Dhanda and Jain’s Statements

Jupiter COO Kash Dhanda admitted that social media posts claiming “zero risk” were inaccurate.

Dhanda said, “We said there was zero risk on social media, which wasn’t entirely correct. We deleted the post, but we should have issued a correction immediately.”

He also explained that the vaults are managed with their own rules, and a portion of the investments can be used in other operations. Fluid co-founder Samyak Jain confirmed that user funds are not completely separate but noted that each vault has its own limits, collateral ratios, and penalty rules. This ensures some level of protection but invalidates full isolation claims.

Rival Criticism and Community Concerns

Kamino co-founder Marius Ciubotariu criticized Jupiter Lend’s structure. On X, he wrote, “If you deposit SOL and borrow USDC, your SOL gets used in other positions. All the risk falls on you. There’s no isolation; risk spreads across investments.”

Ciubotariu also emphasized that “using the term ‘isolated’ this way is misleading,” noting that rehypothecation nullifies any isolation claims. Kamino blocked certain Jupiter tools to prevent misleading users and requested the migration tool to be fully two-way.

(Rehypothecation means deposited collateral or assets can be reused by the platform in other operations.)

An industry insider anonymously commented, “Claiming isolation while using funds elsewhere is a breach of trust.” This view reflects growing community concerns.

Key Takeaways:

• Some funds are reused in other operations

• Risk can spread to other investments

• Users may not fully understand the exposure

• Deleting previous posts reduced trust

• Rival and industry warnings highlight potential violations

Performance, TVL, and Future Plans

Jupiter Lend’s total value locked exceeds $1 billion. The protocol reported zero losses during the major market crash in October. Dhanda stated that each vault operates under its own rules and limits, generating yields through these mechanisms.

Ciubotariu countered, “The platform was only live for one month with few positions. It requires years of testing to call it ‘safe.’” Jupiter Lend offers loan-to-value ratios up to 90% and uses a “custom liquidation engine” to manage risk.

Jupiter plans to release additional documentation and an explanatory video after the Solana Breakpoint conference, aiming to increase user confidence and enhance security across the Solana ecosystem.

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The post Jupiter (JUP) Lend Risk Debate Sparks Solana Concerns appeared first on Coin Engineer.

Founders and Team

The EVAA team consists of four experienced members in finance, blockchain development, and marketing: 

• Vlad (CEO): 3 years in DeFi, developed two successful lending protocols, 4 years in traditional finance risk management. 
• Vladislav (CTO): Former TON Foundation member, 7 years in software development, 4 years in DeFi application development. 
• Alexander (CGO): 5 years in entrepreneurship and game development. 
• Alexander (CMO): 7 years in crypto product marketing, co-founder of a Telegram mini-app accelerator. 

Investors and Partnerships 

Seed Round: 

• Animoca Ventures: Part of Animoca Brands; invests in gaming, metaverse, and DeFi projects. 
• TON Ventures: Official investment arm of the TON ecosystem. 
• Polymorphic Capital: Supports Web3 and early-stage DeFi projects. 
• PAKA: Web3-focused investments since 2020. 
• Mythos Ventures: Invests in decentralized, user-centric Web3 projects. 
• Frens Syndicate x VC DAO: Community of Web3 founders and investors. 

Pre-Seed Round: Supported by strategic Web3-focused investors including First EVAAngelist, TONStarter, TON Coin Fund ($250M portfolio), Existential Capital, and WAGMI Ventures. 

Project Concept

EVAA brings DeFi to Telegram, allowing users to: 

• Stake assets for yield. 
• Borrow over-collateralized loans. 
• Soon access card payments and non-collateralized loans. 

How the Protocol Works 

• Yield: Deposit assets to earn passive income. 
• Borrowing: Use assets as collateral to borrow funds. 
• Payments: Make fast crypto payments directly via Telegram. 
• Upcoming Features: Card integration and unsecured loans. 
• All actions are accessible via Telegram Mini App or web interface. 

Governance

$EVAA token holders participate in protocol governance by voting on technical proposals and feature updates, promoting a community-driven and autonomous platform. 

