EVMOS review
Ethereum has been killing it over the last couple of days. In the previous 7 days, ETH has pumped 37% all in the anticipation of Ethereum Merge happening soon.  As Ethereum gets hot, EVM chains have now started to steal the show.

Polkadot ecosystem has Moonbeam and NEAR has Aurora that bridges it to Ethereum. But what about Cosmos. The answer is EVMOS – An EVM that connects the Ethereum ecosystem with the Cosmos and brings interoperability between the two to the table.

Standing at a 20X TVL of $8 million since its launch on April 26, EVMOS has soared in popularity. More because of its ongoing airdrops. However, almost $150 million worth of airdrop is still unclaimed. With staking, APR of 452% is EVMOS worth? Are these airdrops worth it? How can you collect your share of these free airdrops?  In this article, you will discover about this very interesting project.

What is EVMOS?

EVMOS is a Proof-of-Stake blockchain. It is scalable and has a high throughput. The most interesting part is its link with Ethereum.  EVMOS is an Ethereum virtual Machine Compatible, IBC-enabled blockchain which means it is the first chain that makes Ethereum and Cosmos interoperable. 

What is evmos

Source: EVMOS

In essence, Evmos dates back to 2016. The Ethermint project already looked into deploying EVM-based smart contracts on Tendermint. They wanted to use PoS as their consensus mechanism. After the IBC (Inter-Blockchain Communication Protocol.) launch in March 2021, the EVMOS team picked up on this again. 

On Evmos, all Ethereum apps can mingle in the Cosmos ecosystem. As a result: 

  • All dApps can build on Ethereum and Cosmos. 
  • Faster transactions and lower costs.
  • High security through PoS. 
  • Through Cosmos’ IBC, other Cosmos blockchains can also take part. Like the Secret Network, Kava, Osmosis, or Crypto.org chain.
What Is the Strength of EVMOS?

EVMOS brings two big ecosystems together. Its strength comes from three features:

  1. Cosmos SDK—It combines two features; its modular framework with Ethereum’s smart contracts. It also connects all other blockchains on Cosmos.
  2. Application Blockchain Interface (ABCI).—This connects the PoS consensus mechanism and dApps. This is how the Cosmos PoS performs similar to the Ethereum PoW.
  3. Ethereum Virtual Machine (EVM).—This is the computation engine of Ethereum. It executes and deploys smart contracts. EVMOS allows for running vanilla Ethereum as a Cosmos application-specific blockchain. In this setup, vanilla means a simple form of the Ethereum framework.
  4. Throughput and Performance—Faster transaction speeds with better scalability.
  5. Interoperability Via IBC—The potential user base expands. With IBC, devs can deploy quickly on all compatible chains.

In short, this combines two big ecosystems.

  • The Cosmos ecosystem has a total market cap of $55.25 billion. It has 49 zones and over 250 apps and services. 
Who Are EVMOS’ Competitors?

There’s always stiff competition out there between blockchains. At the end of the day, it’s all about liquidity and usage. We can find Evmos’ competitors in two verticals.

  • EVM smart contract platforms: Avalanche, Fantom, Harmony, Ethereum L2s
  • IBC smart contract platforms: JUNO

However, Evmos’ is the first one to combine the two biggest crypto ecosystems. This puts them in a unique position. It gives them a head start on all other competitors in the market. Their novel tokenomics also helps them, which attracts devs because they get immediate incentives. Having said that, almost all cosmos projects have dev grants.

Are There Any Risks With EVMOS?

There are always risks, in everything that we do. So, participating in EVMOs has also some risks.  Combining the two biggest crypto ecosystems isn’t an easy task. As the Evmos team found out the hard way. Here are the most important risks:

  • Problems with bugs: First, they scheduled their launch for February 28th, 2022. However, it got postponed to March 2nd. The launch saw quite a few bugs. As a result, they had to stop the chain within a few days after launching. It took six weeks to sort this out before they could re-launch.
  • Tokenomics and Inflation: We see some big names like Aave, Frax Finance, and Diffusion Fi building on EVMOS but there is a risk related to their tokenomics & inflation. We will talk about this in detail in the tokenomics section.
  • Staking: Other risks are staking risks, especially slashing. This means, that when a validator doesn’t fulfill his task correctly, they get punished. Or, in this case, slashed. The validator loses all of them or has their tokens jailed. The delegator loses 5-10% of the tokens.

