Everything EOS Monthly Report — March, 2023
Stay ahead of the curve with the Everything EOS Monthly Report, your go-to source for comprehensive and up-to-date news from the EOS ecosystem. Our report scours the furthest reaches of the EOS community to bring you the freshest updates and most compelling stories. Don’t miss a beat in the rapidly evolving world of EOS!
EOS EVM
The EOS Ethereum Virtual Machine (EOS EVM) launches on April 14, 2023, after over a year of development. The EOS EVM emulates the Ethereum EVM, allowing developers to deploy and run decentralized applications (dApps) in Solidity on the EOS platform. This integration will likely attract new developers and projects to the EOS ecosystem, with the powerful performance of the EOS tech stack combined with the accessible resources of the Ethereum community. The ENF is also deploying funding and resources to help projects get started.
With its testnet launched, developers are already building on the EOS EVM, with applications like TrustSwap gearing up for its launch.
Find out more in this deep dive into EOS EVM!
Pomelo Season 5
The EOS community’s focus turned to Pomelo this month, as This month, the EOS community’s focus turned to Pomelo as grant applications and donations on the quadratic crowdfunding platform kicked into high gear.
Pomelo is a crowdfunding platform where users can post their Web3 public good projects and bring their community to support them. Projects also have their donations matched based on the number of unique donors from a pool of funds, bringing in funding from two sources.
Pomelo utilizes quadratic funding, where the greater number of individuals that support a project, the more funds that project will receive from the matching pool.
Season five of Pomelo raised over $84,000 in donations to compete for their share of the $170,730 matching pool, representing an increase in the amount raised per matching pool dollar and highlighting Pomelo’s effectiveness at attracting a passionate community.
Messari Report
Messari is a data and research firm that provides accurate and up-to-date information and analytics for cryptocurrency projects. This month, they published a report on EOS, finally bringing key developments of the new EOS into the public eye on a fair and trusted platform.
The report includes a history of EOS, highlighting its new life under the direction of the EOS Network Foundation. It references the consensus upgrade, the new EOS EVM, and a renewed growth strategy, among other focal points. The article also highlights the Antelope coalition and the IBC launch on the EOS Network, which allows Antelope-based blockchains to communicate securely and scale horizontally.
Along with an article by Coindesk, this coverage in the broader crypto media landscape highlights the impact of the narrative reversal spearheaded by the resilient EOS community.
The news follows the recent commitment of EOS Network Ventures (ENV) to invest $20 million into EOS EVM and GameFi projects further emphasizes the importance of interoperability solutions like Multichain. This partnership will connect the EOS ecosystem with various EVM and non-EVM assets and dApps, fostering growth in both ecosystems.
Project Reports
Each month, the ENF publishes a report on progress toward the development milestones of each internal and contracted project. This report highlights the current status of each initiative and compares this to the projected milestone completion dates, illuminating blockers and behind-schedule items.
This month’s report highlights recent developments, including the EOS EVM, peering improvements, instant finality, the Wharf SDK, and more. While some items are behind schedule, milestone timelines have not yet been adjusted for any recent changes in scope. Most projects will likely meet or exceed their specified scope within their projected timeline.
Check out this month’s Operations Health Report for more details about these developments.
This month marks the Yield+ program’s 6-month anniversary, showcasing continued progress and outperforming benchmarks. The initiative currently counts EOS and USDT as TVL and rewards eligible Dapps, with four tiers of eligibility based on their minimum TVL.
In the most recent report, the Yield+ program exhibits a stable Entropy and a positively trending TVL to Market Cap ratio, reflecting the increasing diversification of dApps and the fundamental growth of the program. The program’s Total Value Locked (TVL) in EOS increased by over 8%, while the overall US Dollar TVL increased by 15% to $37 million across 15 participating dApps. The EOS ecosystem has seen steady growth in TVL against market cap, with a strong correlation between EOS Market Price and TVL.
The program aims to attract on-chain liquidity at this stage, catalyzing economic development and encouraging further incentive modelling to maximize opportunities.
Each month, the ENF hosts a call with the top 30 EOS block producers to discuss developments in the ecosystem and provide full transparency into the foundation’s operations.
In this month’s meeting, ENF COO Ted Cahall reported on the progress of various initiatives, including the grant framework, which has processed 50 grants and accepted 17 worth $1.2 million. Ted also discussed the release cadence of Antelope software and the ENF’s involvement in the platform’s pivot to GameFi. CEO Yves La Rose also shared updates on the EOS EVM launch, slated for April 14, and the Yield+ program, which has continued to see an increase in TVL despite challenging market conditions.
The ENF is also looking to expand its presence in Hong Kong, with plans to increase the region’s engineering and business development staff.
Check out the article on the ENF Blog to find out more!
