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Key Takeaways
- The release of EOS EVM v0.5.0 is one of the most important milestones and shows how fast the EOS Network has evolved since the Eos Network Foundation Launch.
- Yield+ is a token reward program that will attract DeFi dApps to the EOS ecosystem and increase TVL.
- EOS engineers continue to plan the EOS EVM Deployment Strategy.
EOS EVM v0.5.0 finished the code completion phase this week and will be activated on the main net soon. This development, essential to the EOS community, is considered the biggest release after the main net. Less than seven weeks after the launch of the EOS EVM main net, this release demonstrates how quickly the EOS network has been developing since the launch of the EOS Network Foundation.
The protocol's Yield+ Liquidity program is the main update on the EOS EVM side. This brings liquidity advantages to dApps on the EOS EVM and offers new opportunities for yield farming to DeFi traders within the EOS ecosystem.
A Brief Summary of EOS EVM v0.5
Version 0.5.0 brings several improvements to the performance and user experience of the EOS EVM ecosystem. The biggest of these improvements is the addition of Yield+ to the EOS EVM. Yield+ is a token reward program that will attract DeFi dApps to the EOS ecosystem and increase TVL. This program was implemented on August 28 and continues successfully.
The vast majority of industry programs are built with the EVM standard, so it is crucial that DeFi programs be available to dApps in the EOS EVM. The release of EOS EVM v0.5.0 will increase the number of dApps and TVL in the ecosystem. The data of the EOS ecosystem is also an indicator of the right choice of users. DeFi protocols that will participate in Yield+ can access detailed information from tokenyield.io.
Apart from Yield+, other updates also mean a lot to developers that include:
- Adding read-only transaction execution support to the EVM contract, a necessary component for Yield+ integration with the EOS EVM.
- Removing advanced execution to increase nested call level, thus enabling contract use cases that may have been rejected before.
- The “inevm” table now shows up in the ABI, which should allow for easy exploration of the total sum of the EOS balances within the EVM environment using an EOS block explorer.
- The withdraw action has been modified to take an optional extra argument called “to”.
- The EOS EVM Contract will now reject any non-EOS tokens that are sent to it, e.g. USDT. As a reminder, the trustless bridge does not yet support any tokens other than EOS.
- A more descriptive error message is now returned if validation of a pushed EVM transaction fails.
- A bug in the history index of EOS EVM Node was fixed & additional bugs in EOS EVM RPC were fixed.
- Configurable permission enabled in tx_wrapper.
EOS EVM v0.5.0 Deployment Strategy
EOS EVM v0.5.0 is ready, with the code completion achieved this week. EOS engineers are carefully planning the smart contract upgrade. The testnet upgrade is currently in progress and will move to mainnet deployment once it goes smoothly.
Bottom Line: EOS EVM Reforms Starting Now
EOS engineers continue to work without slowing down. Completing the code writing was one of the most critical milestones among all the works and was completed successfully. The Yield+ program is a significant milestone in increasing DeFi dApps in the EOS EVM and TVL in the ecosystem.
Many exciting news await the EOS community in the coming months. Yield+ and its accompanying updates are the first of these news. A detailed roadmap for future updates of EOS EVM will be published soon.
It is time for an excellent opportunity for developers, dApps, and other Web3 projects to build on EOS. Pomelo has just announced Season 6, which delivers a reward pool of $158,000 for projects that contribute to the public good on EOS. Specifically, a dedicated pool of $65,000 for projects developing on the EOS EVM exists.
The resources below contain all the information you need about the EOS EVM.
EOS EVM Mainnet Announcement
EOS EVM Architecture Deep Dive
EOS EVM Tokenomics Deep Dive
EOS EVM Documentation
EOS EVM Engineers Podcast
EOS EVM Webinar
Yield+ Portal
Recover+ Portal
To stay informed about all updates in the ecosystem, be sure to follow the EOS Network Foundation on Twitter and join the EOS Community Discord.
Conclusion
the release of EOS EVM v0.5.0 marks a significant milestone in the development of the EOS Network. This latest update demonstrates the remarkable progress made since the launch of the EOS Network Foundation, highlighting the network's agility and commitment to innovation. With the completion of the code and imminent activation on the main net, EOS EVM v0.5.0 promises enhanced performance and a more seamless user experience within the EOS EVM ecosystem.
One of the standout features of this release is the introduction of the Yield+ token reward program. This program brings a new level of liquidity and opens up exciting opportunities for DeFi traders and dApps operating within the EOS ecosystem. By attracting more DeFi projects and increasing Total Value Locked (TVL), Yield+ strengthens the overall ecosystem and positions EOS as a competitive player in the decentralized finance space.