Exploring the EOS EVM DeFi Landscape
Disclaimer: None of the information provided in this article constitutes financial advice. It’s important to remember that engaging with DeFi carries inherent risks, and individuals should conduct thorough research and exercise caution when engaging with DeFi projects.
Since its launch on April 16th, 2023, the EOS EVM ecosystem has opened up a new world of opportunities for those who wish to leverage the performance, reliability, and low fees on EOS from within the familiar EVM framework. As this next wave of social and financial capital enters the ecosystem, we are seeing a proliferation of developers looking to build their dApps on the EOS EVM. With new listings and resources being constantly added, it is a challenge to keep up with the latest developments.
In this article we will provide an overview of the notable projects and tools within the EOS EVM ecosystem to help readers navigate the most performant EVM on the market.
For a comprehensive overview and FAQ of the EOS EVM, see the main EOS EVM page.
More details on EOS EVM’s revenue model and burn mechanism can be found in the EOS EVM Tokenomics Deep Dive.
Wallets
Wallet infrastructure plays a crucial role in any ecosystem, allowing users to securely store, send, receive, and exchange various cryptocurrencies, connect with decentralized applications (dApps) and participate in decentralized finance (DeFi) activities. The EOS EVM is supported by a range of wallets designed specifically for this platform, Here are several notable options.
Coinhub
Coinhub is a user-friendly, open source, multi-chain cryptocurrency wallet supporting 50+ public blockchains and 2000+ dApps. Coinhub offers real-time market data, and a variety of cross-chain transfer functions. Website | Twitter
FoxWallet
FoxWallet is a multi-chain cryptocurrency wallet with over 1M users that supports 20+ chains. The application is available on iOS, Android, and Google Play. Website | Twitter
Ledger
Ledger is a leading hardware wallet solution that integrates with various blockchain networks. The Ledger wallet ensures secure transaction signing and allows you to safely store a wide range of digital assets by keeping your private keys offline and protected from online threats. Website | Twitter
MetaMask
MetaMask is a popular cryptocurrency wallet offering a Chrome browser extension, as well as iOS and Android applications. With over 30M users, MetaMask offers access to a vast community and extensive user resources. Website | Twitter
Rabby Wallet
Rabby is an open sourced & audited multi-chain cryptocurrency wallet integrated with 50+ public blockchains, and offering a Chrome browser extension, as well as iOS and Android applications. In terms of UX, Rabby offers features that help you understand exactly what you are signing and displays estimated balance change before you sign. Website | Twitter
Token Pocket
TokenPocket is a versatile multi-chain cryptocurrency wallet offering fiat on-ramp services, an extensive dApp store, support for a wide range of blockchain networks, strong user community, as well as offering a hardware cold wallet and MultiSig wallet features. Website | Twitter
Bridges
Bridges enable the movement of assets between blockchains and play a pivotal role in bringing liquidity into the EOS EVM ecosystem, allowing users to interact with dApps on the platform. Liquidity can be bridged from both EOS native, and other EVM ecosystems using a variety of bridges that have been deployed since launch.
EOS EVM Trustless Bridge
The Trustless Bridge is built into the EVM Contract, therefore no trusted third-party operator is required. This trustless bridge facilitates the seamless movement of EOS from the EOS Native chain to the EOS EVM and vice-versa. Users can withdraw EOS directly from an exchange to their EVM account by providing an EVM address in the memo.
“In addition to ensuring that it’s easy for developers from other Solidity environments to launch their projects on the EOS EVM, it was also important that economic value could flow freely between the native and EVM layers. This is where the EVM’s trustless bridge comes into play.”
— EOS EVM Tokenomics Deep Dive
While bridges enable the movement of assets between blockchains, cross-chain swaps specifically facilitate the exchange or swapping of assets across different blockchain networks. This allows users to trade a cryptocurrency or token from one blockchain for another cryptocurrency or token from a different blockchain.
Bridges + Cross-Chain Swaps
The following protocols are both bridges and cross-chain swaps.
Meson.fi
A leading unified stablecoin bridging protocol, Meson leverages Multichain’s USDT (multi bridge) token contract to optimize for cross-chain swaps between 20+ stablecoins on 14+ EVMs & non-EVM chains and layer 2’s, including Ethereum, Polygon, Optimism, Tron, Avalanche, Fantom and many more. This enables a seamless cross-chain experience for stablecoins like USDC, USDT, and BUSD. Website | Twitter
DeFi dApps
The recent release of EOS EVM v0.5 enables the expansion of the Yield+ Liquidity incentive program to DeFi dApps on the EOS EVM. This development is expected to have a significant impact on the Total Value Locked (TVL) on the EOS EVM. With the impressive performance, low fees, and reliability of EOS, the EOS EVM is positioning itself as the preferred blockchain for both DeFi protocols and users. DeFi protocols interested in joining the Yield+ initiative can find detailed information at tokenyield.io.
