What Is Evmos?
Evmos is a community-driven EVM (Ethereum Virtual Machine) chain built with the Cosmos SDK, designed to serve as an entry point between the Ethereum and Cosmos ecosystems.
Background
Evmos began as Ethermint and evolved into Evmos after receiving community funding from the Cosmos Hub through Proposal 44. In 2021, Ethermint was stalling without a dedicated team. The group behind Evmos stepped in, recognizing the potential for a robust EVM stack on Cosmos that could attract the existing EVM community and highlight the benefits of Cosmos through cross-chain technologies. In 2022, Ethermint became the launchpad for Evmos, successfully accelerating the introduction of chains, applications, assets, and users into Cosmos. By February 1, 2023, the Evmos network had been running smoothly for 280 days, rapidly achieving milestones and attracting new chains to the Cosmos Network.
How It Works
Evmos focuses on aligning three key actors: validators, developers, and users. It incentivizes developers to build on Evmos and rewards users for using the applications. Evmos introduced the Rektdrop, the first joint airdrop for Cosmos and Ethereum, and the first Gasdrop. The Rektdrop aimed to reward and motivate users who are ready to explore new territories. Evmos also introduced the novel Revenue Module, a predecessor to mechanisms like Juno’s fee-sharing mechanism and Canto’s Contract-Secured Revenue, rewarding smart contract deployers and encouraging the growth of new applications and tools.
Key Takeaways
- Evmos is an Ethereum Virtual Machine (EVM) chain built with the Cosmos SDK, aiming to bridge the Ethereum and Cosmos ecosystems.
- Evmos evolved from Ethermint after receiving community funding from the Cosmos Hub through Proposal 44.
- The Evmos group stepped in when Ethermint was stalling, transforming it into a platform that could introduce new chains, applications, assets, and users into the Cosmos Network.
- Evmos aligns validators, developers, and users by incentivizing developers to build on Evmos and rewarding users for using the applications.
- Evmos introduced innovative features, such as the Rektdrop and the Revenue Module, to reward and motivate users and encourage the growth of new applications and tools.
