Rattibha

Evmos will be launching in 2 days, on February 28th.
It seems to be one of the most hyped projects this year and will start off with a big genesis airdrop, which many are sleeping on.
Let’s see what the hype around @EvmosOrg $EVMOS is all about 🧵👇

TLDR
- Evmos is the first EVM-compatible, IBC-enabled layer 1 plugging into the cosmos hub, bridging EVM assets and dApps through Evmos into the Cosmos Ecosystem.
- Mainnet feb 28th
- Big airdrop
- Many partnerships

1/ What is Evmos
Evmos is short for EVM (Ethereum Virtual Machine) on Cosmos. It is a scalable, high-throughput Proof of Stake blockchain that is fully compatible and interoperable with Ethereum and EVM-compatible chains like Fantom and AVAX.

2/
It is built using the @cosmos SDK, which runs on top of Tendermint Core consensus engine and allows developers to have all the desired features of Ethereum, while being able to exchange value with the rest of the Cosmos Ecosystem through IBC.

3/
So basically, Evmos allows EVM-based tokens, NFTs and dApps to be bridged to Cosmos.
Before we look more into Evmos, let’s take a step back. What even is EVM, Cosmos and IBC?

4/ EVM (Ethereum Virtual Machine) TLDR
A virtual machine that developers can use to create dApps that function on Ethereum or other EVM-based blockchains. It is the runtime environment for the smart contracts.

5/ @cosmos TLDR
Cosmos is an ecosystem of independent blockchains, apps and services, interconnected with IBC. It uses a PoS consensus mechanism called Tendermint, which is very fast and secure.
Cosmos SDK allows developers to easily create custom chains from scratch that...

6/
...can natively interoperate with other blockchains.
$ATOM is the native token for Cosmos used for staking, governance and transaction fees.
Over 250 projects are built on the Cosmos ecosystem with notable ones being $ATOM, $BNB, $LUNA, $CRO, $OSMO, $SCRT and $JUNO.

7/ IBC (Inter Blockchain Communication Protocol) TLDR
The @cosmosibc makes it possible for blockchains in the ecosystem to connect so that they can transfer tokens and other data between each other frictionlessly and seamlessly. It creates interoperability.

8/ Back to Evmos
Like explained, Evmos doesn’t just connect Eth and Cosmos, but all EVM chains (eg $AVAX, $FTM, $ONE) to the IBC ecosystem (eg $OSMO, $JUNO, $LUNA).
This is big because as we have seen, everytime EVM enters an ecosystem it attracts tons of devs and liquidity.

9/
EVM based applications will look to integrate in Evmos to leverage it’s fast transactions, low fees and IBC userbase. There are already a lot of partnerships and projects launching on Evmos, which we’ll discuss later on.

10/ CEvmos
In December, Evmos announced a partnership with @CelestiaOrg to built CEvmos, Celestia-EVM on Cosmos. Celestia will be one of the most interesting launches this year, which is why it’ll get its own thread soon. It is a layer 1 built to handle data vailability and...

11/
...settlement but not execution, allowing devs to utilize their own execution environment and using Celestias data vailability and security.
CEVMos utilizes Celestia and EVMos to create a modular stack: EVMos for settlement, Celestia for data availability.

12/ Evmos tokenomics
$EVMOS will be the native token, which will be used for:
- Staking
- Governance
- Transaction fees
There has been no sale for premined Evmos tokens. Let’s look at the token distribution. 👇

13/
Total supply: 1B $EVMOS
- 50% ‘Strategic’ (To DAO initially composed of 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)

14/
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.

15/
Newly distributed tokens will be distributed on a per-block basis:
- Staking rewards: 40%
- Team vesting: 25%
- Usage incentives: 25%
- Community pool: 10%

16/ Airdrop
Evmos announced their genesis aidrop as the ‘Rektdrop’, honoring those who supported Comos, or got rekt in the EVM ecosystem. (If you spent gas, you got rekt by fees, so you’re likely to be eligible 👀)

17/
Recipients will be able to claim their tokens when network goes live feb 28th. The snapshot for the airdrop was made Nov 25th 2021.
Rektdrop eligibility is further described here evmos.blog

evmos.blog/the-evmos-rekt…

18/ Team
@TharsisHQ are the core developers of @EvmosOrg. The team has vast experience in distributed systems and blockchains with team members like @fekunze @akash_khosla, @liamdig, @evmchan @ronenkirsh and more.

19/ Projects launching on Evmos
- @AaveAave Lending and borrowing
- @fraxfinance Algorithmic stablecoin
- @KinesisLabs Stablecoin ecosystem
- @diffusion_fi AMM
- @Exswapdotxyz AMM
- @CronusFinance AMM
- @spacefi_io DEX
- @coslend Money market
- @AngelDAOorg Liquid staking

20/ Partnerships
Evmos also announced many infrastructure partnerships such as:
- @CelestiaOrg
- @Figment_io
- @POKTnetwork
- @UMAprotocol
- @Covalent_HQ
- @CoinbaseCloud
- @BlockdaemonHQ
- @KYVENetwork

21/ Grants program
Last week the Evmos Grants Program was announced. This will incentivize individuals and organizations to explore and develop on Evmos.
medium.com

medium.com/evmos/announci…