- EOS Network Foundation announces launch of EOS EVM v0.50, first major update of EOS EVM.
- The update will enable new yield farming opportunities for DeFi investors.
- EOS EVM v0.50 also includes other updates set to make EOS more optimized for DeFi.
In what could be the biggest EOS news this week, the community is celebrating yet another milestone for the blockchain network – the release of EOS EVM v0.5.0.
On Wednesday, the EOS Network Foundation (ENF) announced the release had reached code completion today, revealing new liquidity benefits for the ecosystem via the integration of Yield+ Liquidity.
EOS EVM v0.50 also includes key updates on network optimization and improvements to user experience for EOS’ developer community.
First major update to EOS EVM
V0.50 is the first major EOS EVM version since the EOS Network Foundation, the lead developers of EOS (EOS), launched the EOS Ethereum Virtual Machine mainnet. The beta launch went live in mid-April, around the same time as Ethereum 2.0 activated the highly anticipated Shapella upgrade.
The EOS EVM for Solidity developers enabled interoperability between EOS and Ethereum and marked an important step for further growth of the EOS network.
EOS EVM v0.50 brings Yield+ Liquidity to ecosystem
With EOS EVM v0.50, DeFi traders can now access more dApps and tap into new yield farming opportunities.
Yield+ brings a liquidity rewards program that will not only attract more DeFi dApps to EOS, but also help increase the Total Value Locked (TVL). The program was unveiled in August and sees dApps rewarded in tokens, with this based on the total value of deposits they bring into the EOS ecosystem.
Per details on DeFiLlama, EOS currently has $98 million in TVL, a tiny portion of the $27 billion in TVL on Ethereum.
What are the other key updates of EOS EVM v0.50?
Apart from Yield+, EOS EVM has also introduced several updates on optimization, performance and user experience. The updates include read-only transaction execution support, removal of advanced execution, updated “inevm” table and modification to the withdraw action.
The ENF says code completion for the EOS EVM v0.50 also now allows EOS engineers to strategize for a testnet for the smart contract upgrade. This testnet is currently in development and will pave the way for mainnet deployment.
A roadmap highlighting upcoming key milestones for EOS will also be released soon, with developers, dApps and DeFi investors all likely to benefit immensely from new capabilities and opportunities.