Evmos is a scalable, high-throughput Proof-of-Stake blockchain that is fully compatible and interoperable with Ethereum. It’s built using the Cosmos SDK which runs on top of the Tendermint Core consensus engine.
Evmos allows for running vanilla Ethereum as a Cosmos application-specific blockchain. This allows developers to have all the desired features of Ethereum, while at the same time, benefit from Tendermint’s PoS implementation. Also, because it is built on top of the Cosmos SDK, it will be able to exchange value with the rest of the Cosmos Ecosystem through the Inter Blockchain Communication Protocol (IBC).
In December 2021, Evmos announced a partnership with Celestia to build CEvmos, Celestia-EVM on Cosmos. Celestia is a layer 1 built to handle data availability and settlement but not execution, allowing devs to utilize their own execution environment and using Celestia’s data availability and security.
CEVMos utilizes Celestia and EVMos to create a modular stack: EVMos for settlement, Celestia for data availability.
On March 2, 2022, Evmos is launching its mainnet. The project starts off with a big genesis airdrop. Evmos announced their genesis airdrop as the ‘Rektdrop’, honoring those who supported Cosmos or got rekt in the EVM ecosystem. The snapshot for the airdrop was made on November 25, 2021.
Rektdrop eligibility is further described here.
Tharsis are the core developers of Evmos. The team has vast experience in distributed systems and blockchains.
EVMOS is not just a fee and staking token. It will be the first token on an EVM that drives governance outcomes for the EVM. But it also serves as a vehicle to determine future economic outcomes that align the three main actors (Developers, Users, and Validators).
Token holders are responsible for steering the DAO and dictating the fate of all on-chain assets that travel through the Evmos port-of-entry to Cosmos. The network is targeting the vast majority of tokens to be owned and controlled by everyone other than the team. Here’s what we expect it will be used for:
- Paying developers and network operators for their services via a built-in shared fee revenue model (the dApp Store)
- Voting on protocol upgrades
- Registering tokens on the ERC20 module for EVM-IBC integration with ERC20s
- Allotting usage incentives for applications on Evmos
- Enabling precompiles for useful, high priority functionality
There was no sale for premined Evmos tokens.
Total supply: 1B $EVMOS
- 50% ‘Strategic’ (To DAO initially composed of the dev team and Cosmos community members, used for grants, supporting validators and active participants in the network, partnerships through fundraising)
- 40% Airdrop
- 10% DAO treasury (Governance)
Initial supply: 200M $EVMOS
- Strategic reserve: 100M
- Airdrop: 80M
- DAO Treasury: 20M
In the first year 300M more tokens will be released, as seen in the chart, making it highly inflationary.
Newly distributed tokens will be distributed on a per-block basis:
- Staking rewards: 40%
- Team vesting: 25%
- Usage incentives: 25%
- Community pool: 10%
Evmos is an application-agnostic chain that will be interoperable with the Ethereum Mainnet, EVM-compatible environments, and other BFT chains via IBC, making it easy for users and developers to easily move value between chains.
To learn more about the Evmos project visit their official website.
If you have further questions, drop us a message to email@example.com. You can also join our chat in telegram, there is an active discussion of all current updates, as well as round-the-clock support from our managers.
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