GAINS Associates
Published in

GAINS Associates

Evrynet — Telegram AMA — August 26

On Thursday, August 26, we had the pleasure to welcome to our Telegram chat:

Korapat Arunanondchai, Project Lead.

We asked him questions about the development of Evrynet.

Some sentences have been slightly edited for readability but the meaning has been conserved.


Evrynet aims to be the CeDeFi financial platform for Southeast Asia. It will provide interoperable CeDeFi building blocks for other projects and developers to build decentralized financial applications on.

Evrynet will have a full-service operation with smart contracts at the heart of its network. It also simplifies third-party integrations by providing SDKs, APIs, and basic financial templates.

EvryNet’s intelligent financial service platform will enable low-cost micro-banking services, e.g.,micro-Letter of Guarantee(LG),micro-Bank Guarantee(BG), and micro-trade finance products, accessible investment portfolios, and exchange markets are essential to the growth of the region’s digital economy.

EVRY token holders use the token to vote for bookkeeping nodes, network parameter changes, and governance. Developers use the EVRY token to deploy and execute EvryNet smart contracts. Nodes use the EVRY token to stake for the right to validate EvryNet smart contracts.


Q — Ayeley from GAINS: Can you tell us more about yourself and the team? What’s the team’s background? Who are some of the core team members?

A — Pat from Evrynet: Given the scale of the vision, Evrynet has recruited a core team dedicated to delivering Evrynet’s vision.

We are also fortunate to have access to many talented resources who work within the founder’s other companies which all share the same vision of financial inclusivity, just in different financial domains, but we can share more on that in a later AMA!

With regards to the team, they came from a diverse set of backgrounds in investment, technology development, and operations especially in micro-finance platforms in SEA. All are experienced working with large institutions and financial services companies

Leading the development of the product are:

— Korapat (entrepreneur and ex-VC),
— Suvicha (head of innovation, solution, and enterprise architecture at major bank in Thailand),
— Chatchai (technical team management and blockchain solution architect at leading corporate and financial institutions)

On the business side we have:

— Soon (founded and worked at several micro-finance startups in Asia);
— Matana (ex-IB, strategy, and planning at a leading property developer);
— Karan (strategy and finance at several leading banks and private credit platforms);
— Athi (ex-VP of payment solution and business innovation at a major bank)

About Evrynet

Q — Ayeley from GAINS: What is Evrynet all about? What got the project started?

A — Pat from Evrynet: Thanks for the opportunity for us to share about Evrynet. Excited to be able to connect with the Gains community.

Evrynet originated as a passion project of the co-founders Chatchaval and Tridbodi

While focused on developing a layer 2 global remittance and payments network, they saw a need for an open-source platform to provide financial services and products catering for the unbanked/underbanked, and thus Evrynet — the Defi network for “Evryone” to build financial products and services on was created.

Q — Ayeley from GAINS: What’s Evrynet’s Vision?

A — Pat from Evrynet: Evrynet aims to be the CeDeFi financial platform for Southeast Asia. It will provide interoperable CeDeFi building blocks for other projects and developers to build decentralized financial applications on

Q — Ayeley from GAINS: So I can see in the whitepaper you talk about Evry.Finance. What is that?

A — Pat from Evrynet: This is the flagship DApp that we’ve developed as a use case for Evrynet

It aims to support institutional investors who want to participate in DeFi by providing features that would address a need of institutional investors

These features include a multi-sig wallet, compliance section/report, a combination of an order book and AMM/DMM, and providing a variety of liquidity pool products with different maturity and yields

Q — Telegram user 🥯🍕🥞😅 Danielito 😅🍟🌮🍔: Apart from the standard features they have, such as a blockchain explorer (EvryScan) and wallet (EvryWallet), I see that they are launching “EvryHub”, can you tell us about the key capabilities of this platform and what it allows users to do? With “EvryHub” you will be able to transfer tokens through different chains without any problems?

A — Pat from Evrynet: Yes. Evryhub will allow for cross-chain token transfer

Q — Telegram user Antonio González: Soon the project will launch the EvryNet 2.0 core on Testnet so could you explain to me the main features of this testnet and how with this release you will achieve the vision of EvryNet becoming the reference platform for developers?

A — Pat from Evrynet: We will be launching our main product for Evrynet, which is Evryhub. This will bring cross-chain capability between ERC-20, BEP-20, and Stellar native coin (XLM)

Q — Telegram user Godpelpa: Reading your page I could see that the network works with a system of nodes, developers, token holders, and reserve pools so could you explain to me each of the parts that make up the network? What function does the EVRY token have within all these parts of the network?

A — Pat from Evrynet: We plan on having a product and technology AMA in the following weeks so we’ll touch on this then.

Q — Telegram user Marian Merheb: I read that Evrynet will support cross-chain transactions between BSC, Ethereum, and Stellar, can you tell us more about this? Why did you decide to start with these three chains, especially Stellar that isn’t so popular? Will you add cross-chain support with other chains later on?

A — Pat from Evrynet: We feel that Stellar has a lot of potentials, but is limited by the services that support it. By providing additional liquidity pools to Stellar, we feel it could open up some interesting possibilities. ERC-20 and BEP-20 because they are the leading DeFi tokens in the market. We plan to add more in the near future.


Q — Ayeley from GAINS: Did you raise funds so far? If so, how did you handle them?