Roadmap 

• 2023 – Launch: Foundations, testing, Hackathon awards, NFT releases. 
• 2024 – Mainnet & Expansion: Public mainnet, SDK and EVAA XP launch, open-source smart contracts, exchange integrations, LP pools. 
• 2025 – Growth & Tokenization: TGE, $EVAA staking, DAO governance, liquidity mining, unsecured loans, crypto card, further integrations. 
• 2026+ – Advanced Finance & AI: Expanded credit services, neobank features, AI personalization, transforming EVAA into a community-managed DeFi superlayer. 
• EVAA Protocol is listed on Binance Alpha and Binance Futures. 

EVAA Token Use Cases 

• Governance: Participate in voting. 
• Yield Incentives: Rewards for staking and liquidity provision. 
• Ecosystem Incentives: Support new Telegram features. 
• Deflationary Mechanism: Controlled supply to reduce price pressure. 

EVAA Token Details 

• Token Name: EVAA Token 
• Symbol: $EVAA 
• Type: Deflationary utility token 
• Chain: TON 
• Initial Circulating Supply (TGE): 13.38% 
• Immediate Unlock: 1.71% 
• Total Supply: 50,000,000 $EVAA 
• Max Supply: 50,000,000 $EVAA 
• Circulating Supply: 6,610,000 $EVAA 

Token Distribution 

• Airdrop & Liquidity Rewards: 22% 
• DAO Treasury: 20.08% 
• Founders & Team: 16.5% 
• Pre-seed & Seed Investors: 17.22% 
• Others: Ecosystem development 

EVAA Ecosystem 

• Telegram Mini App: Borrow and lend easily. 
• Web App: Desktop interface. 
• DeFi Superlayer: Combines yield, lending, and payments. 
• TVL: $30M+ (peak $118M). 
• User Base: 310,000+ wallets. 
• Transaction Volume: $1.4B+ 

Key Features 

• First lending protocol on Telegram. 
• Easy integration for DeFi and daily payments. 
• Security backed by major investors and audit firms. 
• Rapidly growing user base and transaction volume. 

Official Links 

• Website
• Twitter
• Telegram

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post What is EVAA Finance (EVAA)? appeared first on Coin Engineer.

Under the new framework, leveraged loans exceeding collateral value are prohibited. Interest rates are capped at 20%. Additionally, lending is allowed only for the top 20 cryptocurrencies by market capitalization or coins listed on at least three licensed local exchanges. 

New Rules for Crypto Lending Services 

The FSC stated in a press release that the guidelines reference global cases and define virtual asset lending clearly. The rules also include enhanced user protection measures. 

Products requiring users to repay loans in cash are restricted, as they violate existing credit regulations. Furthermore, companies offering lending services must use their own capital. Third-party services cannot be used to bypass these rules. 

The guidelines require lending limits based on user experience and transaction history. Moreover, investors must be informed in advance if their positions face liquidation risks. This ensures users avoid sudden losses. 

Implementation Overseen by DAXA 

The new rules apply only to selected cryptocurrencies. If a coin is flagged as a precautionary measure by exchanges, lending services for that asset must be halted. 

The FSC confirmed that the Digital Asset Exchange Alliance (DAXA) will monitor compliance. The commission plans to legislate the rules based on implementation results. 

The guidelines follow the August 19th suspension of credit services at local exchanges. Platforms like Upbit and Bithumb had launched various lending products. However, FSC’s directive required them to halt these services. 

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

The post South Korea Caps Crypto Loan Interest at 20%, Bans Leverage appeared first on Coin Engineer.

Next-Gen Financial Infrastructure

Decentralized Finance (DeFi) has emerged as a transformative force in recent years. However, the user experience in DeFi can often be complex and limiting. This is where NAVI Protocol steps in. Promoted as a “Web3 bank for Web2 users,” the platform is designed to make DeFi more accessible to everyone.

How Does the Protocol Work?

NAVI Protocol operates through shared liquidity pools. Each supported asset has its own pool, where users can deposit funds and earn interest. Borrowers can draw from these pools by offering collateral.

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Each borrower’s position is tracked via a “health factor.” When this metric drops below 1, the position is subject to liquidation. To ensure robust risk management, the platform uses isolation modes, debt ceilings, and oracle-backed pricing systems.

