Evmos unveils EVM Extensions to boost Cosmos interoperability

Evmos, an Ethereum-compatible blockchain, has unveiled EVM Extensions, a development functionality for creating cross-chain decentralized applications.

The extensions are still in a testnet phase but will be deployed to the main chain shortly.

EVM Extensions are a series of precompiled contracts that let developers monitor state transitions on other chains. This means users can execute transactions across different chains while keeping an eye on the balances in each wallet.

"EVM Extensions will effectively free developers from the constraints of a single blockchain, enabling them to customize smart contracts and applications with the functionality of IBC modules," said Federico Kunze Küllmer, co-founder of Evmos.

EVM Extensions also integrate with Cosmos’ cross-chain communication protocol called Inter-Blockchain Communication (IBC), which allows Evmos applications to easily send data to, and get data from, external chains. The end result is users can access cross-chain liquidity and applications across numerous Cosmos networks via a single interface on Evmos.

Decentralized finance (DeFi) application on Evmos will be able interact with decentralized exchanges on platforms like Osmosis or Juno, and subsequently redirect their liquidity back to applications on Evmos. EVM Extensions can help create new use cases for the next generation of interoperable apps such as liquid staking tokens (LSTs) that can work on multiple chains simultaneously, the team said.

Evmos is based on the Cosmos software stack and is also compatible with Ethereum apps. Last year, the team raised $27 million in a token fundraising round led by Polychain Capital.