Evmos: The Accelerator of Cosmos Expansion
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Evmos: The Accelerator of Cosmos Expansion
Evmos will serve as the gateway for interoperability between Cosmos and Ethereum users, bringing these two ecosystems together to achieve shared success.
Navigating Web3 tides with focused insightsAuthor: AltcoinPsycho
Translated by: TechFlow Intern
Evmos, this week's most eye-catching "rising star," may already be on your radar—especially given the chance to receive an airdrop. This article explains why I am highly optimistic about Evmos’s future. Disclaimer: All views are for informational purposes only and do not constitute financial advice. DYOR.
Introduction
If successful, Evmos will serve as a gateway for value to flow from the Ethereum ecosystem into the Cosmos ecosystem. It represents a major step toward an interconnected future—by combining true interoperability between Ethereum and Cosmos ecosystems, it enables liquidity access across most networks.
As a decentralized proof-of-stake blockchain within the Cosmos ecosystem, Evmos is built on the Ethereum Virtual Machine (EVM), meaning it is fully compatible with the Ethereum network.
Similar to Polygon, AVAX, and Fantom, Evmos allows developers to deploy applications built for the Ethereum Virtual Machine (EVM). This enables developers to continue using familiar languages and tools to build projects faster in a new environment.
But Evmos is more than just a Cosmos-based EVM—it extends EVM functionality. By combining developers’ familiarity with the EVM and the seamless user experience of native cross-chain interoperability, Evmos unlocks entirely new use cases that wouldn’t be possible on any other chain!
For example, Evmos not only allows users to transfer assets between Ethereum, other EVM chains, and any IBC-enabled Cosmos chain, but will also enable cross-chain contract calls—allowing dApps on Evmos to interact with dApps in other ecosystems.
This future is within reach. Imagine getting an Aave loan using OSMO, or participating in a multi-chain stablecoin Curve pool such as DAI/UST/FRAX. While this may sound far-fetched today, Evmos makes it simple.
Evmos will become the entry point for interoperability between Cosmos and Ethereum users, uniting these two ecosystems for mutual success. Yet currently, there is no comparable level of interoperability or shared incentive mechanisms between them.
We might soon see many blue-chip tokens deploy on Cosmos right after Ethereum upgrades—and Evmos could act as the catalyst for lightning-fast expansion of the Cosmos ecosystem.
Airdrop
Like other Cosmos projects, Evmos follows the default tradition of the Cosmos network. This airdrop, dubbed the "Rektdrop," distributed tokens not only to users who previously staked on Cosmos Hub, but also to victims of rug pulls and users who spent significant gas fees on certain Ethereum projects.
Tokenomics
At launch, 200 million tokens were airdropped—40% of the initial supply (the Rektdrop). The remaining 60% is allocated to the community pool and strategic reserve, which will serve as accelerators for the Evmos ecosystem.
An additional 300 million tokens will be issued in the first year, meaning Evmo has high inflation initially. Inflation will decrease annually following an exponential decay schedule—similar to a half-life in physics.
After four years, token distribution will end, and thereafter token holders can vote on further distribution mechanisms or whether to impose a cap on total supply.
Like other Tendermint and Cosmos SDK chains, if you choose to stake your tokens, they will be locked for 21 days.
Cevmos
Cevmos (Evmos + Celestia) is, in short, building an optimal settlement layer for rollups on the EVM. Rollups won't have to compete with non-rollup transactions for gas, thereby reducing fees and improving scalability. This will bring greater value to Evmos.
TLDR
Many believe in the potential of the Cosmos ecosystem, yet critics question how Cosmos can attract builders and users from other ecosystems. If you think the solution lies in collaboratively incentivized ecosystem cooperation rather than competition, then Evmos might just be the answer.
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