EverValue announces Burn Vault Boost upgrade to its on-chain backing mechanism
In Brief
EverValue (EVA) has announced the launch of Burn Vault Boost on February 6. This update to its existing on-chain backing and burn framework is designed to modify how BTC backing is applied across a portion of the token supply.
EverValue (EVA) has announced the launch of Burn Vault Boost on February 6. This update to its existing on-chain backing and burn framework is designed to modify how BTC backing is applied across a portion of the token supply.
The Burn Vault Boost introduces an additional on-chain vault that operates alongside EverValue’s existing Burn Vault Core. Rather than distributing BTC backing uniformly across the entire token supply, the new mechanism applies backing to a defined subset of tokens, with the aim of increasing the sensitivity of the reference burn value to BTC deposits over time.
Background: Burn Vault framework
At the core of the EverValue protocol is a system of smart contracts referred to as the Burn Vault. These contracts hold wrapped Bitcoin (wBTC) and calculate a BTC-denominated reference burn value per token based on available backing and the number of tokens eligible for redemption. This value is visible on-chain and functions as a protocol-defined reference metric rather than a traded market price.
The original Burn Vault Core continues to back the full circulating supply of EVA. According to EverValue, the Core currently holds BTC reserves generated through the project’s operational activities, including Bitcoin mining, while the token supply itself remains fixed.
Introducing the Burn Vault Boost
The Burn Vault Boost operates as a separate vault that applies BTC backing to a smaller, predefined portion of the total token supply. By changing how backing is distributed within the protocol, the Boost alters the rate at which the reference burn value for that subset adjusts when BTC is added to the vault.
Operational characteristics
- The Burn Vault Boost is implemented entirely on-chain through smart contracts
- Backing levels, eligible token counts, and reference burn values are publicly verifiable
- Participation does not require user action beyond holding tokens
- The mechanism does not alter exchange pricing or guarantee market outcomes
The Burn Vault Boost has undergone a security audit conducted by CertiK, according to EverValue.
About EverValue
EverValue is an on-chain protocol that integrates Bitcoin mining operations with a fixed-supply token model and on-chain backing and burn mechanics. The protocol maintains a BTC-denominated reference burn framework designed to provide transparency into backing dynamics, with the Burn Vault Boost representing an additional configuration layer within this system.
More information is available at:
https://boost.evervaluecoin.com
Media contact
Flor Ayala
CEO
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
