InvestmentNews

IOST Partners with KokomoSwap to Launch Binance Smart Chain Cross-Chain Bridge

IOST , a high-performance, decentralized smart contract platform, has formed a strategic alliance with Binance Smart Chain-based (BSC) AMM KokomoSwap to promote blockchain interoperability.

IOST joins forces with KokomoSwap

IOST, the premier smart contract platform, has partnered with KokomoSwap, a BSC-based automated market maker (AMM), to meet the growing need for blockchain interoperability solutions.

Notably, the cooperation will let IOST use the KokomoSwap team’s cross-chain bridge, which will allow users to move tokens between the IOST and BSC ecosystems effortlessly.

The successful deployment of the cross-chain bridge will be a watershed moment for both ecosystems, bringing together two fast-growing ecosystems with a combined 2.5 million mainnet users, paving the way for mainstream use of blockchain technology.

IOST Adds KokomoSwap as a Business Node

KokomoSwap is now a registered Servi node of the IOST blockchain, in addition to working with IOST.

For the uninitiated, becoming a Servi node entails servicing the IOST blockchain as a “full” node that maintains the IOST blockchain’s whole transaction history, generates transaction blocks, and verifies transactions.

While KokomoSwap works to complete the cross-chain bridge, it’s worth noting that users can receive attractive incentives for voting on block production.

Early-bird votes will get $iKOKOMO at random, which may be converted to $KOKOMO once the operational cross-chain. In addition, as KokomoSwap continues to grow its ecosystem in the IOST network, the team plans to offer new reward programs for voters.

Furthermore, because KokomoSwap is a community-driven system, the team has promised to purchase back $KOKOMO using voting incentives to keep the underlying currency under pressure.

The strategic relationship with KokomoSwap, according to Blake Jeong, CMO of IOST, provides an anchor for inter-chain use cases and DeFi–which, despite its power, remains under-explored. Furthermore, by adding KokomoSwap as a Servi Node, the IOST network’s decentralization component is extended even further, providing more value and options for its users. IOST will partner with additional outstanding projects in the coming future to help our ecosystem expand faster.

The KokomoSwap team had similar sentiments:

“KokomoSwap considers the partnership with IOST as a very important first step for further collaborations. We look forward to working with a great team, and hopefully, the bridge will bring more value to users as well.”

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button