Evmos (EVMOS)

Interoperability and Cross-Chain Liquidity

Evmos connects Ethereum and Cosmos ecosystems by enabling Ethereum smart contracts to run on Cosmos-based chains. This opens up liquidity between Ethereum and Cosmos networks, allowing assets and decentralized applications (dApps) to move and interact seamlessly across chains using the Inter-Blockchain Communication (IBC) protocol.

Developer Flexibility and Ecosystem Growth

Evmos supports developers by combining Ethereum tooling (like Solidity and MetaMask compatibility) with the Cosmos SDK framework. This allows developers to create scalable, interoperable blockchains and dApps that benefit from both ecosystems. Developers can fork Evmos to build custom EVM-compatible chains tailored to specific use cases.

Decentralized Applications and DeFi

Evmos enables deployment of Ethereum dApps on a faster, proof-of-stake blockchain with lower fees. This includes decentralized finance (DeFi) apps, NFT marketplaces (like Orbit), and stablecoin exchanges (like Kinesis). Users can trade, stake, and interact with dApps while enjoying interoperability with other Cosmos chains.

Token Utility and Governance

The native EVMOS token is used for paying transaction fees, staking to secure the network, and participating in governance decisions. It also incentivizes developers and users through rewards and usage incentives, supporting ecosystem growth and engagement.

Enhanced User Experience

Features like callbacks middleware simplify complex transactions into single steps, improving usability. Integration with wallets like Keplr and support for cross-chain swaps (e.g., with Osmosis) make it easier for users to manage assets and interact with multiple blockchains.

Infrastructure and Scalability

Evmos is built on Tendermint consensus and CometBFT, providing fast finality and high throughput. It supports RPC nodes and monitoring tools to handle large volumes of transactions and ensure network reliability.

In summary, Evmos serves as a bridge that unites Ethereum's rich dApp ecosystem with Cosmos' interoperability and scalability, enabling developers and users to benefit from both worlds in a seamless, efficient way.

Pros

• Evmos bridges Ethereum and Cosmos ecosystems, allowing developers to deploy Ethereum smart contracts (Solidity/Vyper) on Cosmos networks easily.
• It supports interoperability through the Inter-Blockchain Communication (IBC) protocol, enabling secure and fast token and data transfers across multiple blockchains.
• Built on Cosmos SDK and Tendermint Core, Evmos uses a Proof-of-Stake (PoS) consensus, offering energy efficiency, fast transaction speeds, and high throughput.
• Developers can leverage existing Ethereum tools and wallets like MetaMask, simplifying app development and user experience.
• Evmos enables horizontal scalability by connecting with other Cosmos-based blockchains, expanding the user base for decentralized applications (DApps).
• The project has community funding and backing from experienced teams, with ongoing development to improve features like EVM Extensions and dynamic IBC.
• Evmos supports cross-chain decentralized applications and has partnerships to bring decentralized oracle services to its ecosystem.

Cons

• The project experienced a botched launch with bugs, causing some community backlash and delays.
• Evmos has underperformed in price compared to the broader crypto market and similar smart contract platforms recently.
• Some users and developers express concerns about the benefits of EVM contracts on Cosmos compared to other technologies like WASM.
• The token incentive programs may boost short-term usage but might not guarantee sustainable long-term growth.
• There is a planned shift to focus more on Ethereum compatibility, which may reduce some Cosmos-specific functionalities and require users to migrate wallets.
• The governance and decision-making power can be concentrated, as some incentive programs are not fully community-owned.

Founders of Evmos

The founders of Evmos are Federico Kunze Küllmer, Akash Khosla, and Nic Z. They started the project initially conceptualized as Ethermint in 2016. Federico Kunze Küllmer leads the team and has been a full-time Cosmos contributor since 2017. Akash Khosla has a background in software engineering and co-founded Blockchain at Berkeley. Nic Z is also a co-founder involved in the development of Evmos.

Investors in Evmos

Evmos raised a total of $27 million in a seed funding round led by Polychain Capital. Other notable investors who participated include Galaxy Digital, Huobi Ventures, HashKey Capital, Coinbase Ventures, Circle Ventures, Asymmetric, and several Web3 angel investors. These investors support the development and growth of the Evmos ecosystem, which connects Ethereum and Cosmos blockchains.

Funding Details

• The funding round took place on November 2-3, 2022.
• The $27 million raised is aimed at accelerating the development of interoperable decentralized applications (dApps) on Evmos.
• Evmos was initially a community-funded project before this major seed round.

Additional Support

• Evmos has partnerships with infrastructure providers like Anchorage Digital for custody and staking services.
• Institutional capital access is enhanced through collaborations with Fireblocks, Gnosis Safe, Aegis Custody, and Anchorage Custody.

This strong backing from leading crypto investment firms and infrastructure partners helps Evmos build a robust platform for cross-chain blockchain applications.

Halal Compliance of Evmos

• Evmos itself is a blockchain platform built on evmOS and Cosmos SDK, designed for interoperability and decentralized applications.
• The HAQQ network, which is Shariah-compliant and uses evmOS technology, supports halal financial activities such as interest-free investments and halal trading.
• Evmos serves as the underlying technology for HAQQ, enabling smart contracts that can adhere to Islamic principles through HAQQ’s Shariah Oracle.
• However, there is no direct statement confirming that Evmos token itself is certified halal.
• The halal compliance is explicitly associated with HAQQ and Islamic Coin (ISLM), which run on evmOS, not Evmos token directly.

Answer: No, Evmos is not explicitly confirmed as halal, but the evmOS technology it uses supports Shariah-compliant projects like HAQQ.