The report discusses the performance of EOS, a Delegated Proof-of-Stake (DPoS) Layer-1 blockchain, in Q2 2023. EOS EVM, an EVM execution environment deployed as a smart contract on EOS native, launched in mid-April and has accumulated over $1 million in TVL and averaged 5,100 daily transactions. The market cap of EOS decreased 43% QoQ to $740 million, dropping its market cap rank from 42nd to 49th. The most popular dapp by active addresses was Upland, a virtual property game. Ecosystem growth initiatives have been targeting GameFi and EVM-based projects. The EOS Network Foundation announced that the EOS native consensus upgrade bringing near-instant finality is estimated to launch in Q4’23.
- Monitor the performance of EOS EVM: Since its launch in mid-April, EOS EVM has shown promising growth with over $1 million in TVL and an average of 5,100 daily transactions. Stakeholders should keep an eye on its performance.
- Consider the impact of market trends on EOS: EOS’s market cap decreased significantly in Q2 2023, which seems to be more influenced by external market events than EOS fundamentals. Stakeholders should consider these market trends when making decisions.
- Pay attention to the popularity of dapps: Upland was the most popular dapp by active addresses in Q2 2023. Stakeholders should consider the popularity of such dapps when evaluating the EOS ecosystem.
- Prepare for the EOS native consensus upgrade: The EOS Network Foundation announced that the EOS native consensus upgrade bringing near-instant finality is estimated to launch in Q4’23. This could have significant implications for the EOS ecosystem.