Reflecting on our Journey: Evmos’ 2023 Year in Review
As we bid farewell to the challenges of 2023 and welcome the promises of 2024, we find ourselves reflecting on a year that tested the resilience of both the blockchain industry and the global economy. Despite the hurdles, Evmos stood strong, continuing to build, deliver, and expand our ecosystem. Let’s take a moment to revisit the milestones and innovations that shaped our journey this year.
Growing the Ecosystem
In 2023 Evmos experienced significant growth. We’ve established a robust ecosystem, marked by significant strides such as the native USDC integration via Noble, the Wormhole Bridge, and enabling essential DeFi primitives such as the community-owned Forge (Decentralized Exchange), Tashi (Lending), Pyth (Oracle) and UniDex (Perpetual Markets), all while enhancing liquidity and user engagement. These applications will be the foundation of the new activity we will see on Evmos in the next year. This growth will be further bolstered by unlocking Osmosis and Stride Liquid Staking Asset liquidity for Evmos dApps via our Outposts, effectively increasing Total Reachable Liquidity (TRL) available to developers and users.
Prioritizing UX
Addressing user and developer challenges, our focus in 2023 centered on Onboarding, Usability, and Discoverability. To onboard new users we launched Evmos Copilot — a step-by-step guide that walks users through account setup and interaction with the ecosystem in under 5 minutes. The Evmos App underwent significant enhancements, including features like payment requests and a more intuitive UI, making transactions smoother for our users. The introduction of fee subscriptions marked a milestone, allowing users to pay transaction fees with unclaimed staking rewards. We further prioritized user experience with initiatives like single-token representation, simplifying the handling of token variants, and are on the verge of introducing native tokens as ERC-20, eliminating the need for wrapped versions.
In 2024, we’re gearing up to revolutionize the finance market with our groundbreaking product, which we have worked hard on throughout 2023 — the launch of the dApp Store. The dApp Store vision at Evmos is focused on a completely new paradigm for discovering, interacting, and launching applications for the world finance market. We are initiating our journey to establish a user-centric distribution channel far more decentralized than web2 platforms that control the market today and take most of the revenue away from developers (Apple’s App Store and Google Play). With a focus on top-tier user-facing products, our vision involves creating a fair and decentralized ecosystem where both creators and users benefit.
Strengthening The Foundations
We have reached significant milestones in the core development of the network that will bootstrap our growth in 2024. This year, we introduced EVM extensions, which, as the name implies, extend the functionality of EVM. With EVM extensions, developers and users can now access new features, including IBC transfers to Cosmos chains, Vesting management with clawback accounts, staking, and more. Furthermore, EVM extensions will become instrumental in abstracting Cosmos transaction format, streamlining the onboarding process for web3 developers into the Cosmos ecosystem. Our team has been at the forefront of pushing interoperability to new heights, building Outposts — contracts enabling interaction with other Cosmos chains from Evmos. The first outposts will go live with the launch of the dApp store — already in January! But that’s not all — this year we started to research ways to optimize our Token Economics, together with the team of renowned mathematicians and economists from POL Finance. This, with the recently approved new burn mechanism, shall strengthen our network, further solidifying us as a foundation for a fair financial system.
Looking ahead to 2024
As we step into 2024, Evmos is poised to leapfrog our competition with a new architecture and redesign of our technology and platform. We are beyond excited to continue our long-term vision: building and enabling the next century’s financial applications and infrastructure by leveraging the latest, most secure, and scalable technology: blockchain.
We are excited about the opportunities that lie ahead and are committed to delivering excellence in every aspect of our work. The challenges and learnings of 2023 have been stepping stones, and we are now more prepared than ever to embrace a future filled with growth, innovation, and success. Exciting developments await in 2024!
To our community, users, developers, and validators, we say thank you. Your encouragement, constant support, and trust fuel our growth and innovation. We recognize the efforts not left unnoticed and appreciate you being part of our journey.
We wish you all a prosperous and happy New Year 2024!
PS: If your New Year’s resolution includes pushing your limits and seeking new challenges, consider joining us in 2024. Evmos is hiring, and we invite those who share our passion for growth and innovation to be a part of our dynamic team.
