Share this article
EOS Blockchain Plans Second Innings Ahead of April’s EVM Launch
The EOS Foundation will grant funds to EOS-based applications, among other steps, as the platform gears for a “new life.”
Updated Mar 6, 2023, 3:34 p.m. Published Mar 6, 2023, 7:11 a.m.
Make us preferred on Google
A blockchain that raised $4 billion in its initial coin offering (ICO) with little to show in its early years is aiming for crypto glory once again – years after almost being written off by skeptics.
EOS, whose native tokens once reached a market capitalization of $14 billion at a lifetime peak, is gearing up for a complete resurgence in network activity and growth with extensive support planned for application developers.
STORY CONTINUES BELOW
That is thanks to the efforts of EOS Network Foundation, whose CEO, Yves La Rose, is leading plans for a consensus mechanism upgrade, an Ethereum Virtual Machine (EVM) system and an overall renewed growth strategy, per crypto research firm Messari.
The EVM mainnet is slated for April 14 release, with updates and improvements planned in the weeks and months to follow.
“Combining the performance of EOS with the familiarity of Ethereum, Solidity developers are in for a treat,” Rose tweeted last week. “At 800+ swaps per second, $EOS EVM will be BY FAR the fastest EVM, benchmarked 3x faster than Solana + BNB and 25x faster than Avax.”
On April 14th, #EOS EVM will launch!
— Yves La Rose (@BigBeardSamurai) March 1, 2023
Combining the performance of EOS with the familiarity of Ethereum, Solidity developers are in for a treat.
At 800+ swaps per second, $EOS EVM will be BY FAR the fastest EVM, benchmarked 3x faster than Solana + BNB and 25x faster than Avax. pic.twitter.com/JxYtcbLiTE
EVMs refer to the environment in which all Ethereum accounts and smart contracts live, serving as a virtual computer utilized by developers for creating decentralized applications (dapps). When deployed on other blockchains, EVMs can allow developers to build dapps and decentralized finance (DeFi) applications similar to how they would on Ethereum.
EVMs are a large part of EOS’ future plans.
“Many of the developers who have left EOS have done so not because they want to, but because Ethereum, for all its deficiencies, is where the action is,” the foundation said in a January post.
“EVM compatibility is essential to the potential of EOS, not just technically but also from a business perspective. Ultimately, it is essential that we welcome more Solidity developers and users to EOS, and an EVM on EOS is an excellent bridge to do just that,” it added at the time.
A grants program will fund developers working on such applications, starting from $10,000 to over $50,000 based on criterias such as the size and scope of the initiative. Grants can be provided to builders of wholly new products, or to fund maintenance and upgrades of existing tools.
EOS tokens and ecosystem to benefit
Network upgrades, grant programs and interoperability with other blockchains could ultimately bolster eos token prices and the $125 million in total locked value (TVL) on EOS-based DeFi applications.
The tokens trade just over $1.20 in Asian morning hours on Monday, down 10 cents from Friday. Price-chart analysis suggests resistance at $1.80 if the tokens jump in the coming weeks, with another major resistance at $2.90.
As such, TVL has already increased $50 million since the start of this year in the leadup to April’s EVM launch. Applications such as EOS REX and Vigor, both lending protocols, have added more than 8% in lock value in the past week alone.
Per Messari, the network is averaging 1.3 million daily transactions and 38,000 daily active addresses on a year-to-date basis and averaging 1,785 new addresses per day.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Ethereum Foundation makes post quantum security a top priority as new team forms
EF researcher Justin Drake says a new post-quantum team will drive wallet safety upgrades, research prizes and test networks as quantum timelines shorten.
What to know:
- The Ethereum Foundation has elevated post-quantum security to a top strategic priority, forming a dedicated Post Quantum team led by Thomas Coratger with support from leanVM cryptographer Emile.
- Researcher Justin Drake said Ethereum is shifting from background research to active engineering, including biweekly developer sessions on post-quantum transactions and multi-client post-quantum consensus test networks.
- The foundation is backing new cryptography with funding and outreach, launching two $1 million prizes, planning post-quantum community events and education, and stressing that blockchains must prepare early for quantum threats despite their long-term nature.
Top Stories
