Evmos Introduces Automatic Token Swap Feature Bridging Cosmos and Ethereum

The latest upgrade of the Evmos blockchain has introduced a new feature for automatic token swapping both within and across the Cosmos ecosystem.

Evmos Adds Automatic Token Swap Feature for Cosmos and Ethereum Compatibility

Evmos is a blockchain project built on the Cosmos ecosystem, designed to be compatible with the Ethereum Virtual Machine (EVM). This integration enables seamless token transfers between the Cosmos and Ethereum blockchains.

Originally, Evmos started as a toolkit within Cosmos aimed at achieving Ethereum compatibility. However, Tharsis Labs, the team behind Evmos, recognized the significant demand from Cosmos-based blockchains for EVM integration. As a result, they decided to rebrand and develop Evmos into a dedicated blockchain for this purpose.

The latest update, version 10.0, announced on January 5, highlights the addition of horizontal scalability through IBC (Inter-Blockchain Communication). This new feature allows tokens originating from Cosmos to be automatically converted to Ethereum-compatible tokens when sent to Ethereum, and vice versa.

This means that moving assets between the two chains is now streamlined into a single transaction, eliminating the need for a separate bridge step for compatible tokens.

However, Evmos notes that this feature is only available for token pairs—spanning Ethereum and Cosmos—that are linked within the Evmos governance system. Tokens not listed will not be supported.

Other improvements in this update include enhanced support for Ledger hardware wallets, allowing users to sign multiple transactions through CLI (Command Line Interface) support.

In November 2022, Evmos successfully raised $27 million through a token sale. Currently, the platform supports a diverse range of projects utilizing its solutions.