A — Pat from Evrynet: Yes, we have from our early backer round from leading institutions lead by Signum Capital in the USD 8 figure range

The funds are being used for the initial product development as well as other important business-related activities to ensure the project has a strong start

Q — Ayeley from GAINS: Who are some of the key Advisors & Backers of Evrynet?

A — Pat from Evrynet: Evrynet has a strong group of institutional backers both from traditional businesses and from crypto

Some of these companies include CP Group (TH), Hanwha Group (KR), 7Bank (JP), Unipresident (TW), UOB, Wanshiang/Hashkey, Du Capital, Signum Capital, Stellar, Kyber Networks, and Lightnet.

This support has been in many forms, for example, we jointly developed Evrynet with Kyber Network and Stellar and Signum Capital to lead our private investor round as mentioned above.

We have some very passionate advisors amongst them including Loi from Kyber, Jon from Signum Capital, David Mazieres from Stellar Development Foundation, and Professor Robert Townsend from MIT. We have a lot of enthusiastic supporters for our project!

Q — Twitter user @Nani_C2: Can you share some details about your seed investors? Also since we are secondary buyers how can you guarantee that they will not dump on us?

A — Pat from Evrynet: As mentioned, our private placement investors are a combination of institutions and family offices. The lead investor is Signum Capital

These investors believe in the long-term vision of our project and are committed to supporting us to execute the vision. Furthermore, there is also a built-in vesting period that would prevent them from just dumping the tokens

Competitive Advantage

Q — Ayeley from GAINS: The Evry.Finance project sounds very familiar in today’s DeFi space. What’s so different about Evry.Finance?

A — Pat from Evrynet: Thanks to Stellar’s involvement, we will have the first XLM paired liquidity pools in the market

Also, the AMM/DMM feature with order book will incorporate the ability to bridge real-world assets to DeFi to provide more long-term and stable yield products which institutional investors, as well as retail investors, can enjoy

Currently, we’re working with a few additional use cases which we’ll announce at a later date, but are equally as exciting!

Business Development

Q — Ayeley from GAINS: What’s coming up in Evrynet’s Product Roadmap that you’d like to highlight?

A — Pat from Evrynet: Evrynet 2.0 has been deployed into Testnet but we are waiting to complete the development of a critical product, Evryhub, before we launch that with the community. Mainnet is scheduled for early 2022. In Sep/Oct, we will launch EvryHub together with Evry.Finance supporting BSC. Users will be able to exchange, stake tokens through a variety of liquidity pools and earn reward tokens.

Q — Twitter user @Ibrahem24254134: Is your project a local project or a global project? Can anyone use your services from anywhere in the world? Are there any restrictions on using your service?

A — Pat from Evrynet: Evrynet is a global project. However, given the scale of our vision, we’re starting with the use cases in Southeast Asia as a focus. This is because we have acquired certain key licenses to operate and have strong backers in this region

Although we are focusing on institutions and assets in the region, investors from other regions will be able to participate in the liquidity pool and yield products as well

Q — Telegram user 🙋🏻‍♂️ Kevin | NEW HIGH 📊: What strategies does Evrynet plan to incorporate to achieve the longed-for dream of financial institutions starting to join Defi and the crypto space? Do you think the products you guys are going to develop will be enough to achieve this? What else is needed?

A — Pat from Evrynet: We see a few issues that are preventing institutional investors from participating in Defi. These are things like being able to convert fiat to stablecoin (large volumes are still difficult to execute), unstable yield, and short maturity of yield products. These are things Evry.Finance is addressing.

Q — Telegram user Sir DeFi 🤵🏻‍: I was really struck by the Static Gas Fee model that EvryNet will be integrating. How do you plan to lift it in a way that is sustainable over time and no matter how much the market goes up or down?

A — Pat from Evrynet: We will allow for future network votes to change this fee structure

Q — Twitter user @Reiyan_12: Banks have legacy infrastructures, but many of them have failed to offer affordable banking solutions for the unbanked. So how can they address those users whose lack of trust is a barrier to entering slightly less known worlds through automated smart contracts?

A — Pat from Evrynet: There are several ways we plan to address the needs of the unbanked

One of the main problems we see, having teams coming from backgrounds in microfinance in the SEA region, is that there already exist platforms that provide access to credit to the unbanked/underbanked population

The issue with these platforms in scaling is limited access to liquidity to fulfil the loan requests. Therefore, connecting liquidity in DeFi to this real need makes sense to us

At the same time, the savings rate is close to 0%. Individuals can earn higher yields through participating in this yield product which would provide a higher return, possibly between 10–15% per annum

So by working through these popular platforms, the unbanked population does not need to interact directly with smart contracts, but at the same time benefit from it in terms of borrowing.

Pat, thanks for coming into our community, and taking the time to answer our questions. Anything else you’d like to say? Where can we follow you to stay updated? — Ayeley Commodore-Mensah from GAINS Associates 🐋

We will capture questions that hasn’t been answered and create a medium post to answer them. We will post an updated post to address these questions through our Medium

Thanks everyone for the opportunity to share about Evrynet — Pat Arunanondchai from Evrynet

Join us now! Enjoy quality articles, daily curated news, insightful infographics, and enter a vibrant, fun, and knowledgeable community!

Website | Telegram ANN | Telegram Group | Discord | Twitter | YouTube



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
GAINS Associates

Join our community and participate in nascent crypto startups by hodling $GAINS tokens. JOIN US NOW! — &! 🚀🔥