Evmos: the blockchain that blends Ethereum with Cosmos

Evmos, stemming from an evolution from Ethermint, emerges as an innovative project within Cosmos. This EVM chain, initially designed as a bridge between Ethereum and Cosmos, has quickly evolved to become a standalone entity. In a context where Ethermint required revitalization, Proposal 44 marked a crucial turning point, propelling the project towards new horizons under the name Evmos.

The Genesis of Evmos

🔹 Ethermint: A Link Between Ethereum and Cosmos

➮ Ethermint, originally envisioned as a community-driven EVM chain integrated into the Cosmos SDK, aimed to serve as a bridge between the Ethereum and Cosmos ecosystems.

➮ By 2021, Ethermint had stagnated, facing challenges due to the lack of a dedicated team committed to its success. The needs of this ecosystem became apparent, requiring a revitalization and a clear vision for its future.

🔹 Proposal 44

In response to this context, Proposal 44 was crafted. Titled “Ethermint’s Original Text,” this plan proposed a detailed roadmap to revive Ethermint, with a particular focus on milestone-based community funding, showcasing an optimistic determination.

🔹 A Successful Revival in 2023?

The community responded positively to the proposal, and funding secured from the Cosmos Hub paved the way for a successful revival in 2023. The Evmos chain emerged, quickly surpassing the milestones laid out in the original text and welcoming new chains into the Cosmos network.

The Mission of Evmos

🔹 Objective

Evmos’s primary goal is to create a stable and dynamic environment that welcomes the millions of developers, users, and communities shaping the future of blockchain. They also aim to establish the first EVM chain on Cosmos.

🔹 Evmos and Siloed Blockchains

Evmos addresses the challenge of siloed blockchains with a fresh approach. Instead of maintaining and updating multiple instances of the same smart contracts on different chains, the solution lies in deploying applications once that can be used across any chain.

🔹 Evmos: “Cross-Chain” or “Multichain”?

Evmos’s philosophy rejects the traditional multichain approach in favor of a more efficient cross-chain approach. This approach allows applications to be non-siloed, thus providing greater accessibility and functionality across different chains. Evmos encourages the construction of independent, interoperable, and flexible dApps.

🔹 Use of Inter-Blockchain Communication (IBC)

Evmos realizes its vision by leveraging the Inter-Blockchain Communication (IBC) protocol. This bridgeless approach ensures cross-chain interactions without the need for intermediary bridges, providing users with a seamless and secure experience.

Architecture of Evmos

🔹 What is Evmos exactly?

Simply put, Evmos is a Proof of Stake blockchain built with the Cosmos SDK and based on the Tendermint consensus.

🔹 Intersection between Ethereum and Cosmos SDK

Evmos is built on an intersection between the Ethereum Virtual Machine (EVM) and modules from the Cosmos SDK. This fusion creates a unique architecture that leverages the strengths of each technology. Evmos goes beyond interoperability with IBC by integrating the Ethereum Virtual Machine (EVM) into the Cosmos Network. This collaboration enables blockchains, even those not necessarily using Solidity, to interact directly with Evmos without encountering difficulties, thus opening new possibilities in the ecosystem. Evmos is clearly THE EVM chain in the Cosmos ecosystem.

🔹 What are the benefits of this approach?

By combining the permissionless scalability and developer-friendliness of blockchain via the EVM (and thus the Solidity language) with the flexibility provided by Cosmos SDK modules, Evmos provides a favorable environment for developers. Any developer working in an EVM environment can directly come and develop on Evmos using Solidity. Moreover, all dApps deployed on EVM chains can be “copy-pasted” onto Evmos. This streamlines the development of this blockchain.

🔹 Modular approach

Evmos is moving towards a more modular architecture for decentralized applications. The simultaneous integration of the EVM and Cosmos SDK modules generates synergies, creating an ecosystem where applications can interact in a decentralized manner while having the ability to dynamically adapt.

Integration of IBC: The Cross-Chain Standard

🔹 IBC as the Standard Protocol for Evmos

Evmos has chosen to adopt IBC as the standard protocol. This decision grants Evmos cross-chain capabilities, paving the way for interoperability with other blockchains. IBC brings several essential aspects to Evmos, as it is:

• Trustless: relying on a lightweight relay model

• Bridgeless: allowing each chain implementing IBC to communicate directly without requiring intermediary entities.

