KaspaEVM Announces on X.com Progress on Sidechain, Seeks Funding Partner for Development
The KaspaEVM project, a proposed EVM-compatible smart contract sidechain for the Kaspa blockchain, has reached a significant milestone as its development team, DeFiDevShop, has released an initial roadmap outlining the project’s completion stages and mainnet deployment.
The KaspaEVM project aims to introduce a highly efficient and secure smart contract platform, enabling Kaspa users to engage in DeFi, NFTs, and other blockchain applications. The development team has emphasized that the success of the project hinges on securing funding, with the Kaspa Ecosystem Fund (KEF) currently evaluating the proposal as a potential candidate for support.
In a recent update, DeFiDevShop confirmed that their team is ready to begin development as soon as confirmation is received for Phases 1 and 2 of the project. The team also promised regular updates to keep the Kaspa community informed, stressing their commitment to transparency throughout the process.
Funding and Development Outlook
DeFiDevShop, the team behind Wise Token and Wise Lending, has experience in building DeFi solutions, boasting over $50 million in liquidity in its Uniswap V2 pool. Their Wise Lending platform has also secured major partnerships, including a multi-million-dollar commitment from KiiChain. The team is now actively seeking a funding partner to kickstart KaspaEVM’s development, with KEF as a potential backer. However, they acknowledge that the KEF review process could take time and nothing is guaranteed at this stage.
Beyond KEF, DeFiDevShop has stated that they are open to partnerships from other funding entities and have expressed willingness to engage with community-driven initiatives to bring KaspaEVM to life. As a registered American LLC, the team has also assured that they can enter into legally binding agreements to deliver on the project as promised.
What This Means for the Kaspa Community
The introduction of an EVM-compatible smart contract sidechain would represent a major expansion for Kaspa, allowing developers to deploy Ethereum-based applications while benefiting from Kaspa’s high-speed, DAG-based architecture. If successfully developed and deployed, KaspaEVM could position Kaspa as a competitive player in the DeFi and NFT sectors, opening the door to a broader ecosystem of decentralized applications (dApps).
For now, the Kaspa community is encouraged to review the full roadmap available on GitBook and engage with the project by providing feedback, asking questions, and spreading awareness. The development team has committed to keeping the community informed through future announcements.
More details regarding KaspaEVM’s funding, development timeline, and partnerships are expected to be revealed soon as discussions with potential backers progress.
