Successful Ink Cross-chain Internal Testing Enables QRC20-ERC20 Token Transfer
Ink has completed internal testing of the cross-chain protocol and successfully transferred 41.15% of total INK tokens from QRC 20 to ERC 20 through INKchain. The cross-chain token transfer will be officially launched on exchanges soon. Stay tuned for the updates!
Successful Internal Testing Enables Token Cross-chain Transfer
Ink Cross-chain Protocol has made a breakthrough. Recently, Ink team conducted internal testing for token cross-chain transfer, and successfully realized the QRC20-ERC20 token cross-chain transfer through INKchain.
The total supply of INK is one billion. During this internal testing, 41.15% of total INK tokens were transferred cross chain. These INKs are all locked tokens which are distributed for content ecosystem incentives, community construction, founding team and early contributors.
Ps: INK strictly follows the token distribution plan. There are 150 million (15%) distributed for content ecosystem incentive, and another 15% for community constructions, among them 7.85% have been consumed for developing IP partnership, building up the INK community and ecosystem, etc. Therefore, the two parts currently hold about 22.15% of total supply.
Ink team holds 20% of total INK tokens, of them 1% have been unlocked and distributed as awards for the founding team and early contributors. Therefore, there were 41.15% of total INK tokens transferred during the internal testing. For more details about the token distribution, please refer to Ink’s fiscal year report.
Cross-chain Transfer on Exchanges
Ink has enabled the transfer between same tokens with QRC-20 and ERC-20 standards, and simultaneously remained the total supply unchanged. In the future, INKchain will also provide cross-chain support for other public chains.
Initially, Qtum, Ethereum, and INKchain each issued one billion INK tokens, while only INK tokens on Qtum were in circulation. The INK tokens based on other blockchains were all locked within the XC smart contract. During this internal testing, part of the INK tokens based on QRC-20 standard were locked into the XC contract, and the equal amount of INK tokens based on Ethereum became circulating.
In order to make INK and IP tokens more widely accepted, Ink will soon start INK QRC20-ERC20 token transfer on exchanges. Investors can follow Operation Guide to perform cross-chain token transfer on the partnered exchange platforms.
In addition, Ink will launch its bidirectional cross-chain token exchange app on website. Stay tuned!
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