, a cross-chain liquidity and data protocol, has announced the Stakedrop of its BEP-20 tokens on Catapult as per a recent announcement
The EYWA Stakedrop on Catapult
The protocol has allocated 250k EYWA tokens in this pool on Catapult—a launchpad where investors can invest in potential projects and benefit from Stakedrop—a public round distribution method guaranteed to uphold fairness. Interested participants have to connect their non-custodial wallets on Catapult, submit their personal details as part of Know-your-Customer (KYC) compliance, before placing ATD tokens in the EYWA Stakedrop pool.
The staking period will be one month. Users are capped to stake a maximum of 12k ATD tokens. At the end of the staking period, EYWA tokens will be distributed to Stakedrop participants based on how long they stake, the total amount of ATD locked in the pool, and the amount staked. In all, the ATD pool size is 500k, where each EYWA token will be available for $0.2. The creators of EYWA also revealed that 30 percent of tokens would be released during the generation event and 23 percent every month.
The deployment of EYWA on the BINANCE Smart Chain (BSC) is strategic. While the base layer is scalable and has relatively low trading fees, the network is also interoperable. It can connect with Ethereum's virtual machine. As a result, it syncs with EYWA's objective of promoting interoperability, creating value for users keen on tapping blockchain properties in DeFi and other emerging sub-sectors. At the core, the EYWA protocol allows the transfer of value and data across connected blockchain, building a secure base for full cross-chain interoperability.
A Protocol Built for Cross-Chain Interoperability
Central to EYWA is the Cross-chain Liquidity Protocol, which connects automated market maker (AMM) exchanges deployed on various blockchains and smart contracts of the EYWA Cross-chain Bridge system in one interface.
On the other hand, the EYWA Cross-chain Bridge system comprises secure smart contracts purposefully deployed to mint and burn synthetic assets in multiple networks. It is decentralized and open-source, connecting various heterogeneous blockchains. Additionally, the data transfer capability of the platform is powered by the Cross-chain Data Protocol.
For high data veracity, the EYWA protocol has incorporated a Relayer Network, a layer of decentralized oracles ensuring every data transmitted between blockchains and influencing smart contracts action has been verified and tamper-proof. Every transaction posted within the EYWA ecosystem or connected networks has to be processed by the Multichain Gasless system.
A Cross-Chain Approach for Developers to Build Limitless Use-Cases
EYWA developers are cognizant of the ever-evolving needs of diverse users and the need for seamless interoperability. Allowing seamless interconnectedness between networks and protocols makes it incredibly easy for funds to flow between chains, benefiting end-users.
Of note, by adapting the cross-chain implementation, the platform ports several advantages for network developers. For instance, in building their dApps, creators will leverage the benefit of specific blockchains when releasing certain functionality. It is a flexibility that also allows developers to efficiently separate dApp logic between multiple networks.
Besides, through the Cross-chain Liquidity Protocol, common cross-chain pools can be created, leading to better depth in DeFi. Subsequently, it means traders can trustlessly swap tokens quickly in a low-slippage environment using a secure system of interconnected curve-pools in a hub-chain deployed from Ethereum's layer-2 network, Harmony One. Overall, this significantly boosts user experience while creating a solid base where developers can create limitless use cases in DeFi and beyond.