🔹 Third-Party Solutions

In addition to direct implementations, third-party solutions such as Axelar contribute to maximizing interoperability by complementing IBC’s trustless approach. This approach gives Evmos the potential to be one of the most interconnected blockchains to date.

A New Paradigm: EVM Extensions

🔹 EVM Extensions

➮ EVM Extensions are like special tools added to the Ethereum Virtual Machine’s toolbox on Evmos. By using specific addresses, these extensions expand what the machine can do, opening up new possibilities for smart contract execution.

➮ EVM Extensions give developers the freedom to create their own rules, to interact their smart contracts with others, and to integrate with appchains in the Cosmos ecosystem.

🔹 Extensions and Cosmos

These Extensions are not limited to EVM alone. They serve as a gateway for interaction with other modules of the Cosmos SDK. This extended integration promotes the modularity and connectivity of dApps.

Evmos SDK: Tool for the Future

🔹 Essential Role of the Evmos SDK

The Evmos SDK occupies a central role by providing the necessary tools for building cross-chain applications. It plays an essential role in offering developers the flexibility needed to construct platforms tailored to their requirements. It should be seen as an additional building block added to the Cosmos SDK to further enhance Evmos’ performance.

🔹 Customization of Chains and Features

The Evmos SDK offers developers the ability to customize chains and features according to their specific needs. This modularity enables the construction of chains specific to particular use cases while remaining interoperable with other Cosmos and Ethermint chains.

🔹 Facilitation of Specific Application Development with a Command-Line Interface (CLI)

The Command-Line Interface (CLI) simplifies the development process by allowing developers to create specific applications with ease.

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ℹ️ Information: For those wondering, “What is the CLI?” We will try to answer that here: The Evmos CLI (Command Line Interface), also known as “evmosd,” is an all-in-one command-line tool. It enables launching an Evmos node, managing wallets, and interacting with the Evmos network to perform queries and transactions. In summary, the Evmos CLI is a convenient way to operate the Evmos blockchain directly from your computer’s command line.

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Evmos dApp

The launch of the Evmos app marks a major milestone in the ecosystem. It’s an all-in-one platform that provides access to:

• dApp store: It’s a bit like a PlayStore for Android or an AppStore for IOS. Developers can showcase their decentralized applications on it, and users have simplified access to a variety of Web3 applications.

• Evmos Portfolio: Here, you’ll find all the necessary information about your portfolio, the tokens you own, their quantity, your dollar amount…

• Evmos Staking: This is where you can stake your $EVMOS tokens and claim your rewards.

• Evmos Governance: This is the central location of the Evmos DAO. Here, you’ll find all the project evolution proposals, and you can vote.

➮ We don’t know about you, but we think it’s really cool to have a dApp Store where you can find the majority of things to do on Evmos (not to mention the Evmos dApp that really brings all the features together in one place). We think it greatly enhances the user experience, and, having tried it, it’s super smooth, ergonomic, and easy to understand. We will let you go check it out for yourself : https://app.evmos.org

Tokenomics of EVMOS

🔹 Overview

The native crypto of @EvmosOrg is, unsurprisingly, the $EVMOS token. This new entry into the market, although recent, is garnering interest due to its unique positioning. However, its listing on centralized exchanges (CEX) is currently very inaccessible.

🔹 Token Distribution

The distribution of the first 200 million $EVMOS tokens stands out with an inclusive approach. A strategic portion is dedicated to a DAO owned by the Evmos Foundation, with a vision of transparency and expansion in future strategic decisions.

Following its philosophy, EVMOS decides not to hold a public sale, preferring to reward loyal users of the Cosmos Network through airdrops. This approach aims to recognize the existing community and promote fair token distribution.

🔹 Inflation Strategy to Reach One Billion $EVMOS Tokens

The planned inflation for the EVMOS token will initially be high, adjusting over time until the goal of one billion tokens in circulation is reached.

🔹 Tokenomics

➮ As usual, We will provide you with a pie chart showing the distribution of $EVMOS tokens.

➮ We will also give you a link to CryptoRank (which is an app providing extensive information on tokenomics and focusing on vesting, private investor statistics, etc.). 🗞️ https://cryptorank.io/price/evmos

In early 2024, close to 60% of the tokens are in circulation.