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 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.
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
- 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.
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- 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
- 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’
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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To bridge assets from Ethereum and other chains to Evmos, please visit cbridge.celer.network.
To swap assets on Evmos, please visit app.diffusion.fi.
Diffusion DEX allows users to swap from EVMOS token to other assets on Evmos chain, and even to other assets among IBC on Cosmos ecosystem.
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