krane Profile picture
13 Jan, 20 tweets, 5 min read
1/ After my thread on @osmosiszone, thought I should do a full thread on @EvmosOrg and why I think it's going to be in a unique position to drive a lot of economic activity in the Cosmos Ecosystem.
2/ But first, let’s start by understanding what Evmos is: Evmos is an EVM compatible chain built on top of the Cosmos SDK.
3/ It uses the same networking and consensus layers as Terra, Cosmos Hub, and Osmosis which means the substrate of the Evmos blockchain has been battle-tested through millions of blocks.
4/ What Evmos does differently is that it adds EVM compatibility to the application layer of the blockchain allowing contracts written in solidity to be deployed to the chain.
5/ Evmos also has an ERC-20 module that facilitates the easy conversion of Cosmos-based tokens to ERC-20 tokens and vice versa (I'll be trying this out using evmos.me/convertcoins developed by @gepaoletti for hackatom).
6/ Evmos will thus be interoperable with Ethereum, letting assets like ETH, FRAX and OHM flow into the cosmos and interact with Cosmos-native assets like ATOM, LUNA and OSMO.
7/ These interactions will not only happen on Evmos itself, but through the movement of Ethereum-based assets through the wider cosmos ecosystem. For example, I am sure stable swap pools will become more common on Osmosis with assets like USDC, FRAX and UST being pooled together.
8/ Sidenote: With @LayerZero_Labs labs going live I think Osmosis will become the most liquid DEX on the multichain, like @bluekirbyfi says, OSMO good coin.
9/ With EVM, builders on Evmos will be able to leverage the huge amounts of development that has already happened on Ethereum.
10/ This means that the time to bootstrap DeFi primitives like money markets, POL, concentrated liquidity DEXs, options protocols will be a lot lower for Evmos than it has been on other Cosmos chains.
11/ A common example I like to throw out here is that there is no ubiquitous way to borrow against atoms in the cosmos ecosystem but I hope this changes very quickly as Evmos mainnet goes live.
12/ So, in the short to mid-term, think we can expect an explosion of activity (like avalanche C-chain) on Evmos that integrates Cosmos assets and satisfies the need for ATOM/OSMO holders to more productively use their investments.
13/ In the longer term, Evmos' partnership with @CelestiaOrg, dubbed cevmos will allow for the easy creation of EVM-based rollups on top of a specialised combo of settlement and data availability layers.
14/ I'm personally a big fan of the idea of separating DA and settlement, and also making the settlement layer specialised enough to where rollups don't have to compete with non-rollup contracts for blockspace (link to design by @musalbas here: forum.celestia.org/t/an-open-modu…).
15/ So, if rollups + EVM is the execution environment winner in the long-term I expect that Evmos will be able to scale and win a good % of market share especially if Ethereum scaling continues to get more complicated.
16/ Okay Evmos sounds like its got potential. So how do we get exposure to the evmos token? Evmos will be executing what I think will be one of the biggest airdrops in crypto history with the rekt drop (link to announcement here: evmos.blog/the-evmos-rekt…).
17/ They'll be rewarding participants from both the Ethereum and Cosmos ecosystems and attracting liquidity from both sides of the proverbial Evmos aisle.
18/ The airdrop will bootstrap initial liquidity for the token and it should be tradeable on Osmosis post launch (launch for mainnet is slated for the 20th of January).
19/ If the chain works as well as Terra/Osmosis I expect many capable builders from Cosmos and Ethereum to onboard to Evmos and for users to follow (could be immediate due to anticipation or at a later time when incentives/funds are announced).
20/ Irrespective, think Evmos will be a good place to bridge to as soon as it launches and dogfood some of the early apps on it.

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More from @0xkrane

4 Jan
1/ Spent some time reading through the docs for @osmosiszone and thought I’d make a thread about the most interesting parts of the project 🧵:
2/ First of all, it seems like there’s a general lack of excitement for Osmosis on CT and I think that's absolutely criminal given how much more interesting it is than other DEX. I'm told @bluekirbyfi and @zmanian would agree with my sentiments here.
3/ So what is Osmosis? Osmosis is a Cosmos SDK-based chain that aims to be "the DEX" for the Comsos Ecosystem. With Osmosis recently crossing 1 billion in DEX TVL I’d say it's well on its way there.
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