A Deep Dive into Evmos Blockchain & Token

Mike Harry
Jan 2023
10 minutes to read
Fact checked

Introduction: Everything you need to know about Evmos the blockchain and EVMOS the token.

Evmos Table of content:

  1. Evmos History
  2. What is Evmos?
  3. Evmos Value Proposition
  4. Evmos Token & Tokenomics
  5. Evmos Airdrop
  6. Evmos Price
  7. Evmos Price Prediction
  8. Is Evmos a good Investment? 
  9. How do you buy Evmos?

Evmos History

The idea behind Evmos came about in 2016 with the Ethermint proof of concept. The goal was to bring new use cases to the Cosmos ecosystem that were not possible on Ethereum, and full Ethereum Virtual Machine (EVM) support to Solidity developers.

In 2021, with the passing of Cosmos Hub Proposal 44, the founding team consisting of core Cosmos contributors @fekunze @akash_khosla and Nic Z, received an investment of 100,000 ATOM from the Cosmos Hub to build Evmos.

The team had at that time been involved in the blockchain space for 5 years and had vast experience in cryptography and distributed systems. In April 2022, Evmos launched and the distribution of the biggest airdrop in history (two million qualified addresses) began.  

What is Evmos? 

The name Evmos is short for EVM (Ethereum Virtual Machine) on Cosmos. Evmos is an open source EVM compatible Proof-of-Stake (POS) blockchain, built using the Cosmos SDK on top of Tendermint Core

Evmos allows developers to leverage existing Ethereum ecosystem tooling and software to deploy smart contracts in the Cosmos ecosystem. Solidity developers get the main features of Ethereum while benefiting from Tendermint’s PoS consensus engine. 

Developers can deploy existing dApps from Ethereum (and other EVM-compatible blockchains) or write new applications from scratch in the Solidity programming language. Well known projects such as Aave have committed to expanding to Evmos and the full list of the Evmos ecosystem can be found here

Evmos Value Proposition

Most chains in the Cosmos ecosystem today use CosmWasm VM. This means that most applications are built using Rust or Go. Evmos extends the Cosmos ecosystem to smart contract developers who know the solidity programming language.

There are many reasons why Solidity developer would want to port over or build new applications on Evmos. One is that Evmos is not restricted by Ethereums transaction speed, but there are many more:


  • High throughput
  • Fast transaction finality (2 seconds)
  • Low gas fees ($0.05 avg fee)
  • Horizontal scalability via IBC
  • Modular Structure

Evmos further facilitates the interoperability between EVM-based and Cosmos SDK chains. Applications built on Evmos also instantly get to tap into the rapidly growing $61B market cap Cosmos Ecosystem through IBC interoperability.

In the future, Evmos has plans to support the development of application-specific chains that use the Ethermint library. 

Evmos connected to Etheremint-based chains
Evmos connected to Etheremint-based chains

Another interesting aspect of Evmos is their partnership with Celestia to build Cevmos, short for Celestia-EVM on Cosmos. Celestia is an application specific blockchain using the Cosmos SDK designed to handle data availability and settlement, but not execution. 

CEVMos represents a modular stack: EVMos for settlement and Celestia for data availability. By using Celestia as a Data Availability Layer, EVMOS's rollups enable more throughput, scalability, and improved security. 

Evmos & Celestia Modular Stack
Evmos & Celestia Modular Stack

Evmos Token & Tokenomics 

EVMOS is the native token which is used for staking, governance and transaction fees. The total supply of EVMOS is one billion tokens with the initial 200 million launched at genesis. In total 300 million Evmos will be issued in year one, and one billion by the end of year four. After year four it is up to the community to vote and decide on the future inflation schedule. 

Evmos Supply Over Time
Evmos Supply Over Time

The token distribution target after four years will be as follows: 

  • Airdrop: 8%
  • Community pool: 10%
  • Strategic: 10%
  • Team: 20%
  • Staking rewards: 32%

The goal of the EVMOS token is to provide a balanced set of network incentives to better align outcomes between developers, validators and users. Evmos has a unique built-in shared revenue model (the dApp store) to pay developers and network operators. Initially this fee distribution will be split 50/50 between validators and contract deployers. 

This shared revenue model rewards developers based on the usage of their dApps. Instead of burning the base fee, it gets redistributed based on network usage. Developers are thus incentivized to deliver value to users instead of charging high platform fees, while receiving a stake in the growth of the protocol itself. 

Evmos Airdrop

The EVMOS airdrop (Rektdrop) took place in may 2022 and targeted participants of the Cosmos and Ethereum ecosystem. There was no pre-sale and no pre-mining for the Evmos token. If you still have not claimed your rektdrop, read this article to find out if you are eligible to claim it.  

Evmos Airdrop
Evmos Airdrop

Evmos Price

As of 15.09.22, the price of EVMOS is $2.86 which gives Evmos a fully diluted market cap of $2.86 billion. 

Evmos Price prediction

The future price of Evmos is going to depend on multiple variables. One is the number of developers and users that the team will be able to attract.

One big benefit that Evmos has over EVM-competitors like Ethereum, Binance Smart Chain, Avalanche, Polygon, Fantom etc, is its native interoperability with the fast growing Cosmos ecosystem. The more the Cosmos ecosystem grows, the more attractive it will be for solidity developers to leverage that growth by launching applications on Evmos. 

Further, Evmos partnership with Celestia may prove to be quite advantageous as Celestia is touted to be one of the possible “end game” scaling solutions for crypto. There are two main contenders in the “modular blockchain stack” space. Ethereum 2.0 and Cosmos + Celestia + Evmos (via optimint). The idea here is that rollups will play a central role in shifting from “monolithic” to “modular” blockchain architectures. 

While it is impossible to predict future prices, we can use historic benchmarks to provide possible price ranges. Below we have outlined the market caps achieved by other EVM-compatible blockchains at the height of the 2021 bull market.

  • Ethereum (ETH): $4800 price per token and $560 billion fully diluted market cap 
  • Binance Smart Chain (BNB): $650 price per token and $110 billion FDV
  • Avalanche (AVAX): $135 price per token and $100 billion FDV
  • Polygon (MATIC): $2.9 price per token and $20 billion FDV
  • Fantom (FTM): $3.3 price per token and $10 billion FDV

Based on historical benchmarks, should the EVMOS token achieve similar success, we could see a price increase between 3-180X from current prices. To sanity check these numbers a bit, take into account that it took Ethereum 7 years and being the leading smart contract platform to achieve a $500+ billion dollar market cap.

Remember that past performance is no indication of future performance. The blockchain space is moving very quickly and it is hard to predict long term winners.

Is Evmos a good investment? 

While nobody can predict the future, here are a few variables to look out for as they have a high probability of impacting the future success of Evmos. 

  1. Are current projects on Evmos gaining traction? 
  2. How does the growth of new projects look like? 
  3. How many people are using Evmos today? 
  4. How does the growth of new users look like? 
  5. How is the core development team improving Evmos?
  6. Is the popularity of solidity increasing or decreasing? 
  7. Is the cosmos ecosystem as a whole growing? 
  8. How is the collaboration with Celestia unfolding? 

How do you buy Evmos?

To buy the EVMOS token, we recommend using Osmosis, the cosmos native decentralized exchange. In order to use Osmosis, you will need to download the Keplr-wallet

Mike Harry
Mike is a passionate crypto enthusiast who bought his first Bitcoin in 2016. With a natural curiosity and a love for learning and tinkering, Mike is always trying out new DeFi applications. Mike excels at breaking down difficult concepts into easy-to-read guides for beginners.

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