Author: Marco González

Editor: Randall Roland

Energy grows with each passing day. That’s the feeling around the network now that EOS EVM is live. A growing number of RPC (remote procedure call) node operators are linking to the EOS EVM bridge. Defibox is among the latest. The recent partnership with Multichain (and live bridge) caters to a broader crypto user base.

In case you missed the launch party, EOS EVM went live on April 13, 2023. It was the first time that the EOS Network connected to the larger crypto ecosystem.

Telos already has a successful EVM. In January, IBC (inter-blockchain communication) was deployed in advance of EOS EVM to interconnect AntelopeIO (forked) chains. Among the first Antelope chains on IBC were Telos and UX Network. WAX soon followed. The Alcor Exchange was among the first to make a friendly User Interface (UI) available.

Just how successful was the launch of the most performant EVM to date? Watch a clip of a Fireside Chat to learn about a record-breaking audit. The audit team went on to explain how impressed they were to find, for the first time ever, that an EVM tested with no bugs found. Also, note that a 100% burn mechanism (of fees) has been employed from the start.

EOS EVM is very, very young. Although DeFi protocols garner the most attention, their UIs are yet to offer the type of functionality that crypto users expect. Even so, the speed of EOS EVM represents a new standard in crypto. Moving funds across chains via the bridge is so fast that it’s nearly impossible to catch (visually) the sending of tokens.

The EOS Network Foundation again went above and beyond with its EVM product. Chintai, maybe the most prestigious EOS-based provider, was among the first to recognize the efforts.

Within two weeks of launch, the ENF would open-source the code and release Antelope Leap v4.0.0. Consensus 2023 was the first event in which EOS EVM was live. The event also served as a sort of launch party. Defibox is the gold standard of EOS decentralized finance. The team now runs its own RPC node.

Here’s a timeline of key events about or related to EOS EVM:

Just two weeks following the successful live launch, the ENF open-sourced the EOS EVM codebase. Open-sourcing the code makes life easier for developers and Antelope IBC chains. There is more freedom to create. Given EOS EVM’s record-breaking performance and reliability, the crypto space can now look to build decentralized exchanges that can compete with the services of traditional centralized exchanges.

It’s been a wild first few weeks for EOS EVM. The EOS Network (now led by the ENF) enjoys unparalleled development. EOS EVM also coordinates efforts in new ways. Visit the Mainnet EOS-EVM Explorer for live transactions, statistics, and an up-to-date list of tokens.

Like most of the crypto space, DeFi is often the lead application. Other types of projects have connected like those offering NFTs (EOS Heroes), games/metaverse (Owlando), and chat (see below). However, much of the focus remains on DeFi:

View Hoken Tech’s EOS EVM Mindmap for a full list of projects connected to EOS EVM.

EOS Swap may have been the first DeFi UI to launch, but others followed with days of EOS EVM going live. Noah Ark and Neutroswap also joined over the first day or two. Frogge maintained an active community well before the launch. JLSwap is currently flying under the radar but promises community support coming soon.

Hoken Tech is also the developer behind:

The day before launch, the ENF completed a partnership with DWF Labs. An investment of $60M will help accelerate the growth of the EOS Network. $45M is set aside for token purchase. $15M is committed to EOS-based projects.

In terms of growth, EOS EVM already offers trading pairs of well-known wrapped tokens, stablecoins, and others like:

Both public (No1 and Pigcoin) and private (EINU, EOS Moon, and Eshib) meme tokens have found their way on the network as well. Note that No1 was the first token on the network (via the development team). Its purpose is as a sort of tracking/history inspired by Bitcoin. View the full list of free-standing tokens on the Mainnet EOS EVM Explorer.

A project’s level of commitment toward future development can be gauged by how well it deploys and maintains its token.

EOS EVM offers advantages for Solidity developers. With EOS EVM, many limitations of the Ethereum blockchain can be overcome. The ENF describes its advantages in this way:

Web3 is only possible on a highly-performant blockchain. EOS leads in speed, reliability, and function. Now with EOS EVM, developers have access to the wealth of resources enjoyed by legacy chains. Furthermore, the adaptability of EOS allows for creative networking that uplifts the entire space. Web3 is here now!