Last week we went live on @EvmosOrg, the layer 1 that is both EVM-compatible and connected to the Cosmos ecosystem via IBC.
You can now bridge tokens from over 14 chains.
Here is why we are excited to work with them.
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1/ Evmos, the EVM hub of @cosmos, is a PoS blockchain in the Cosmos ecosystem that is interoperable with the Ethereum Mainnet, EVM compatible chains, and IBC compatible chains, making it easy for users and developers to move value between chains quickly.
2/ By combining the power of the EVM (the software platform for Ethereum) and IBC (Inter Blockchain Communication Protocols), EVMOS has the potential to be the gateway for the Cosmos Ecosystem
5/ The Evmos team has sent @AaveAave a proposal to deploy their V3 on Evmos, and the proposal has passed. This shows how ready their product is for blue chips dapps
6/ #Tokenomics: Through a built-in shared fee income model, EVMOS tokens will be used to compensate devs and network operators for their services, vote on protocol upgrades, and register tokens on the ERC20 module
7/ It’s important to note that the IBC and its interoperability features only work within the Cosmos ecosystem.
If a chain has been independently built from the Cosmos SDK, it won’t natively interact with the IBC protocol.
9/ The EVMOS team has been laser focused on avoiding asset fragmentation on the chain which would provide a suboptimal experience for users and developers. Nomad’s assets will be the reference on the chain.
1/ Why Next
At Connext, we believe in the power of decentralized systems to put value and ownership back into the hands of individuals. Together, we can make the next generation of dapps and protocols simple, scalable, and secure for everyone
2/ Our focus on fixing the key UX and trust hurdles of a scalable Ethereum drove us to build the first fully trust-minimized bridge in the Ethereum ecosystem last year, which to date has completed over 700,000 transactions and $1.3B in volume. bridge.connext.network
1/ We are excited to announce that Connext has added support to @cronos_chain. Users will now be able to transfer assets between 11+ supported chains & Cronos instantly and cheaply at bridge.connext.network
2/ Cronos is an Ethereum-compatible blockchain network built on Cosmos SDK technology.
3/ It's an open-source Layer 1 chain. Cronos aims to massively scale the DeFi and dApp (Web3) user community by providing builders with the ability to instantly port apps and crypto assets from other chains while benefiting from low tx fees, high throughput, and fast finality.
Amarok is the first major network upgrade of Connext.
For the past few months we've been quietly collecting data about the biggest headaches that stakeholders face when using Connext. The Amarok upgrade rearchitects our protocol to fix these headaches.
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The upgrade leans into our work on Modular Interoperability with @nomadxyz_.
Tl;dr: similar to the modular blockchain thesis, we can get the best set of tradeoffs for bridges while preserving trust-minimization by MODULARIZING our architecture.
1/ We are excited to announce that Connext is bringing its interoperability protocol to @zkSync. Users will soon be able to transfer assets between 11+ supported chains & zkSync instantly and cheaply.
2/ @zksync is taking a cryptography-first approach to scaling blockchains and spearheading the scaling revolution by offering the cheapest token transfers on Ethereum.
3/ Next, they are launching general programmability, EVM-Compatibility, and off-chain data availability for a seamless developer and user experience, for the lowest transaction fees.
🤝Connext has established a strategic partnership with @nomadxyz_ , a new protocol that allows for cheap, fully generalized crosschain communication that can easily be deployed to any chain or L2 that supports user-defined computations.
Nomad is an implementation and extension of the Optics protocol (OPTIMISTIC Interchain Communication).
Taking inspiration from optimistic systems (like Optimistic roll ups), the protocol allows communication between networks in a cheap and secure way.