Evmos Plans to Introduce ERC-20 Compatibility for Cosmos Tokens

18/11/2023 04:03

Evmos, the Layer 1 blockchain, is developing a software mechanism to make Cosmos tokens compatible with ERC-20. This integration will allow Cosmos tokens that do not meet the ERC-20 standard to be used directly in dapps on the Evmos EVM, removing the need for token wrapping and addressing technical issues on the network. The aim is to enable users, wallets, and developers to onboard all Cosmos native assets seamlessly without having to change their preferred tools or execute transactions to wrap or unwrap tokens. The mainnet release of this mechanism is expected by the end of the year, introducing a unified token model for Evmos that supports both native and ERC-20 tokens. Cosmos tokens currently lack ERC-20 support, which the Evmos team plans to resolve with an "ERC-20 Extension" software module that will consolidate ERC-20 and native Cosmos token formats into a single interface for developers. The feature will be rolled out soon on the Evmos testnet, with the mainnet launch planned for later this year. Read more AI-generated news on: https://app.chaingpt.org/news

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Evmos Plans to Introduce ERC-20 Compatibility for Cosmos Tokens

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