Highlights if this article:
- Evmos is the port-of-entry from Ethereum to Cosmos and vice versa
- Tharsis Labs, the Evmos development team raised $27m through token sales
- Investors includes: Coinbase, Huobi Ventures & Circle Ventures, and was led by Polychain Capital
Tharsis Labs have followed up with the relaunch of DeFi on Evmos with a $27m raise from token sales to accelerate the development of the cross-chain dApp
This will be their first ever token sale to raised funds. It was led by Polychain Capital, with investments from Huobi Ventures, Coinbase Ventures, Circle Ventures and other investors from Web3
The primary aim of raising this fund was to “support more development by Tharsis Labs on Evmos and accelerate the growth of Evmos ecosystem.
It’s been a tough few months for Evmos and all the projects deployed or launched on Evmos. There’s been one battle after the other to overcome. Most notable, the Nomad bridge exploit which saw liquidity drained, and the little left moved away from the chain. Leaving Evmos at a meager $1.2m TVL just 3 weeks ago.
Ever since Prop #64 was passed and went into effect, TVL on Evmos has gone up nicely. The news of raising money to push the ecosystem will further pique the interest of many DeFi degens and sidelines watching to see what happens
“Evmos is ushering in a new wave of EVM dApp development and innovation by empowering developers with a simple solution for cross-ecosystem compatibility,”
Federico Kunze Küllmer, Co-Founder of Evmos
Before now, activities on the chain has been fully community funded. Now, the core team has funds to work with. Its interesting to imagine what’s next for Evmos
The biggest projects on Evmos are:
Diffusion – The premier DEX on Evmos
Orbital Apes – NFT collection and market place
Evmos Domains – A Web3 naming service on Evmos
About Evmos
Evmos opens a new frontier for blockchain applications, expanding the functionality of the EVM by enabling cross-chain applications that tap the liquidity and user bases of multiple blockchain ecosystems to provide more unified experiences through interoperability, novel token economics and in-protocol incentives for users, developers and validators