Key Features

NAVI Protocol offers a suite of features focused on enhancing capital efficiency and improving the user experience:

• Liquidity Provision: Earn passive income by supplying assets
• Borrowing: Receive crypto loans by providing collateral
• Flash Loans: Borrow without collateral, provided it’s repaid within one transaction
• NAVI Pro: Advanced tools designed for professional investors
• Volo: Staking and yield optimization system that maximizes asset efficiency

NAVX Tokenomics

NAVX is the governance token of the protocol. With it, users can:

• Participate in governance decisions
• Stake for rewards
• Provide liquidity in NAVX/SUI and NAVX/vSUI pairs to earn LP token incentives

Token Distribution:

• Total Supply: 1 Billion NAVX
• Ecosystem & Airdrops: 45.8%
• Team: 20%
• Investors & Advisors: 16%
• Treasury: 10%
• Liquidity Provision: 4%
• Marketing: 3%
• Public Sale: 1.2%

NAVI Protocol Investors

NAVI Protocol has gained trust not just through its technology, but also its strategic funding. The project raised a total of $2.03 million, aimed at scaling DeFi applications on the Sui blockchain.

The fundraising occurred in two major phases. In early 2024, the private funding round attracted key crypto funds like OKX Ventures, Hashed Fund, dao5, Mechanism Capital, Gate.io, and Arche Fund. This round brought in $2 million to support initial development.

Position in the Sui Ecosystem

NAVI Protocol holds the highest Total Value Locked (TVL) on the Sui blockchain, leading the DeFi sector with $381 million locked. In the BTCFi space, it has attracted over $60 million in staked BTC, reflecting strong user trust.

Its founders have backgrounds at major tech firms like Apple and LinkedIn. With robust infrastructure, a user-centric interface, and extensive security audits, NAVI Protocol aims to redefine the standards of decentralized finance.

Official Links

• Official Website
• Whitepaper
• X (Twitter)
• Telegram

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Strategic Move Into The Solana Ecosystem

On June 5, lending platform Maple Finance announced it is launching its yield-bearing stablecoin, syrupUSD, on Solana, extending beyond its prior availability on Ethereum. The deployment begins on Solana-based Kamino and Orca platforms.

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Backed by an initial $30 million in liquidity, this launch aims to establish a robust foundation for lending, trading, and collateral services within the growing Solana DeFi ecosystem.

Powered By Chainlink CCIP

The integration is supported by Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which went live on Solana’s mainnet on May 19. CCIP enables seamless data transfers between Ethereum Virtual Machine (EVM) and Solana Virtual Machine (SVM) environments, offering cost-effective scalability.

“Expanding to Solana unlocks a high-speed, high-capacity environment where Maple’s products can reach a broader class of users — from institutions to advanced DeFi participants,” said CEO Sid Powell.

Rising Competition On Solana

Solana’s decentralized finance landscape is booming. Its total value locked (TVL) has soared from $1.4 billion in December 2023 to $8.4 billion today — a 500% increase. This growth opens the door for platforms like Maple to gain ground.

With $1.3 billion in current TVL, Maple will now face competition from Solana-native lending protocols such as Save, margin.fi, Rain.fi, and Port Finance. While Ethereum remains dominant with $61.4 billion in on-chain assets, the race among blockchains for DeFi dominance is intensifying.

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The post Maple Finance Expands To Solana! appeared first on Coin Engineer.

The company agreed to the license revocation and committed to discontinuing unsafe practices. DFPI reported that the company violated the California Financing Law (CFL). BlockFi gave loans without considering borrowers’ repayment capacity and charged interest before the loans were disbursed. Additionally, the company failed to provide credit counseling and did not meet credit reporting obligations.

DFPI Commissioner Clothilde Hewlett said, “While we encourage innovation in our financial markets, companies must comply with laws and protect consumers to continue operating.”

The bankrupt company will pay a $175,000 fine imposed by California, but the payment has been postponed to prioritize consumer repayments. In May 2024, the company shut down its web platform, and customers can no longer access it.

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The bankruptcy process began after Sam Bankman-Fried‘s FTX exchange collapsed. The company had significant exposure to FTX and its affiliates. BlockFi filed for bankruptcy due to a $400 million credit line with FTX US. Additionally, FTX was one of BlockFi‘s largest unsecured creditors.

By 2024, the company is estimated to owe up to $10 billion to more than 100,000 creditors.

