Evmos updates and plans
Lately, we had our second episode of the Citizen’s Odyssey stream - the format where we chat with our guests, who are prominent Cosmos explorers. This time we spoke to Evmos’s team member Nic. We discussed the recent past, the present, and the future of Evmos and are happy to share what we’ve learned!

The recent launch of Evmos was remarked as very successful both for users and validators, although, according to Nic, there was a slight security vulnerability in the airdrop functionality. This issue was resolved by an upgrade that patched this vulnerability. Unfortunately, it wasn’t adequately tested at first, halted and then brought back straight away, and finally relaunched on King’s day in Amsterdam.

AAVE deployment is one of the greatest and most awaited upcoming additions to Evmos. AAVE is a decentralized lending system that allows users to borrow and earn interest on crypto assets. In functions by using a set of of smart contracts, which enables these assets to be managed by a distributed network of computers running its software. Participants deposit funds they wish to lend, which are then collected into a liquidity pool. After that, borrowers can withdraw tokens from those pools when they take out a loan. The tokens can be traded or transferred as the lender wishes. Before the launch on Evmos, a governance proposal to implement AAVE on Evmos, took place. This proposal was unanimously approved. The deployment of Aave expands lending to the bigger Evmos and Cosmos ecosystems. As a result, Evmos will become the gateway for users of Ethereum and other EVM chains to the Cosmos. According to Nic, this will also introduce developer-focused incentives and interoperability across Cosmos chains. By the way, Evmos already supports The Graph and Gnosis Safe.

There are multiple apps that are fully integrated with Evmos. For example, Diffusion Finance and Cronus Finance, which are fully permissionless and composable automated market makers, are fully built on Evmos. Another app is the Kinesis exchange, it allows users to manage their spendings and savings from a single account and purchase gold and silver. There is also Coslend - the first money market and lending platform on Evmos. Ultimately, there is an extensive Orbital Apes NFT collection, launched exclusively on Evmos.

Regarding upcoming projects, it is important to mention Tornado.cash, a fully decentralized protocol for private transactions on Ethereum that uses smart contracts and accepts ETH deposits. Evmos is planning on building support for the cross-chain contracts that can make calls to other chains so that everyone can create entirely new apps.

Finally, Evmos is rapidly growing and expanding its projects and programs. That is why the Evmos team is currently hiring new members willing to contribute to the ecosystem by creating, updating, and optimizing existing and standing by projects. Evmos, at the moment, is 100% grant-funded and has the opportunity to invite developers, engineers, business analytics, and marketing specialists.

With its recent launch, Evmos has shown great potential for becoming one of the leading independent application chains for the interchain, making it more straightforward for users and developers to interact. It already unites several ambitious projects, some of which have no analogs in the ecosystem, and keeps working on integrating more projects.

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