EVMOS, the Next Big Thing in the Cosmos.
The launch of EVMOS is happening soon. Initially scheduled for today, the team just recently announced a small delay, to ensure a smooth launch. The new timeline has its launch as Wednesday 6pm UTC, which will be Thursday morning at 5 am for me here in Australia. To compensate for this delay, the team have decided to increase the allocation to the airdrop.
An all new, EVM chain on a Cosmos SDK base. So, the chain should offer the speed and efficiency of a Cosmos style POS chain, with the smart contract functionality of an Ethereum Virtual Machine (EVM) backbone. The launch has been highly anticipated by the Cosmos community, with the project under development for years. A change of lead dev's, and a renewed focus by the Tharsis team have seen the project come back to life and progress now to launch.
Airdrop Incoming.
The airdrop for EVMOS is ambitious, and covers many across both the Cosmos and Ethereum ecosystem. Called the "REKTdrop", it is particularly aimed at ETH users that have been affected by GAS and Exploits on various protocols. I won't go into to much detail, having covered it in this post earlier in the year. Suffice to say, if you have been involved on Ethereum, Thorchain when it was exploited, or Cosmos eco-system, then it will definitely be worth checking on whether you qualify.
If you do qualify, there will likely be a process of actions to unlock portions of the airdrop. For example, voting in governance, staking to a validator and so on. My personal plan is to stake as much as possible, as soon as possible. Staking rewards will be high, and with a large number of projects already planned to launch on top of EVMOS, the chances are high that there will be many further airdrops to follow for EVMOS stakers. A bit like JUNO, or ATOM, EVMOS will become a key token to have staked to qualify for more airdrops. As we saw with NETA on the JUNO chain, these subsequent airdrops can be hugely valuable. With so many happening around the Cosmos, EVMOS is highly likely to become another airdrop hunters dream holding.
The place to go once claiming is live will be the evmos.me website, which will be the portal to claim your drop, and will evolve into a multi purpose dashboard for all things EVMOS. you can read more about Evmos.me in this post
So what is coming on EVMOS?
Here is just a small selection of the projects coming to EVMOS. There are plenty more, but this is a sample of what is to come.
AAVE
As an EVM, projects that currently run on other chains can easily be launched on EVMOS. There are projects that grow by making sure they launch their platform on all the newly launching EVM chains. When the AAVE community held a governance vote to decide if they would deploy their AAVE V3 on EVMOS, the result was a 99.56% yes. So, it would be fair to say that the AAVE community is keen for this launch. You can read all about it in this article from Cryptoslate
Diffusion
Diffusion is building an AMM on EVMOS, based on a fork of the Uniswap V2 platform. There will be an airdrop of their token, which you can read all about in their tokenomics blog post. It will be interesting to see how this develops, and with the chance of multiple AMM's being launched on EVMOS, along with other platforms around the Cosmos, the battle for TVL and attracting capital could become quite lucrative for liquidity providers.
FRAX
I personally don't know much about this project, and have never used it. It describes itself as:
The Frax Protocol introduced the world to the concept of a cryptocurrency being partially backed by collateral and partially stabilized algorithmically.
Quote from FRAX finance website
Metalancer
Metalancer is launching a Balancer V1 fork on EVMOS. I can't find links or much else about the project, but it appears on the list. I personally liked the Balancer model, with multi-coin pools and portfolio management options, until Gas fees drove me off Ethereum. Will be watching out for this one, although the lack of information means I will tread cautiously.
Coslend
In comparison, Coslend has been very active on twitter, and are launching "the first money market on EVMOS". In their announcement post they indicate that Coslend will be based on Compound. A borrowing and lending marketplace for Cosmos assets is a use case that is crying out to be tapped, and this launch is definitely one I'm interested to follow.
EXSWAP
Exswap is another fork of Uniswap V2, launching on EVMOS. Their native token, EX, will have an airdrop at some point, and will be the rewards token for LP's. You can read more about their launch and tokenomics in this blog post. It will be interesting to watch the competition between this project and Diffusion (mentioned above) as both are launching Uniswap V2 forks. Let the Liquidity wars begin.
There are more, that is just a selection of the projects launching on EVMOS. Needless to say the launch of EVMOS is highly anticipated, and early movers in some of these new protocols could be handsomely rewarded. It is also important to note that the level of risk is high, Rug's, scams and exploits may be around.
Mentions of any project in this post are not endorsements of the project. I don't know the teams or details and urge caution before committing capital into these projects. Having said that, getting involved early is likely to be rewarded with high APR's and subsequent airdrops down the track.
Not financial advice, do your own research.
So, as the community keenly waits a couple more days for the launch of EVMOS, one of the most highly anticipated projects in the Cosmos, here are some other Cosmos related posts for you to read while you wait:
Thanks for reading,
JK.