Evmos Closes $27M Seed Funding
Summary
Led by Federico Kunze Küllmer, Co-Founder, Evmos is an Ethereum Virtual Machine-based blockchain in the Cosmos ecosystem and enables developers to launch apps that run interoperable contracts across any number of EVM and Cosmos-based blockchains. The company 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. Since going live near the end of April, a variety of DeFi products are enabling users to swap, lend, and borrow both ERC20 and IBC tokens, NFT and gaming applications are cropping up, and much more. A range of wallets, for instance, give users the ability to manage both their ERC20 and IBC assets from one place. Products like Fireblocks, Gnosis Safe, Aegis Custody, and Anchorage Custody have partnered with Evmos to give institutional capital better access to Evmos, while Flux Protocol, DIA, and Redstone have brought their cross-chain oracles to the ecosystem.