This documentation describes the mechanism of the EverValue Coin protocol. The metrics shown are read from the same data source as the rest of the site and can be verified against the contracts listed in Contracts and addresses.
Current metrics
The protocol maintains two floors, one per vault. The Burn Vault Boost concentrates backing in a limited quota of EVA and defines the guaranteed floor, the main value displayed on the site. The Burn Vault Core divides the backing across the entire supply and defines the base floor, which applies to any EVA. The mechanics of the two contracts are described in Burn Vault.
Documentation structure
Getting started
Introduction
Definition of the token, the problem the protocol sets out to solve and the core properties of the design.
Getting startedHow it works
The operating cycle: Bitcoin mining, daily deposits into the vaults, floor recalculation and redemption via contract.
Mechanism
Burn Vault
The wBTC vaults that define the floor: Burn Price mechanics, withdrawal restrictions and how the Boost works.
MechanismMathematical model
Formal definition of the Burn Price, monotonicity proof, break-even and the relationship between the floor and the market price.
Verification
Transparency
Which protocol data is public, the independent verification procedure and the provenance classification of the numbers displayed.
VerificationSecurity and audits
Security properties of the contracts, the scope of the Hacken and CertiK audits and external dependencies.
VerificationRisks
Risk factors outside the guarantees of the code: Bitcoin volatility, wBTC dependency, the mining operation and regulation.
VerificationContracts
Addresses of the protocol contracts on Arbitrum and instructions for reading the data on Arbiscan.
Reading order and conventions
For a first read, follow the order Introduction, How it works and Burn Vault. To verify the protocol's properties independently, consult the mathematical model and the addresses listed in Contracts.
Every number on these pages carries a provenance badge that identifies its source: on-chain (blue, read directly from the blockchain), live-calculated (orange, derived from on-chain data via the formula) or live from the pool (green, read from the mining pool's public watcher). The definition of each badge is in Transparency.