any time.
The mechanism operates with two vaults. The Burn Vault Core applies the formula to the entire supply and defines the base floor of any EVA. The The Burn Vault Boost, a separate contract, concentrates part of the backing in a limited quota of tokens: with a smaller denominator, the floor of that quota is higher and more sensitive to each deposit. The Boost’s guaranteed floor is the main value displayed on the site.
Central property
Daily deposits increase the numerator of the formula; burns reduce numerator and denominator in the same proportion. The result is a floor in BTC that does not decrease, as demonstrated in the Mathematical model.
Properties
- Fixed supply: 21,000,000 EVA, no mint function; the supply only decreases through burning.
- Verifiable backing: the vault is funded by daily deposits from mining and one-off contributions, all recorded on-chain.
- Immutable contracts: no multisig, no admin key, no upgrade function; audited by Hacken and CertiK.
- Redemption directly on the contract: conversion of EVA into wBTC at the Burn Price, with no intermediary and no prior approval.
- Public data: deposits, burns and balances verifiable on-chain.
Who it is for
The protocol is intended for those seeking Bitcoin exposure with a guaranteed redemption minimum, without running mining operations and without third-party custody.
Risks
No protocol is free of risk. Before making any decision, read the Risks page.