The EOS EVM ecosystem already boasts several DeFi projects including decentralized exchanges (DEXs), lending and borrowing platforms, stablecoins, yield farming, swaps, and asset management tools and is continuing to expand. Here are some notable DeFi dApps within the EOS EVM ecosystem.
Noah
A cross-chain DeFi platform built on the EOS EVM, offering features such as swap and liquidity market-making. As part of the EOS EVM launch, Noah has been running regular airdrops for community members and liquidity providers. Follow them on Twitter to stay in the loop on future events and activities. Learn how to engage with Noah Swap in the resource below. Website | Twitter
Neutroswap
Neutroswap is an automated market-maker (AMM) built on EOS EVM. It offers low fees for asset swapping and provides attractive rewards for staking and yield farming. Neutroswap emphasizes community involvement and allows users to participate in decision-making through Governance Voting. Its goal is to create a user-friendly platform for decentralized trading, prioritizing affordability and delivering a seamless and rewarding experience. The team has announced it will be releasing Neutroswap V2 containing such features as concentrated liquidity, an xNEUTRO governance token, and a new deflationary mechanism. Website | Twitter
Frogge.finance
The first decentralized exchange on the EOS EVM and a crypto project discovery portal with AMM.
Ave.ai
AVE.AI is a one-stop Web3 trading terminal supporting 60+ chains that aggregates protocols such as Dex, DeFi, Token and NFTs, and is committed to developing a Web3 interactive platform with safer funds, more professional data, and more convenient experience.
Website | Twitter
Data Aggregators
As the EOS EVM ecosystem continues to expand, data aggregators play a vital role in measuring and compiling data for utilization by other dApps. These aggregators offer valuable insights and information. Here are a few prominent examples:
DefiLlama
DefiLlama offers comprehensive and real-time tracking of the DeFi ecosystem, empowering users with valuable insights on total value locked (TVL) and trends, enabling them to stay informed and make informed decisions in the dynamic world of decentralized finance.
GeckoTerminal
A Real-Time DEX Tracker and price charting tool supporting the EOS EVM that allows users to track cryptocurrency prices, and access centralized exchanges’ “Proof of Reserves” data, all in one powerful platform.
Website | Twitter | EOS EVM pools
CMC DEX Scan
CMC DEX Scan allows users to discover and analyze a vast array of decentralized exchanges (DEXs) listed on CoinMarketCap while gaining insights into trading volumes, liquidity, and market trends to make informed decisions in the decentralized trading landscape.
Website
Explore the EOS EVM Ecosystem Today!
The EOS EVM ecosystem has witnessed tremendous organic growth since its launch, with dApps, bridges, and wallets beginning to flourish. For a broader look at the many projects building within the ecosystem, including both EOS EVM and EOS Native, please visit the EOS Ecosystem page. To have your project included on the ecosystem page, go ahead and fill out the intake form.
Interested In Building On EOS?
Explore the ENF funding page and consider participating in the upcoming season of Pomelo which boasts a $65,000 EVM matching pool. EOS EVM Developer documentation is available HERE.
Watch this recent webinar with the ENF’s Head of Developer Relations, Nathan James, ENF Senior Engineer Matias Romeo, and Zaisan CPO, Adam Bouktila: HOW TO SUPERCHARGE YOUR ETHEREUM DAPPS: Introducing EOS EVM where you’ll learn how the EOS EVM is revolutionizing the Web3 space and what steps you can take to get started building on this innovative piece of infrastructure
Already building in the EOS Ecosystem?
Whether your project is built on EOS EVM or EOS Native, Submit your project details here to be considered for inclusion on the EOS Ecosystem page!
Deploy on EOS EVM and Qualify for Up to $50K
As we move forward, the EOS Network is committed to fostering collaboration and innovation across networks. With the launch of the EOS EVM and the exciting new markets it opens, we are uniquely positioned to empower participants in the Web3 era. We invite projects interested in developing on the EOS EVM to seize this opportunity and make a lasting impact.
Fill out the form and explore the potential to receive up to $50,000* in Incentives, along with Marketing & Dev Support for qualifying projects. *terms and conditions apply.
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 EVM
The EOS EVM is an emulation of the Ethereum EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
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.
