The Next Gen Ethereum Virtual Machine (EVM) Hub on Cosmos
The Rektdrop is going to be novel in several ways:
By emphasizing usage, we increase fairness and decrease the likelihood of sybils making more in the network.
The end goal of Evmos is to bring together the Cosmos and Ethereum community and thus the Rektdrop has been designed to reward past participation in both networks under this theme of “getting rekt”.
Recipients of the Evmos Rektdrop will be able to claim their tokens once the network goes live mid-January 2022. November 25th, 2021 at 19:00 UTC will mark the snapshot for all the below criteria. This date was not only Thanksgiving, but it was also the genesis timestamp of the Olympus Mons incentivized testnet and its Martian Moon Missions. As such, we thought it was fair to give thanks based on this day.
The Rektdrop eligibility requirements have been designed to reward active users of the Cosmos and Ethereum ecosystems, but also make up for the year of the rekt. We have also outlined distributions to key organizations and individuals who have been critical to the development of Evmos, since they sacrificed time watching the markets to help move the space forward.
The more actions you have completed, the more tokens you are eligible for. Some categories will be weighted more than others. Please note that we haven’t finalized the exact weights for each category. Weights are being tuned to ensure fair distributions for the network. We will be releasing our reproducible process as part of maximizing the integrity of the Rektdrop and to share a guide for the community.
Cosmos Hub Users:
Ethereum Gasdrop: Ethereum sparked a revolution in crypto by making smart contracts widely accessible to developers and users. As we prioritize expanding the capabilities of the Ethereum Virtual Machine (EVM), we want to thank the early adopters and active experimenters for making it all possible. We have selected a handful of decentralized applications on Ethereum based on activity (gas guzzlers) and TVL (total value locked). Users will be rewarded based on their usage of these apps proportional to their gas expenditure. To ensure that well-written, gas-optimized applications that were used more frequently don’t get less than poorly optimized gas-guzzlers, we will likely be capping distribution for each contract.
EVM Bridges: Bridges are critical to the movement of funds between chains that don’t have IBC enabled. We have chosen to reward those that have used the following bridges which support other protocols that are interesting in the ecosystem. These are gas heavy, so we sympathize with the users who had to go through the pain of using them.
The Rugged: Web3 is going just great. Maybe not for everyone though. We want to pay it forward by giving back to the users that were affected by negative externalities, exploits or rugs that might’ve cost them significantly. This is a selection of events on Ethereum, but we’re also including those affected by the THORChain exploits, as it is the first chain on Cosmos to get rekt.
Early Individual Contributors: Evmos has been a huge team effort that goes far beyond the resources of the Tharsis team. These contributors have doubled down on working on core things for the ecosystem but we felt they deserved more for their valuable work. The list includes teams that work on upstream dependencies such as Cosmos SDK, Tendermint, and IBC core, early contributors to the Ethermint library, Orijtech, and many individuals along the way who have made a significant impact to our project.
While we have yet to define the specifics of the amount of tokens recipients will be entitled to, there will be limits that could disqualify them such as:
As we get closer to mainnet, we will release more details and tools for the Rektdrop to make it possible for you to look up how much you are entitled to. In the meantime, stay tuned for details about the Evmos Token economics as well as exciting partners that we are bringing to support the network’s growth.