Evmos, an EVM-compatible, IBC-enabled blockchain in the Cosmos ecosystem, has released its latest upgrade, V12, bringing significant improvements to the user experience and increasing the chain’s security through whitehat incentives secured by law.
Fee Subscriptions: An Exciting Development for Users
Evmos has introduced fee subscriptions, allowing users to pay transaction fees with their unclaimed staking rewards. This means that users no longer need to worry about failed transactions due to a lack of gas. The protocol automatically claims users’ staking rewards, allocates what’s needed for fees, and then distributes the remaining amount to their wallet. This is a game-changer for users who have staked all their tokens and have nothing left to pay fees with.
Single Token Representation: Simplifying the User Experience
Single token representation groups together different versions of the same token, eliminating the need to deal with multiple variations of the same token. This feature simplifies the user experience, making it easier for users to manage their tokens and understand their holdings.
Evmos Security: A Priority for the Core Development Team
Security is a top priority for the Evmos core development team, who have introduced a Simple Agreement for Funding Upload (SAFU) to cover their post-exploit policy for active vulnerabilities in the Evmos blockchain. SAFU outlines an easy way for whitehat hackers to safely return exploited funds for active vulnerabilities in exchange for 5% of the exploited total. By offering whitehat hackers a grace period and an opportunity to return funds without legal consequences, Evmos hopes to mitigate the downside of active vulnerabilities and ensure the protocol’s safety.
Conclusion: The Future is Cross-Chain
Evmos is on a mission to create and ship the foundational tools necessary for building cross-chain applications. With groundbreaking roadmap features like EVM Extensions, the Evmos SDK, and the Evmos dApp Store, Evmos gives developers the freedom to take advantage of the IBC and connect their smart contracts to the Cosmos Ecosystem. The future is cross-chain, and Evmos is leading the way.