EverValue Announces Burn Vault Boost Upgrade to Its On-Chain Backing Mechanism
EverValue (EVA) has announced the launch of the Burn Vault Boost upgrade on February 6, enhancing its existing on-chain backing and burn mechanism. This new feature introduces an additional vault that operates alongside the original Burn Vault Core. Instead of distributing Bitcoin (BTC) backing uniformly across the entire token supply, the Boost applies it to a predefined subset of tokens. This change is designed to increase the sensitivity of the reference burn value to BTC deposits over time.
The Burn Vault Core continues to back the full circulating supply of EVA, while the Boost complements it by altering how backing is distributed. The upgrade is implemented via on-chain smart contracts, with all backing levels and reference values publicly verifiable. User participation is passive and requires no action beyond holding tokens. The mechanism has undergone a security audit by CertiK. EverValue is an on-chain protocol that integrates Bitcoin mining with a fixed-supply token model and transparent backing mechanics.
TheNewsCrypto02/05 15:05
