In what has arguably been the EOS ecosystem’s most bullish week of developments in all its history; this past week has seen tremendous steps taken towards the cementation of a solid support structure for EOS this year.
Developments from this past week also provide a roadmap of EOS’ expansion across other ecosystems in the blockchain ecosystem. In addition, they also relay EOS’ expansion in the traditional arena and how it aims to gain a larger market share by onboarding new users into the industry through its own ecosystem.
With these developments further showcasing EOS’ multifaceted approach towards a strong industry dominance, their swift and decisive executions will determine whether or not the EOS ecosystem manages to thrive. Let’s take a look at the reassuring efforts from this past week.
Yield+, an initiative designed to increase opportunities for dApp developers to be rewarded and EOS users to earn yield on the EOS mainnet, has published its latest report. The biggest development in this past month has been the requirement for protocols to go through a code audit in order to be eligible for rewards.
The report outlines the status and progress of the Yield+ initiative, especially as it relates to the total value locked (TVL) on the EOS mainnet. The current progress of EOS ’ TVL is compared to other blockchain ecosystems such as Ethereum, Binance Smart Chain, Solana etc. In March 2023, EOS TVL saw a slight increase of 3.3% compared to the previous month. With 14 registered protocols, EOS TVL on Yield+ currently sits at just shy of $33 million.
Read the full report - March 2023 Yield+ Report
It may have been slightly overshadowed by all the other announcements from this past week but the announcement of a partnership between the EOS Network Foundation and InvestHK was a huge development. Building to be the next leading Fintech hub on the global stage, Hong Kong has been taking steps to introduce and promote the blockchain and cryptocurrency industries.
As a department of the Hong Kong government responsible for Foreign Direct Investment, InvestHK will help the EOS Network Foundation (ENF) to set up and expand its operations in Hong Kong. This partnership will result in millions of dollars in investments, support, and subsidies being made available for blockchain/Web3 developers in Hong Kong.
Read our full coverage of the announcement - EOS Network Foundation Establishes Partnership with the Hong Kong Government
Ahead of the launch of the EOS EVM mainnet launch the EOS Network Foundation (ENF) made a surprising yet exciting announcement. The announcement was about its newly inked deal for a strategic partnership with leading crypto investment firm, DWF Labs. In the words of DWF Labs’ Managing Partner, Andrei Grachev, this partnership will see his firm and the ENF ‘push the blockchain community to build on EOS’.
The deal, worth $60 million, is easily EOS’ largest injection of capital from an outside source. In its five years of operations, this is also DWF Labs’ single largest investment into a blockchain and/or crypto project to date. A significant action that both parties believe is DWF Labs’ show of faith in the EOS project and also the firm’s commitment towards its growth and success.
Read our full coverage of the announcement - EOS Network Foundation Inks $60 million Strategic Partnership with DWF Labs
The most anticipated event of the year within the EOS ecosystem – the launch of the EOS EVM – reached a major milestone as it launched its beta on the EOS mainnet this past week. The beta is currently in version 0.4, and will continue to be improved and upgraded until it is ready for a full product launch in the coming months.
Blockchain developers, users, and businesses now have a highly performant environment on which to build, test, and deploy their projects. With EOS EVM, any application built using the Solidity (Ethereum and EVM) programming language can now be ported over to the EOS network for greater performance, lower fees, and higher scalability. A win for all participants of the blockchain industry.
Read our full coverage of the announcement - EOS EVM Beta Goes Live on Mainnet!
Recipient of an $850,000 ENF Grant, HyphaDAO, is finally close to the launch of its “Organization-in-a-box”, a solution that unlocks advanced DAO features for any organization. HyphaDAO’s suite of innovative tools will make it easy to set up organizational structures, enable decentralized and inclusive decision-making, automate payroll processes, and motivate and reward members via a radical new token system.
The Beta Program for the launch of this “Organization-in-a-box” will soon launch on the EOS blockchain and in anticipation of the launch a waitlist has opened up for anyone interested in testing out this suite of tools. HyphaDAO also points out the huge potential in organizations (DAOs) from the Ethereum ecosystem porting over to the EOS blockchain in order to leverage this cutting-edge DAO platform.
Read the announcement - Hypha DAO: Empowering Web3 Innovators on EOS
As of writing EOS is trading at $1.22 (up from last week’s price of $1.19). It is currently doing $110 million in daily trading volume, and its market cap sits at $1.3 Billion. This week sees EOS two spots to 44th position by market cap rankings. All stats are based on CoinMarketCap data.
● [HyphaDAO opens up it waitlist](