Rising Star Of The Cosmos Ecosystem: EVMOS
The Cosmos ecosystem, which aims to solve the blockchain interoperability problem, calls itself the internet of blockchains. Cosmos argues that separate blockchains should be optimized for different types of applications. Each Cosmos blockchain has its validators, and these networks are secured by the Byzantine Fault-Tolerant (BFT) proof-of-Stake consensus algorithm, Tendermint. Cosmos SDK is used to produce Cosmos blockchains. Inter blockchain protocol (IBC), on the other hand, enables digital assets to be transferred between the networks of the Cosmos ecosystem. These transfers are fast and secure, as if they were on the same network.
Popular Cosmos Chains
We can list the main networks based on Cosmos: Cosmos Hub, Cronos, Thorchain, Terra Luna, Kava, and Osmosis.
Cosmos Hub was the ecosystem's first block-generated blockchain. Since other networks have independent validators, we can still say it is the first among equals. Being listed on major central exchanges and being the source of the majority of Cosmos airdrops are advantages of Cosmos Hub.
You can access detailed information about Cosmos airdrops via The Ultimate Cosmos Airdrop Strategy.
Cronos, formerly Crypto.org, made quite a name for itself when it became the title sponsor of the Los Angeles staples center last year. Still ranked 28th by market value, Cronos is also remembered for its commercial with the slogan "Fortune Favors The Brave," starring Matt Demon. Cronos, an exchange coin, reached a large user base last year thanks to its high-yielding shopping card.
Although Thorchain is based on the Cosmos SDK, it has a standalone wallet and is not included in the IBC. Thorchain is an important DEFI project that enables the decentralized swapping of major coins with their native form.
The biggest hit of the last year's Cosmos network was undoubtedly Terra. The previous year has been quite profitable for Terra Luna investors. The loss of the peg of the UST in May and then its dramatic collapse can be seen as the starting flare of the bear market.
Hosting one of the essential decentralized exchange applications of the Cosmos ecosystem, Osmosis (otherwise Junoswap) was one of the rising stars of the past months. One innovation that increased Osmosis's recognition was Superfluent Staking, allowing investors to earn staking income from coins deposited in liquidity pools.
EVMOS: EVM Meets Interchain Composability
Elmos is a project developed to combine the capabilities of the Ethereum Virtual Machine (EVM) with the superior aspects of the Cosmos ecosystem. It enables software developers creating applications on Ethereum to adapt to Cosmos quickly. Thus, the smart contract capabilities of Ethereum and the advantages of Cosmos, such as low fees, fast finality, and interoperability, come together.
Elmos is not the first Cosmos project to bring Ethereum and Cosmos together. Kava operates with a similar purpose. Both networks are accessible using Metamask, with an older project focused on DEFI activities such as issuing stable coin Kava.
EVMOS coins were fairdrop distributed to Atom and Osmo stakers as of April 29. Fairdrop means an equal distribution of coins to community members.
EVMOS Token Economy
The genesis supply of Evmos coins was 200 million units. 60% (120 million) of these coins were airdropped to Atom and Osmo stakers. EVMOS was later listed on Coinecko. The major centralized exchanges listing EVMOS are Huobi Global and MAXG Global. The majority of trading volume takes place on Osmosis dex.
EVMOS inflation is still at 107%. This situation reveals that Evmos has an ambitious vesting schedule.
The newly minted coins will be distributed the following way, and the inflation rate will be halved yearly. Within the scope of the project, transaction fees will be subband. It is envisaged that this substation will help the widespread use of the network.
Staking Rewards: 40%
Team Vesting: 25%
Usage Incentives: 25%
Community Pool: 10%
In four years, it aims to have 1 billion EVMOS coins. Working with the Tendermint proof-of-stake consensus algorithm, EVMOS has 150 active validators.
EVMOS Price Action
EVMOS has met with intense interest from investors since its launch. Despite its high inflation, it maintained its value compared to Bitcoin. We can say that after the first sales from the airdrop are over, it regularly gains in value.
EVMOS currently ranks 67th among all coins by market cap.
We can see how active Cosmos blockchains are through IBC statistics. IBC statistics show that Evmos has achieved transaction volumes close to networks like Cosmos, Osmosis, and Juno in a short time.
EVMOS Investment Alternatives
Since EVMOS is a highly inflationary coin, buying it from a centralized exchange and holding it will not be an appropriate form of investment.
To stake EVMOS, installing the KEPLR wallet, the common wallet of the Cosmos ecosystem, is necessary. It is possible to stake EVMOS coins via app.evmos.org after the KEPLR board. Mintscan Evmos statistics show 279% of staking income.
Investing in EVMOS through the Evmos/Osmo pool in Osmosis DEX is also possible. The said pool still provides 84% returns.
On the other hand, we can also invest in EVMOS with Metamask wallet via Diffusion Finance. The gUSDC/wEVMOS pool in this app provides 288% returns.
Among these alternatives, the staking option seems more appropriate regarding both return rate and security.
Conclusion
EVMOS is frequently shown among the trending coins on Coingecko. With the help of Fiardrop, it has become a project that attracts the attention of the masses.
The Cosmos ecosystem, which was damaged by the collapse of Terra, has recently started to become popular again. On the other hand, EVMOS is not yet my favorite Cosmos coin. Because when the flow of funds is interrupted, highly inflationary currencies can face rapid depreciation.
There are dozens of applications still under development in the EVMOS ecosystem. However, none of the EVMOS applications have become popular. One of the factors that led to this result is that EVMOS is only a few months old.
EVMOS seems sympathetic to me as it has broad community support. we have to admit that the Cosmos infrastructure is robust, as it has enabled the emergence of many popular coins. However, I prefer the alternatives in the Hive ecosystem for investment.
I am not an investment expert. Please do your own research on EVMOS.
Thank you for reading.
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PS. Awesome to see you're capitalising on your P3 Google ranking for the term:
Just like you've done here, keep linking back to that original post whenever you talk about further opportunities in COSMOS and try to keep it relevant if you can.
Great work!
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