👻Aave: Deploy Aave V3 on Evmos
Voting Recommendation by (Discord: Raho#0007)
Summary:
This proposal is for Aave to deploy Aave V3 to the Evmos blockchain!
About Evmos Blockchain:
TLDR: Evmos is creating a blockchain that allows Ethereum-native Dapps to deploy on Cosmos’s proof of stake ‘Internet of Blockchains’!
Evmos is a Cosmos-native blockchain, but the primary goal of Evmos is to become chain agnostic (not favoring one chain over another!). To achieve this, Evmos is designed to be interoperable with Ethereum’s EVM, on the Cosmos’ ‘Internet of Blockchains’ (https://cosmos.network/). In other words, Evmos will allow Dapps on Ethereum to use the same tools offered on Ethereum in order to launch on Cosmo’s IBC (https://ibcprotocol.org/). For reference, Cosmos is a network consisting of multiple independent, parallel blockchains, which are called Zones. These zones are powered by Byzantine fault-tolerant consensus protocols (i.e. Tendermint). Some of these zones act as ‘hubs’, which allow for various zones to interoperate with each other! For this reason, Cosmos considers itself the ‘Internet of blockchains’ as their platform allows for many side-chains to rely on consensus from one main ‘hub’, Evmos being a great example of one of these ‘side-chains’.
From Evmos:
Evmos is a scalable, high-throughput Proof-of-Stake blockchain that is fully compatible and interoperable with Ethereum. It's built using the Cosmos SDK (opens new window) which runs on top of Tendermint Core (opens new window)consensus engine.
Evmos allows for running vanilla Ethereum as a Cosmos (opens new window) application-specific blockchain. This allows developers to have all the desired features of Ethereum, while at the same time, benefit from Tendermint’s PoS implementation. Also, because it is built on top of the Cosmos SDK, it will be able to exchange value with the rest of the Cosmos Ecosystem through the Inter Blockchain Communication Protocol (IBC).
Evmos has made some notable partnerships within the Ethereum ecosystem already, despite not having launched yet (Launching February 28th, 2022)! UMA will be providing their services in order to bring decentralized oracles to the Evmos chain, while Connext and Nomad will be assisting Evmos with bridging! Evmos has gotten a lot of attention from Web 3 communities due to their airdrop module! Despite being a Cosmos native blockchain, Evmos has decided to host an airdrop for Ethereum users whom have been ‘rekt’ on Ethereum (Info here:https://evmos.blog/the-evmos-rektdrop-abbe931ba823).
Evmos goal is to become the ‘port-of-entry’ for Ethereum users to all other blockchains! This is ambitious, but if achieved has the potential to change the blockchain ecosystem as we know it today! If/when achieved, this would essentially allow for applications to become ‘universal’ in terms of their integrations!
Evmos is a highly anticipated launch in 2022, and that is because of the opportunities that will open up following their launch, and also because they are giving back to individuals whom may not have a lot of capital to participate! Evmos’s airdrop gives back to all users who have been ‘rekt’ by Ethereum (including gas fees!), thus Evmos aligns themself very well with one of Rabbithole’s core values: Minnows > Whales! Evmos’s has not launched yet, but their commitment to inclusivity can be seen already in their incentivized testnet event (https://evmos.blog/evmos-incentivized-testnet-event-the-mars-meteor-missions-bbbb7ffa1b7c#:~:text=The Mars Meteor Missions outlined,and battle-tested Evmos mainnet.&text=Soon after its formation%2C Mars,liquid mantle and a crust.)!
About the Founders:
Evmos was founded by Federico Kunze Küllmer and Akash Khosla. Federico has been a core contributor to a number of Cosmos projects including Tendermint, Cosmos SDK, Core IBC, Gravity Bridge (formerly Peggy) and Sommelier. He has been building in the blockchain space since 2017 when he was an exchange student at UC Berkeley, where he joined Blockchain at Berkeley. Akash had been working in the Cosmos ecosystem at Anchorage and as a Co-Founder of Blockchain at Berkeley, the blockchain innovation hub where many of the original Cosmos developers started their careers. He’s been working on blockchain and cryptocurrencies since 2016 as a Software Engineer at Anchorage, Chain and Earn.com, in addition to contributing to open source projects like Interledger.
Evmos Token model:https://evmos.blog/the-evmos-token-model-edc07014978b
Evmos Documentation:https://evmos.dev/intro/overview.html
Learn more about Cosmos here:https://cosmos.network/intro
Aave v3 on Evmos:
Despite the growth of Cosmos, there still seems to be a demand for a reliable lending protocol. If passed, this proposal will make Aave the clear leader in terms of lending throughout the rapidly growing Cosmos ecosystem!
Another massive advantage for Aave in this proposal is the ability to become a ‘port’ for all blockchains to Ethereum, and Ethereum to all other blockchains! This is a massive proposal in terms of the opportunities it opens up for both networks! If passed, Aave will be positioned in the center of Cosmos Chains -> Ethereum and Ethereum → Cosmos Chains portability!
Aside from offering a growth opportunity, Evmos is offering ‘Evmos-native usage incentives’ which will allocate 25% of the block allocation of Evmos token to Aave, to be used for further growth and development, or to be used as liquidity mining incentives.
Recommendation: I recommend that the Rabbithole metagovernane pod vote ‘Yes’, in favor of Aave deploying V3 on Evmos. It is clear that Evmos is paying attention to all users, which aligns perfectly with Rabbithole’s core values. It also appears to be a positive-sum proposal, which the metagovernance voting pod aspires to achieve through their votes!
Open Questions:
Feedback:
Execution Status: Not executed, couldn’t get all core team signers
Vote: Yes
Community vote
16 Y
0 N
Pod vote
20 Y
0 N
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