Team & Ecosystem

Tharsis is the company behind EVMOS. They are all deeply rooted in the Cosmos ecosystem. The team has also received a grant from Cosmos. Here are the three co-founders:

  • Federico Kunze Küllmer.— He’s the CEO. He’s from Chile but currently lives in Berlin, Germany. Frederico has an engineering background. He also has a vast experience in crypto.
  • Nic Z—He is a co-founder and a Cosmos OG. He does take part in the occasional AMA.
  • Akash Khosla—He’s also an engineer and currently lives in Miami, USA. Akash has a few years of experience in the crypto space.

On the other hand, the Evmos ecosystem currently has 64 dApps. But some very exciting players that you may not have expected in a Cosmos environment. For example, Aave and MetaMask. It’s relatively small for now. However, if you look at both the ecosystems of Cosmos and Ethereum, there’s lots of growth ahead. Currently, they offer apps in:

  • DeFi—Aave, Osmosis
  • NFTs—tofuNFT, Orbital Apes
  • Protocols—Cevmos, KYVE
  • Tools—DefiLlama, Fireblocks
  • Incentives—Staking (460% APY), Osmosis-LP
  • CEX—Huobi Global, MEXC
  • And Wallets—Disperze Wallet, Keplr, MetaMask

EVMOS Tokenomics

EVMOS is the native token, which has an initial supply of 200 million tokens. However, it’s highly inflationary for the first 4 years. 2 The team will issue another 800 million tokens over the next 4 years. No less than 125% in the first year (another 300 million tokens) and 500% by year 4.

The current price is at $1.8 and the market cap is $367 million. At this moment, all the 200 million genesis tokens are in circulation. The token saw its ATH at $6.84 on April 28, 2022. Over the last 30 days, the token is up by 34.7%. Then, the token distribution of the original 200 million tokens is as follows;

  • 40% for the Strategic Fund
  • 50% for the Airdrop and 
  • 10% for the Community Pool

EVMOS has a 1 billion total supply and a 200 million initial circulating supply. That means $EVMOS has around 125% inflation. Though it offers a staggering 460% staking APR, there will be lots of selling pressure.

Also, there was no sale for pre-mined/minted EVMOS tokens. They airdropped all tokens. You qualify if you: 

  • Used the Osmosis chain
  • Made use of major Ethereum DeFi apps
  • Used ATOM tokens to vote on specific proposals
  • Used interchain bridges
  • Got rekt in Ethereum or Cosmos. This was the most important factor for the airdrop.

Moreover, as it shows, quite a unique group of users and a fair distribution of the tokens:

There is also the infamous ‘rektdrop’ airdrop. You qualify if you got ‘rekt’ on either Ethereum or Cosmos. There was a snapshot on November 25, 2021. However, because of halting the chain, many people missed out on the airdrop. 

EVMOS Rektdrop Airdrop

There are two links, this is for the original article on the rektdrop airdrop, and this one is about how to claim the current one. Worthwhile to mention that the current staking APR is 460%.

With REstake, you can also get some pretty insane APY on your EVMOS with auto compounding. Rewards are hourly, 2x per day, or daily at 6,862% APY. It’s a manual compound, so it looks like you pay 5% for this service. APY originally started at 10,000%!


Make sure you claim before August 1st. If you have not finished claiming your airdrop by August 1, 2022, at 23:06:40, your claimable airdrop amount will start to decrease every second. This decay process continues until all unclaimed tokens have been returned to the Evmos Community Pool on September 30, 2022, at 23:06:40. Be sure to claim before then.


This is the first layer 1 PoS chain that combines the Ethereum and Cosmos ecosystems. This puts it in a unique position. The potential for this combination is huge. Kava is another project that is EVM compatible now. We talked about them already. However, the first mover advantage is with Evmos.

Also, we looked at the Evmos strengths, and we pointed out some risks. Furthermore, we showed you the team and their competitors. The tokenomics are interesting, to say the least, with their rektdrop airdrop. However, here we also see a highly inflationary token for the first 4 years. But now you know how to check if you qualify for the rektdrop and how you can take part.

Overall, after a difficult start, Evmos seems to be on an unstoppable way up. It will have its highs and lows, but we think this is a project to keep an eye out on.

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