Direct Grant Framework
The Facings NFT Collection Manager is a grant proposal for an open-source platform that enables easy management of NFT collections based on the AtomicAssets standard. This project aims to attract gaming studios to the EOS blockchain by providing a user-friendly interface that leverages EOS’s robustness. The first grant for Facings was an $80k grant to develop the application’s framework, and the project’s new $180k grant will help develop integrations and higher-level components. The ultimate goal is to create a gamification launchpad that attracts gamers and developers to the EOS network.
The Defibox Vault is a decentralized single-token staking protocol. The protocol allows users to earn corresponding token income by depositing tokens and will issue a standard EOS token called sToken, which represents a deposit certificate. Vault is different from Defibox’s BSS, which is only available for Defibox users who have BOX tokens. This $80k grant will bring development into stage two, which will bring further smart contract development and documentation updates.
EVMNS is a distributed, open, and extensible multi-chain Decentralized ID domain naming system built on EVM and EOS that maps human-readable and easy-to-remember names with various content types such as EVM addresses, EOS addresses, other cryptocurrency addresses, content hashes, URLs, and metadata. Funded with a $195k grant from the ENF, EVMNS aims to fulfill the need for one identity accessible to multiple blockchains and to provide a more user-friendly experience in the Web3 world.
Leap 4.0.0. Upgrade
Antelope Leap v4.0.0-rc2 was released this month for testing. This version improves node performance, block propagation, and EVM-related functions.
New features include:
- Read-only transactions allow users to retrieve complex chain information without changing the state.
- Auto-peering with scheduled BP nodes optimizes latency and block production.
- A snapshot scheduling API for managing and scheduling snapshot requests simplifies the snapshot process.
- A Prometheus Exporter Plugin exposes data with Prometheus, which collects and displays node metrics.
- Log splitting for blocks and state history allows users to specify how many split log files to retain and automates aging out older logs.
- The blocks log splitting feature includes new options for the chain plugin.
- Similarly, the SHiP log splitting feature includes new options for the state history plugin.
- The release incorporates a faster bilinear group cryptography library for EVM support.
- The release includes additional improvements like parallelizing read-only transaction execution, lighter validation for relays, and moving more tasks out from the main thread to process them in separate threads.
- The release removes several deprecated features.
- The private-key nodeos config was also deprecated.
- An upcoming version of Leap will remove Ubuntu 18.04 support.
This version is the first release candidate of 4.0.0 after a tagged but unreleased 4.0.0-rc1. The new features in Leap v4.0 will help network participants optimize transaction throughput and eliminate some of the most irritating inefficiencies of current BP infrastructure.
Technical Meetings & Community Discussions
The EOS Network is home to some of the most technically proficient teams and most passionate advocates in the blockchain industry. These groups find tremendous value in collaboration, and in this spirit, they meet several times each month to discuss software development, infrastructure improvements, and general ecosystem activity.
The Antelope Coalition and Node Operator meetings are more technical, focusing on identifying key avenues for improvement within the Antelope protocol and the EOS blockchain.
This month, the Coalition largely focused their meetings on the impending Leap v4.0 release and additional software components. They also shared significant progress on IBC, the EOS/Antelope Ledger app, and the Wharf SDK.
Node operators spent much of March discussing special-purpose nodes with ENF engineers, focusing on identifying different node use cases so developers can build these configurations into the core software and identify areas for improvement.
Meanwhile, the entire EOS community gathers on Discord each Wednesday for the EOS Fireside Chat with worldwide EOS news and updates. This month, the conversations largely centered around the spring round of Pomelo but also featured updates on the EOS EVM, Greymass’ Wharf SDK, and a new $20m venture fund for EOS EVM projects.
Global Event Representation
Conferences represent a chance for the ENF and other stakeholders in the EOS ecosystem to reach out to builders and potential partners. This outreach is critical to building up the community of leaders and builders developing on EOS and Antelope.
This recently released report details the conferences attended by members of the ENF and EOS stakeholders throughout the month of March:
Upcoming Conferences
The ENF will be at Consensus from April 26-28, and will host a side event for passionate EOS and Antelope community members. Reach out to the ENF to reserve your place!
Recurring EOS Events
The EOS community also hosts many online events that anyone can join every week:
- EOS Synergy Show, Tuesdays 19 UTC on Twitter Spaces (Twitter, Website)
- EOS Fireside Chat, Wednesdays 19 UTC on Discord (Youtube, Short Clips)
- EOS Support Giveaway Show, Thursdays 17 UTC on Twitter Spaces (Twitter, Website)
- Hot Sauce, Fridays 16 UTC on YouTube (YouTube, Twitter)
- Eden Town Hall, Sundays 16 UTC on Zoom (Discord, Youtube)
EOS Network
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
EOS Network Foundation
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
