With the Bitcoin price still on the low and with so many speculations going on leaving everyone in doubt if it can make it to it's previous all time high anytime soon.
The truth is that, this time around technical analysis and financial analysis failed us rather the market is being controlled by institutions as speculated.
Alt coins on the other hand are struggling to survive as we are not looking at them getting to their previous all time high soon enough, if you ask me I would say the charts cannot tell us that this time around.
People will doubt if this is the best year for a project to be launched. Well, the Evmos team found this to be a great time to launch and what next after that. You may ask if there is any potentials for this project to grow and fully make it through the year.
By the end of this article, you should either be making a decision to take a share of it and be part of this community or to just sit back and see how well it performs.
##What is Evmos
Evmos launched in early 2022 with the sole goal of ensuring that the applications and assets in the Ethereum chain can be exchanged and the information used in the Cosmo ecosystems while offering great incentives to both users and developers.
It is important to note that Evmos uses a proof of stake(PoS) and it is very scalable.
##Features of Evmos
It uses the inter blockchain compatibility(IBC) to ensure there is scalability between the Ethereum and Cosmos ecosystems.
It has both the Web3 and the Ethereum Virtual Machine(EVM) Compatibility.
The transactions are very fast.
This listed features and so many of them makes it very easy for developers to make best use of the applications and tools in Ethereum to easily build projects that can interact on the Cosmos ecosystem.
Does Evmos have a token?
You might be wondering if Evmos have a token yet, yes, Evmos has a token already and it is already listed on coingecko and trading with a market cap of 377,079,443 USD and an estimated circulating supply of 203,292,561.
The Evmos team started by giving free tokens called rektdrop to all users of Ethereum and Cosmos blockchain that have interacted with some protocols and dapps.
You can check for your eligibility and claim here.
Where to buy and trade Evmos?
Evmos can be bought and traded in Diffusion Finance.
This is an automated market maker(AMM)forked from Uniswap V2, deployed on Evmos and built to power liquidity on the Cosmos EVM.
Steps to buy Evmos
- Go to the Diffusion finance.
- Connect your metamask wallet.
- Choose your trading pair.
-Since you are buying Evmos, you need USDC to be able to do that, you can buy USDC frombinance or any exchange you are comfortable with.
- Input the value of the USDC worth of Evmos you are buying.
- Click on Swap and proceed to sign the transaction in your metamask wallet.
- Congratulations you have been able to buy Evmos and it will be added to your wallet.
Steps to sell Evmos
Go to the Diffusion finance
Connect your metamask wallet
Choose your trading pair, your trading pair should be EVMOS/USDC
- Convert your Evmos to USDC
- Your USDC will be added back to your wallet but for you to be able to send it out to other exchange, you need to convert it from Evmos-USDC to Polygon-USDC or any other recognized stablecoin, for you to do this you need to bridge using dapps that support it.
- Head over to Connext
- Select your pair
- Input the amount
- Click on Swap, after clicking on Swap an approval tab comes up for you to approve your transaction and then Swap to your USDC
Your USDC will appear on your wallet under the polygon network which you can now send out to binance or any other exchange you are most comfortable with.
How can I benefit by having Evmos?
Evmos is really new and looks like a great project. It didn't go to 0 USD considering how the market is and it is still above it's all time low price. So many projects are building on Evmos and rewarding active users of Evmos.
Some benefits of having Evmos:
- Earning EVMOS as staking rewards which you can withdraw anything for staking your EVMOS
- Getting bridging rewards when you bridge on other Dapps using Evmos
- You can stake with different validators and get their token rewards
- NFT projects will take advantage of it's fast and cheap gas fee to build on it, you want to be the first to enjoy this when it eventually happens. -Potential Airdrop from other Protocols!😀
What are the opportunities in Evmos?
There are so many opportunities in Evmos as they are still quite new and already building a big community. If you ask me, i would say you are still very early.
- Job Opportunities :They recently announced on their twitter page that they are hiring.
- Take part in their hackathons and win amazing prices
Will Evmos lead to the end of Ethereum and Cosmos?
It is so unlikely to happen. Evmos only made things easier for users and most especially for developers looking to build using the EVM. It created a way for blockchains to be connected and assets exchanged. So Evmos does not stop the existence of the Ethereum or Cosmos ecosystems rather more developers can get into the system.
Conclusion
Evmos already provided a solution by creating a leverage between the Ethereum and Cosmos Ecosystem considering how high Ethereum gas fee can be and so many projects are already beginning to take advantage of it.
The best bet for anyone is to be active on Evmos and interact with the many protocols leveraging on it to avoid missing out of opportunities or Potential airdrop!😀