Published in: Blog

Evmos Price

Author Bacoor Team

Published on: November 15, 2022

Table of Contents

What is Evmos? Evmos Price

About the chain

Evmos is a notable Layer 1 built on top of Cosmos ecosystem. It facillitates the Cosmos IBC (Inter-Blockchain Communication) protocol by adopting Cosmos SDK within its infrastructure.

Even so, the chain is an EVM compatible one that has a complete set of RPC from mainnet, testnet to local. This allows users to use popular Ethereum wallets such as Metamask, KEYRING PRO to manage all assets on Evmos chain.

The chain aims to provide a scalable, high-throughput network (2s block time), to match Ethereum standards. Technically, it runs on PoS (Proof-of-Stake) Tendermint Core consensus engine which fully stimulates Ethereum environment for developers to build products, so called vanilla Ethereum.

Besides, by staying on IBC, Evmos assets are interchangeable with assets on other chains built on Comos through a dedicated DEX as Osmosis, without a need of bridging assets from one chain to another.

In terms of resources, the chain utilizes geth as a dedicated library to promote code reuse and improve maintainability. It also brings JSON-RPC layer to Web3 adoption that imitates Ethereum clients and tooling (Metamask, Remix, Truffle, etc).

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Evmos Price

Evmos price has been declined steadily since its launch in April, 2022.

At the time of this article, EVMOS price is hanging around $1 with over $400 million in market cap.

Please find more info about Evmos price in the table below.

Evmos Coin

The Native Token

EVMOS coin is the native token of Evmos blockchain that fuels every operation of the system.

As an active vehicle of system governance, it properly balances the benefits between 03 main parties include developers, users, and validators that optimizes economic outcomes.

Its mechanism puts the fate of the network into the hands of Evmos community through DAO voting, controlling all updates, operations, and resources via Evmos port-of-entry to Cosmos.

EVMOS coin will be used in certain cases as below.

Paying developers and network operators for their services via built-in shared fee revenue model (the dApp Store)
Voting on protocol upgrades
Registering tokens on the ERC20 module for EVM-IBC integration with ERC20s
Allotting usage incentives for applications on Evmos
Enabling precompiles for useful, high priority functionality

Tokenomics

Token name: Evmos
Token symbol: EVMOS
Total (Max) supply: 1,000,000,000
Circulation supply (34.81% – 11/2022): 348,118,103
All Time High (May 04, 2022): $4.55
All Time Low (Jun 13, 2022): $1.12

Evmos has an initial supply of 200 million tokens at genesis phase, splitted between the Rektdrop participants, the community pool and a strategic reserve.

300 million tokens will be issued in the first year. Under an inflationary model, EVMOS token will be issued under an exponential decay schedule, where the inflation is decreased every year (365 daily epochs). The whole supply will be released completely in 4 years.

Evmos vesting

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Evmos RPC

Mainnet RPC

Chain ID: 9001
Network Name: Evmos Mainnet
New RPC URL: https://eth.bd.evmos.org:8545
Currency Symbol: EVMOS
Block Explorer URL: https://evm.evmos.org

Testnet RPC

Chain ID: 9000
Network Name: Evmos Testnet
New RPC URL: https://eth.bd.evmos.dev:8545
Currency Symbol: tEVMOS
Block Explorer URL: https://evm.evmos.dev

Add to KEYRING PRO

Download KEYRING PRO on iOS, Android, APK, Huawei App Gallery, or Mac M1
Create a multichain account
Add RPC

On home screen, tap ‘Menu’ icon
Choose ‘Manage Chains’
Tap on the ‘+’ icon
Insert RPC parameters, please refer to the RPC section above.
Tap ‘Add’
On the home screen, choose an address you want to use on the newly added chain, or you can create a new account
Choose ‘Use this address with other chains’
Choose the newly added chain
Tap ‘Create’

Evmos Staking

User can stake EVMOS at app.evmos.org to become a validator, or a delegator to secure the network and earn rewards in return.

Those roles could expand to provide oracles, secure bridges, provide rollup services to Celestia and other Evmos sub chains, making them critical participants.

During the validating process, 25% of the block emission is going toward a pool dedicated to incentivizing users.

The block reward structure can be found below.

Staking Rewards: 40%
Team Vesting: 25%
Usage Incentives: 25%
Community Pool: 10%

At genesis, there were 150 dependent validators joined the network. At this point, the number of possible validators is subject to governance and can be adjusted.

In the staking process, 40% of newly released tokens will become a reward for active validators and their delegators proportionally based on the amount of Evmos tokens staked.

Basically, validators charge a commission rate to their delegators on staking rewards earned. Each validator may choose their own commission rate, but there is a network-wide mandated minimum commission rate of 5%.

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