What ecosystem projects are available on Evmos after the mainnet officially launched?
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What ecosystem projects are available on Evmos after the mainnet officially launched?
As an EVM network within the Cosmos ecosystem, Evmos has become one of the most closely watched projects in the industry recently.
Navigating Web3 tides with focused insightsCompilation: Hu Tao
As an EVM network within the Cosmos ecosystem, Evmos has recently become one of the most watched projects. It will achieve interoperability via IBC with Ethereum mainnet, EVM-compatible environments, and other BFT chains, enabling users and developers to seamlessly interact across chains.
Evmos aims to become the central hub for EVM in Cosmos, simplifying the deployment and communication of smart contracts within the Cosmos ecosystem.
After several delays, Evmos officially launched its mainnet today and initiated its airdrop. Currently, multiple well-known crypto projects have announced support for the network, and native applications have already emerged in areas such as DEXs and lending. It is foreseeable that many popular projects will emerge from this ecosystem.
To help readers better understand the current state of Evmos' ecosystem development, ChainCatcher provides a comprehensive overview and introduction to the existing Evmos ecosystem projects in this article.
I. Native Applications:
Kinesis
Kinesis is a stablecoin trading protocol built on Evmos that allows users to swap stablecoins with minimal fees and slippage. Kinesis not only plans to become the go-to destination for stablecoin trading on Cosmos but also actively promote the integration of stablecoins into the Cosmos ecosystem.
Kinesis Labs intends to actively collaborate with popular stablecoin protocols such as Abracadabra, Alchemix, Fei, and Frax, participating in governance to bring all EVM-based stablecoins into Cosmos. The project will also work closely with stablecoin issuers to ensure sufficient liquidity.
Official Twitter: https://twitter.com/KinesisLabs
Cronus Finance
Cronus Finance is a fully permissionless and composable AMM DEX built on Evmos, set to launch shortly after the Evmos mainnet goes live. Most of its tokens will be distributed through airdrops.
Official Twitter: https://twitter.com/cronusfinance
Exswap
Exswap is a Uniswap v2 fork launched on Evmos, planning to go live shortly after the Evmos mainnet launch. It will be a fair-launch, community-centric project. Governance token EX is scheduled to be issued within days of launch, with the majority of token supply allocated to the community via airdrops, LP incentives, and farms—45% to liquidity providers, 20% for multiple airdrops, and no private sale. The project also plans to introduce staking pools, lending, and a launchpad feature.
Official Twitter: https://twitter.com/Exswapdotxyz
FantasticSwap
FantasticSwap is an AMM DEX based on Evmos. The project recently announced it will launch an IDO, aiming to raise $100,000 by selling its governance token FANTA, with no private sale. 10% of tokens are allocated for development funding, and 90% are designated for LP mining.
Official Twitter: https://twitter.com/Fantastic_Swap
Coslend
Coslend is a lending protocol modeled after Compound, serving as a money market within the Evmos ecosystem. It aims to build a secure, open, and transparent decentralized financial money market, allowing users to supply and borrow assets while earning or paying interest in a fully permissionless and decentralized manner.
Official Website: https://coslend.com/
Diffusion
Diffusion is a Uniswap v2 fork on Evmos, expected to launch its token DIFF and conduct an airdrop around mid-March. Maximum supply is approximately 320 million tokens, with 25 million allocated for airdrops. Eligibility includes Uniswap users who held over 500 UNI or accumulated more than 1 ETH in gas fees before December 31 last year, OSMO stakers, Evmos stakers, and Evmos LPs on Osmosis.
Official Website: https://diffusion.fi/
EvmOS Punks
Punks on the EvmOS chain built using the Cosmos SDK. Minting is scheduled to open on February 28, with governance token EVMP to be issued on March 10. This token serves as the foundational unit for the future of Punks, enabling voting within Punk DAO to determine treasury fund usage or guide project development.
Official Twitter: https://twitter.com/EvmOSPunks
Expanding space
The first NFT marketplace on Evmos, where users can create, buy, and sell NFTs. The platform is currently developing an auction system and a queuing mechanism for initial NFT collection sales. A token launch and potential airdrop may follow in the future.
Official Twitter: https://twitter.com/expanding_space
EVMOS Shiba
EVMOS Shiba is a community-driven meme token bringing the enthusiasm and cuteness of Shiba to EVMOS.
Official Twitter: https://twitter.com/EvmosShiba
II. Announced Integrations
Frax
Frax is the first partially algorithmic stablecoin protocol. Open-source, permissionless, and fully on-chain, Frax is currently deployed on Ethereum and other blockchains. The ultimate goal of the Frax protocol is to provide a highly scalable, decentralized algorithmic currency as an alternative to fixed-supply digital assets like BTC.