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The post California Revokes Crypto Lending Company BlockFi’s License appeared first on Coin Engineer.

The protocol was originally launched in 2017 as ETHLend, using a peer-to-peer (P2P) lending model. In 2018, it rebranded to Aave and adopted a more efficient pool-based system. “Aave” means “ghost” in Finnish. 

Initially built on Ethereum, Aave now operates across multiple networks, including Polygon, Avalanche, Fantom, Arbitrum, and Optimism. 

One of Aave’s key features is its liquidity pools. Lenders deposit assets into pools, and borrowers can instantly draw credit from these pools. This pool-based system is faster and more efficient than the traditional one-to-one lending model. 

Founder & Team 

• Founder / CEO: Stani Kulechov 
• Studied law at the University of Helsinki and developed an interest in Ethereum and blockchain technology. 
• Developed ETHLend in 2017 and launched the LEND token. 
• Transitioned ETHLend to Aave in 2020, migrating LEND tokens to AAVE. 

Investors & Partners 

Aave launched its LEND tokens through a $16.2 million ICO. 

Key investors and partners: 

• ParaFi Capital 
• Blockchain Capital 
• Three Arrows Capital 
• Standard Crypto 

These partnerships helped Aave establish a strong reputation in the DeFi ecosystem. 

Project Vision & Purpose 

Aave aims to create fast, secure, and permissionless crypto lending and borrowing systems. Its goal is to make it easy for users to borrow different crypto assets by posting collateral, earn interest, and accelerate mainstream adoption of decentralized finance. 

How Aave Works 

• Lending Pools: Users deposit assets into pools, and borrowers can access funds instantly. 
• aTokens: When users deposit assets, they receive aTokens (e.g., deposit ETH → receive aETH), which automatically earn interest. 
• Interest Rates: Dynamic based on pool demand; rates increase with high demand and decrease to attract borrowers. 
• Overcollateralization: Borrowers deposit more than the borrowed amount. If collateral drops, automatic liquidation occurs. 
• Flash Loans: Instant, uncollateralized loans within a single block for arbitrage, debt refinancing, or DeFi strategies. 

Governance 

• AAVE Token: Used for protocol governance and staking. 
• Token holders can vote on protocol changes and new features. 
• stkAAVE holders are also eligible to participate. 
• Stake tokens in the Safety Module to earn passive income. 
• Aave Governance V3 enables multi-chain governance at low network costs. 

Asset Representation (Aave V3) 

• aToken: Represents deposited assets and accrued interest. 
• StableDebtToken: Represents fixed-rate debt positions. 
• VariableDebtToken: Represents variable-rate debt positions. 

Roadmap 

2017: ETHLend ICO & LEND token launch
2018: ETHLend rebrands to Aave
2020: LEND → AAVE token migration 

Aave 2030 Plans:
Year 1: 

• New Visual Identity 
• Aave V4 Prototype & Code Implementation 
• Integrate at least one innovative GHO facilitator 
• Support for one non-EVM chain 

Year 2–3: 

• Expand Aave Network 
• Cross-chain liquidity layer 
• Launch RWA (Real-World Asset) product 
• Add at least one additional non-EVM chain 
• Introduce at least one Aave Labs product to accelerate Aave/GHO growth 

Token Use Cases 

• Governance: Vote on protocol decisions. 
• Liquidity Pools: Earn returns by contributing AAVE to pools. 
• Staking: Contribute to protocol security and earn rewards. 
• Collateral: Use AAVE to borrow other assets. 
• Cross-Chain: Utilize AAVE across different blockchain networks. 

Token Details 

• Token Name: AAVE 
• Total Supply: 16M AAVE 
• Max Supply: Not specified 
• Circulating Supply: 15.23M AAVE 

Distribution: 

• Team & founders: 10–15% 
• Investors & partners: 15% 
• Liquidity & incentives: 70–75% 

Ecosystem 

• Built on Ethereum 
• Supports lending/borrowing of 17+ crypto assets 
• Offers opportunities via liquidity pools and flash loans 

Key Features 

• Decentralized and secure lending system 
• Automatic interest accrual via aTokens 
• Flash Loans for uncollateralized borrowing 
• Governance and staking for community participation 
• Overcollateralization to protect lenders 

Official Links 

• Website
• Twitter
• Discord

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