A new crypto frontier beckons: lawless, full of scammers, and fraught with danger. But there are also endless opportunities for those brave enough to holster-up and ride west to Evmos, crypto’s newest blockchain.

When blockchains launch there is a window of opportunity. A time when, if you’ve got the guts, the skill and tenacity, you’ll have a high chance of making hefty profits like the pioneers and miners who went in search of oil and gold. During this period of time, the lay of the land is new and unknown, plenty of people are there, but few are able to identify the real prospects from the scams.

Like other Layer 2 solutions such as Arbitrum and Polygon, Evmos can draw the masses. It lays the track for the railroad of liquidity that is Ethereum, into Cosmos territory, where demand for applications is rising. Evmos is not the only connection between Cosmos and Ethereum, but it uses the language of Ethereum. This means it can onboard developers, existing applications and liquidity into Cosmos like nothing else. Think there’s gold in them thar hills?

I drink your milkshake.

So let’s get started on our journey, which begins with adding the Evmos chain to your Metamask wallet. If you haven’t already, you’ll need to install Metamask and safely store the wallet’s security details.

The easiest way to add the Evmos network to Metamask is to go here. Once there, search for Evmos in the ‘search networks’ box at the top right. You should find that other networks are filtered out leaving just Evmos displayed. It has a chain ID of 9001, and EVMOS as the currency. Click on ‘connect wallet’, and Metamask will open up and ask you for a couple of permissions. Feel free to click through, no harm can be done here.

Now, let’s load up your wagon with some ‘dynamite’ for the journey. This means ‘bridging’ funds from one network to another.

As not everyone is familiar with the process of using bridges, I’ll go over it. In crypto, bridges connect blockchains together, allowing funds to flow back and forth. This is like real life where bridges connect separate bits of land, allowing traffic to cross back and forth.

Upgrading to first class had seemed too expensive at the time.

There are two bridges already connected to Evmos and that are well-established, meaning they should be reasonably safe to use—Celer’s cBridge and Multichain. In my case, I will use Multichain, but both bridges work in the same way.

  • Select a network the funds will be sent from – for example, Ethereum, BNB Chain, etc…
  • Select the network the funds will be sent to – Evmos.
  • Select the coin that you want to transfer, such as ETH, USDC, or USDT
  • Select the amount that you want to transfer. 
  • Check the details carefully, including transfer time and cost, click send, and confirm the transactions in your Metamask wallet.

Note the ‘Reminder’ just above the swap section, as well as the fact that you can also send one coin and receive another, effectively swapping as you bridge.

When it comes to selecting the coin that you want to transfer, check if the application you want to use on the destination chain works with it. Evmos has good compatibility with Ethereum, so many coins can be transferred. If I would do it, I’d go with a stablecoin such as USDT, USDC, or FRAX. Many applications on Evmos already look like they’re going to be using these coins. ETH would be another good choice.

You’ll also need to get yourself some EVMOS tokens to pay for transactions on the network, which are very cheap. There are three possible ways to do so:

Firstly, you can purchase it from Digifinex, this is currently the only exchange where the token is listed. Bear in mind that you’ll need to sign up and possibly complete a KYC check, and then withdraw the EVMOS.

Secondly, you may qualify for an airdrop, check here to find out.

Thirdly, if neither of the above work for you, and you subscribe to Radar, we’ll give you just enough to complete your first transaction (swap something for more EVMOS to pay for further transactions). Just contact us in the Discord and we’ll get to you as quickly as possible.

If you can’t get any EVMOS through any of the above methods, I’d advise you to wait. Currently, there isn’t a faucet on the network that will give you a small amount for free.

OG Radar subscribers hard at work in the 1800s

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Next week we’ll cover the process of using tools to explore the network for those deposits of gold, like prospectors!

Keep panning

Disclosure: At the time of writing, the author held several cryptocurrencies not mentioned in this report. Read our trading policy to see how SIMETRI protects its members against insider trading.