IoTeX announced partnership with QuickSwap

IoTeX announced on Wednesday August 18, through its Twitter account, its new partnership with QuickSwap, to “unleash” IOTX in Polygon.

Image about IoTeX posting on Twitter

“IoTeX is fast becoming the most connected blockchain in the entire industry. Earlier this month, we launched ioTube v5, the cross-chain bridge for two-way token exchanges between IoTeX, Ethereum, Binance Smart Chain (BSC), and Polygon. Today we introduce another important cross chain tool! We present CIOTX (IOTX cross-chain), a new cross-chain version of IOTX that can be directly connected via ioTube to the universe of the blockchain”, he said through an article published on the Medium platform.

The company explained that CIOTX allows IOTX to be bridged and used on other blockchains, such as Polygon (now) and BSC / Ethereum (coming soon).

Similarly, he assured that CIOTX will make direct chain-to-chain transfers possible, unlocking a new utility for IOTX token holders. Note the multiple varieties of the IOTX token that facilitate cross-chain activities using IOTX on Ethereum, BSC, and Polygon:

• IOTX: the native token of the IoTeX network

• CIOTX – Cross-chain IOTX that can be used on Polygon, BSC, and more

• WIOTX: IOTX wrapped which makes it easy to convert from IOTX to ERC20-IOTX

• ERC20-IOTX: the ERC20 version of IOTX on Ethereum

• BSC-Pegged IOTX: the BEP20 version of IOTX on Binance Smart Chain

CIOTX on ioTube

The company indicated that the transfer of IOTX from IoTeX to other blockchains is now seamless thanks to ioTube v5. You will notice a new “Cross-chain IOTX” tab on the ioTube website, where you can easily convert IOTX or WIOTX to CIOTX. Once you have CIOTX, you can enter the “Tube” tab to connect your CIOTX to Polygon from now on.

Also read: SuperRare introduced $RARE healing token

And later?

According to the company, with the introduction of CIOTX, they are preparing to announce new initiatives with major projects in Polygon, BSC and Ethereum for new liquidity provisioning opportunities, yield agriculture and DeFi-based opportunities. “CIOTX will enable frictionless value transfers between IoTeX and major blockchains, unlocking a host of new use cases for IOTX token holders”, he said.

1 comment

Comments are closed.

Related Posts