The Developers of Evmos Raise $27 Million in a Token Sale Led by Polychain

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Last Updated on November 2, 2022 by Bitfinsider

In a token sale round coordinated by Polychain Capital, the Evmos blockchain developers Tharsis raised $27 million at an unknown valuation.

Companies such as Galaxy, Huobi, and HashKey were also present.

Federico Kunze Küllmer, co-founder of Tharsis, said in a statement that the team plans to use the newly raised funds to accelerate the development of decentralized applications within the Evmos network ecosystem.

“As we look to the future, we’re delighted to provide dApp developers with the ideal environment to debut their products by enabling native interoperability and aligning developer incentives with the utilization of their dApps,” said Küllmer.

Evmos, which was released in April, wants to establish itself as a prominent Cosmos-based blockchain that is compatible with Ethereum via Ethereum Virtual Machine (EVM), a processing environment utilized by Ethereum developers. Tharsis expects that EVM will increase the attraction of Evmos to Ethereum developers.

EVM has become the most widely used computing standard for generating smart contracts during the past few years.

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