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The community of EOS EVM is getting closer to its first major upgrade since the much-anticipated mainnet release. The upgrade EOS EVM v0.5.0 is set to bring liquidity mining instruments and fix a number of minor bugs disclosed by testers.
EOS EVM v0.5.0 kicks off in mainnet: What changes?
According to the official announcement shared by the EOS Foundation, its EOS EVM platform, a resource-efficient version of Ethereum Virtual Machine that is running on EOS smart contracts, receives v0.5.0 upgrade. It is designed to enable yield opportunities for dApps that are ready to build on EOS EVM.
📣 EOS EVM Update 📣#EOS EVM v0.5.0 just reached code completion and will be going live on mainnet soon 🚀
— EOS Network Foundation (@EOSnFoundation) May 31, 2023
This release, brings the Yield+ Liquidity incentive program to DeFi dApps on the $EOS EVM and enables key technical updates 🛠️
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Namely, it signals the integration of Yield+, a decentralized liquidity rewards program designed to bring more decentralized applications (dApps) of all types to EOS EVM and advance the total value locked (TVL) in its ecosystem. In order to broaden their audiences, developers can launch their own incentive programs with lucrative bonuses.
The team of EOS Foundation highlights that Yield+ launch has all the chances to be among the most crucial milestones in terms of bringing liquidity from "regular" EVM networks to EOS EVM:
With the majority of industry DeFi programs being built on the EVM standard, it was critical that this program also be made available to dApps on the EOS EVM. The launch of EOS EVM v0.5 makes this possible and will play a major part in increasing TVL on the EOS EVM.
In order to integrate Yield+ properly, the team of EOS Foundation added read-only transaction execution support to its mainnet EVM contract.
New incentive programs for developers
Other upgrades for the upcoming release are more about the technical design of EOS EVM implementation. Namely, developers reconsidered data logics and advanced several op-codes for better performance.
Also, the EOS EVM contract will be rejecting any non-EOS tokens that are sent to it, including U.S. Dollar Tether (USDT). As a reminder, the trustless bridge does not yet support any tokens other than EOS.
Last but not least, in May 2023, a number of rewards programs for developers interested in leveraging EOS EVM resources was started. Pomelo platform recently announced a $65,000 rewards pool dedicated only to cryptocurrency projects developing on the EOS EVM.
As covered by U.Today previously, the launch of EOS EVM in mainnet was among the most anticipated milestones for the EOS community in recent months.