In mid-February, Frax Finance announced the deployment of the FRAX stablecoin on Evmos. After deployment, developers and end users will be able to utilize FRAX when building and using DeFi protocols on Evmos. Users will also be able to send FRAX and FXS (Frax’s value accrual and governance token) throughout the entire Cosmos ecosystem via IBC, enabling interactions with DeFi protocols on other Cosmos-based chains.
Aave v3
In early February, Evmos proposed deploying Aave v3 on the Evmos blockchain to expand lending capabilities for Evmos and the broader Cosmos ecosystem. Evmos will also enable cross-chain applications to leverage AAVE’s liquidity while deploying to other Cosmos chains like Terra. The proposal has been approved by the Aave community vote.
dForce
In early March, DeFi protocol dForce announced its full suite of DeFi products will soon launch on Evmos, the Cosmos EVM Hub, including its lending protocol, decentralized stablecoin USX, and cross-chain bridge dForce Bridge.
SpaceFi
SpaceFi is a community-driven DEX featuring Farm, NFT, Starter, and DAO functionalities. It previously launched Testnet 1.0 on the Celo public chain nearly a month ago. In late February, the project announced it would launch Testnet 2.0 on both Evmos and Celo.
Thorus
Thorus is a multi-chain DeFi platform built on Avalanche and Moonbeam. With a current total TVL of $7.3 million, it recently announced integration with Evmos.
III. Infrastructure Projects
Nomad & Connext
Nomad is a novel interoperability protocol designed to reduce costs and improve security in cross-chain messaging. Unlike validator-based bridges, Nomad does not rely on numerous external parties to validate cross-chain communications. Instead, it uses an optimistic mechanism allowing users to securely send messages and bridge assets, with anyone able to detect and report fraud to protect the system. The primary trade-off is the introduction of a dispute window to resolve fraud proofs.
Connext’s solution enables fast and low-cost transfer of small to large amounts of value across chains. Designed for high-frequency transfers, it operates by leveraging liquidity pools provided by routers on sending and receiving chains, avoiding interaction with Ethereum L1 when moving between L2s or other systems, and introducing no new trust assumptions.
In January this year, Evmos announced that both Nomad and Connext will deploy their bridging solutions on Evmos. With Nomad and Connext, institutions and end users will be able to send value and invoke data between Ethereum and the Evmos ecosystem. This will make ERC-20 tokens from Ethereum and other EVM chains available on Evmos, and subsequently across the entire Cosmos ecosystem via IBC.
Celer Network
Celer Network’s cBridge is one of the leading multi-chain bridges in DeFi, with over $400 million in total value locked. In early March, the project announced cBridge will be deployed on the Evmos mainnet, enabling anyone to connect assets like USDC and USDT to Evmos and the wider Cosmos ecosystem.
UMA
UMA is an optimistic oracle that uses economic security to safeguard markets. Unlike mechanically constrained price-feed oracles, optimistic oracles can serve arbitrary data on-chain. UMA’s flexible oracle provides data for use cases such as cross-chain bridges, insurance, custom derivatives, and prediction markets.
In January this year, Evmos stated that UMA will provide Evmos developers with a decentralized and battle-tested optimistic oracle, enabling them to build a range of DeFi applications using UMA’s optimistic oracle.
Pocket Network
Pocket Network is an RPC relay protocol that incentivizes full node operators to provide accurate data and ample bandwidth to decentralized applications. Over 20 blockchains, including Ethereum, Polygon, Solana, and Harmony, utilize Pocket Network’s decentralized infrastructure.
In December 2021, Evmos announced a partnership with Pocket Network to provide essential decentralized node infrastructure for Evmos developers, enabling them to deploy their dApps on the first EVM-compatible Cosmos blockchain.
Covalent
Covalent is an industry-leading blockchain indexer that allows developers to access the most comprehensive blockchain data via its unified API. Developers uniquely benefit from being able to use rich, structured data across all supported blockchains with just a single API call, accelerating dApp development.
In December 2021, Evmos announced integration with Covalent, providing Evmos developers and end users with a unified API to access indexed data across multiple leading blockchains. This enables rapid and consistent access to indexed blockchain data for developing and deploying complex decentralized applications on the Evmos blockchain.
Blockdaemon
Blockdaemon connects enterprises to blockchains and is a globally leading blockchain infrastructure provider. Its clients include major exchanges, custodians, and financial institutions.
In December 2021, Evmos stated that Blockdaemon will provide reliable, secure, and high-availability (HA) RPC clusters and node infrastructure platforms for Evmos, enabling Evmos token holders to easily run their own validator nodes.
KYVE
KYVE is a next-generation protocol enabling data providers to standardize, verify, and permanently store data streams. By leveraging Arweave, the solution ensures scalability, immutability, and availability of these resources over time. Using Moonbeam smart contracts also makes KYVE EVM-compatible.
In late December 2021, KYVE began integrating Evmos into its decentralized blockchain data streaming network. KYVE will help reliably and accurately store blockchain data from the Evmos blockchain. The Evmos community will be able to leverage this data to build and deploy complex applications on the Evmos blockchain.
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