Overview
Evmos is a scalable and interoperable Ethereum built on Proof-of-Stake with fast-finality.
- EVMOS is built on the Cosmos SDK and runs on top of Tendermint Core.
- It will be a Web3 and EVM compatible based chain.
- Horizontal scalability via IBC to run Ethereum as a Cosmos application-specific blockchain.
- EVMOS (EVMOS) is the EVMOS native token.
Evmos at a glance
Evmos is a scalable, high-throughput Proof-of-Stake blockchain that is fully compatible and interoperable with Ethereum. It will be able to exchange value with the rest of the Cosmos Ecosystem through the Inter Blockchain Communication Protocol (IBC). Essentially, developers will be able to leverage existing Ethereum ecosystem tooling and software to seamlessly deploy smart contracts that can interact with the rest of the Cosmos ecosystem
Mainnet was launched Apr 27, 2022 with over 150 validators, and co-founded by Federico Kunze Küllmer.
Evmos, (EVMOS) token
The EVMOS token is Evmos’ native utility token with an initial genesis supply of 200M EVM over 1B total supply that have primary uses for:
- Staking for securing the Proof-of-Stake chain
- Token used for governance proposals
- Fee distribution and as a means of gas for running smart contracts on the EVM
- Rewards and usage incentives distributed to active participants in the network
Related: What is a token and how is it used in crypto?
Proof-of-Stake (PoS) EVMOS staking
Validators such as ourselves at Stakewith.us (and builders behind Unagii) operate nodes responsible for Evmos operations and will earn staking rewards via transaction fees and distributed EVMOS tokens as incentives. Delegators (or users of Unagii) can help participate and secure the network with their votes by delegating their stakes to us on the Unagii platform to receive a portion of the rewards that validators receive.
Staking EVMOS allows Unagii users to earn yield from rewards as an incentive to stake and provide security, which comes from transaction fees collected by EVMOS plus distributed tokens to stakers. Rewards are paid out on a per block basis and users can choose to withdraw or compound accumulated rewards.
Evmos is highly inflationary, with over 300 million tokens being issued during the first year. Under the initial token model, new tokens will be issued under an exponential decay schedule where the inflation is decreased every year (365 daily epochs). The target will be to issue 1 billion Evmos tokens in 4 years. Newly minted tokens will be distributed on a per-block basis to Staking rewards (40%), Team vesting (25%), Usage incentives (25%) and Community Pool (10%).
Note that staking risks do apply, including slashing risks upon validator downtime and double-signing. There is also a 21 day unbonding period for users when unstaking EVMOS from the network. During this period, users will not be able to withdraw and earn rewards.
Related: Staking coins: What is staking and how does it work?
How to stake EVMOS?
Staking EVMOS on Unagii is simple and convenient.
- Head to app.unagii.com/stake/evmos
- Connect your wallet
- Stake EVMOS
- Approve and confirm transaction (gas fee payable)
View more info: Stakewith.us validator details
