Thread by @Cov_duk

EVMOS 101: The bridge between #Cosmos and #ETH

Here's your everything guide to #Evmos, the scalable, fast, Ethereum-compatible PoS blockchain built in the Cosmos ecosystem

A thread 🧵👇

2. Let’s review a few things. We love #ETH. It’s decentralized, secure and has a massive community. But it sucks at scaling

We love #Cosmos. It’s scale. Its decentralized. But secure can be a prob sometimes.

Read my comos thread here:

https://twitter.com/Cov_duk/status/1500597093869621248

3. The future is multi chain. It’s the the most optimized, resource efficient way forward.

Enter #Evmos, the bridge between ETH and Cosmos. $EVMOS is a scalable, fast, Ethereum-compatible proof of stake blockchain built in the Cosmos ecosystem

4. #Evmos enables is integrating ETH and ETH Virtual machine (EVM) compatible chains to Cosmos.

This means that chains like #Fantom, #Avalanche and #HarmonyONE ( I wrote 101s on all of these😉) can integrate with #Cosmos.

https://twitter.com/Cov_duk/status/1500714387417436168

5. #Comos has this thing called IBC which allows communication and transfer of assets between chains in the ecosystem. Which is big.

EVMOS connects ETH and other EVM chains to the Cosmos ecosystem. Which is even bigger. All EVM compatible, tokens, NFTs and Dapps can be bridged

6. #ETH based Dapps have billions of dollars locked into them. They have the massive ETH community.

Everyone wants these Dapps. However, now, teams can choose the chain that's most suited to their needs and use #Evmos to get the best of both worlds.

7. #Evmos enables Ethereum as a Cosmos SDK application-specific blockchain. This allows teams to choose what they want from Ethereum, Tendermint’s PoS consensus system, allowing for EVM compatibility, high throughput, horizontal scalability via IBC and Fast transaction finality

8. ETH dapps would want to deploy on #Evmos because it gives them PoS consensus, fast transactions, low fees and access to the COSMOS and IBC ecosystem.

9. @AaveAave has already proposed and voted for the implementation of #Evmos, which means that there will be markets for #Cosmos and #Ethereum based assets on $Evmos.

10. $EVMOS is the the native token that is used for governance, staking and rewards.

L2 typically have 3 actors: Devs, Users and block propsers (Miners or validators)

11. Historically, L1s have fallen short of equally giving out value across these actors.

Typically block proposers accumulate the most shares of the network while users and devs are left with less.

#Evmos is taking steps to ensure that all actors get a fair share.

12. At launch, 200M $EVMOS tokens were airdropped.

In the first year, another 300M tokens will be issued, this means that #Evmos is highly inflationary.

Inflation will decrease year by year in an exponential decay schedule.

13. Another really cool feature is #CEVMOS.

CEVMOS is the partnership between @CelestiaOrg
(just wrote a thread on them) and #Evmos

Overall, this is a really cool project that I am excited about. The world is going multi chain.

https://twitter.com/Cov_duk/status/1502058773392801797

14. The next big thing are players that provide this multichain infrastructure.

#Celestia and #Evmos both do this in their own ways and both have tremendous potential to change the crypto landscape. Bullish AF 🐂

15. Accounts to follow for $EVMOS insights:

@EvmosOrg @0xRainandCoffee @bigdsenpai @CitadelOneNode @coslend @EvmOSPunks @EvmosWhale @0xFunda @AnonUser_404 @ObieNotDobo @evmchan @spacefi_io @Xangle_official @KinesisLabs @0xChronicle
@ThorusFi @joshua_aniel

RT would mean a lot!

16. Hope this was insightful, I regularly write web3 101s and breakdowns. Follow to stay updated.

Here are some of my older 101s:

https://twitter.com/Cov_duk/status/1500714387417436168