IOST Unveils a Cross-Chain Bridge to BSC via a Strategic Partnership with KokomoSwap
31 August 2021, IOST is thrilled to announce a strategic partnership with Binance Smart Chain-based AMM (automated market maker) DEX(decentralized exchange)- KokomoSwap.
The Quest for Blockchain Interoperability Continues
There are increasingly more calls for blockchain interoperability, and IOST strategically positions itself for an interconnected future. In 2020, IOST partnered with Waves’ Gravity Protocol — an interoperable oracle and communication network, for cross-chain functionality. In May 2021, IOST and Polkadot joined hands to build a cross-chain bridge.
The quest for interoperability continues to move forward. The cross-chain bridge, being developed by the KokomoSwap team, will enable interoperability across IOST and BSC, allowing the transfer of tokens (assets) to-and-fro from two networks and easier access to BSC from IOST or vice versa. The completed cross-chain bridge will mark a monumental moment as it will link two ecosystems with a combined of 2.5 million mainnet users, furthering the shared objective of growing blockchain adoption.
KokomoSwap Joins As an IOST’s Servi Node
On top of the business alliance, Kokomoswap is now a registered Servi node of the IOST chain, ‘full’ node that stores the full transaction history of the IOST blockchain, produces blocks, and validates transactions.
As KokomoSwap develops the bridge, voting is significant in terms of block production and its reward. Early-bird voters will randomly receive $iKOKOMO that can be converted to $KOKOMO when the bridge is launched. In addition, the team will plan more incentive programs for voters as KokomoSwap expands its business in the IOST network.
Since KokomoSwap is a community-driven protocol, the team will buy back $KOKOMO with voting rewards for the upwards price pressure of the native token, which brings a tangible value to the users.
“The strategic partnership with KokomoSwap is an anchor for inter-chain use cases and DeFi–which remains under-explored despite its potency. Onboarding KokomoSwap as a Servi Node also further extends the IOST network’s decentralization component and adds more values and opportunities for our users. In the near future, IOST will collaborate with more leading projects to accelerate our ecosystem’s growth.”- IOST CMO- Blake Jeong highlights
“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.”- KokomoSwap Team
KokomoSwap is a Binance Smart Chain-based AMM DEX designed to facilitate the seamless transaction of crypto assets in a fun-filled and profitable manner.
The existing methods of trading crypto provide a limited investment experience to holders. KokomoSwap aims to improve the overall user experience by removing the barriers investors face with current crypto trading methods. With KokomoSwap, Crypto investors can maximize the usability of their assets.
Most crypto investors use centralized exchanges that provide an optimized environment for frequent-transact traders (chart, order book, price, and others). However, this environment exposes long-term holders to stresses from the 24/7 price fluctuation of their trusted assets, making them unaware of the actual value of their assets. As a result, many people overtrade and incur losses, even during bull markets.
KokomoSwap plans to provide users with liquidity provision, farming, and community-driven token burns in order to maximize investor assets’ value.
KokomoSwap’s other goal is to overcome the current limitations of decentralized exchanges. KokomoSwap prioritizes community building and will seek to satisfy the needs of various crypto users by constantly engaging with their evolving ecosystem.
KokomoSwap allows its users to trade crypto and to grow assets in an easy and fun way. It runs on Binance Smart Chain and now connects to IOST to benefit from faster and lower transaction fees and it provides a refined user experience for both heavy-crypto users and beginners. We want our users to leverage their existing assets to generate additional profits seamlessly (With KokomoSwap, investors get to rest while their crypto assets work for them!).
Moreover, KokomoSwap users and the community can contribute to the ecosystem through various activities with minimal effort. KokomoSwap is designed to be hassle-free and fun to use for everyone. This is why the project is named the Kokomo, a magical island where you can chill and relax. 🏝🍹
Disclaimer: Third-party developers develop all IOST DApps. The information provided here does not constitute any investment advice. All content provided here is intended for education only. IOST bears no responsibility or liability for any loss which players may experience. Please get in touch with the DApp team directly for any questions.
High fees and slower transaction times on the Ethereum network have left the door open for new solutions to emerge, and IOST is one such project that has been gaining traction since its mainnet launch in 2019.
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all. For this, the concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than Ethereum, EOS, and every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability to roll out a better, innovative product and reflective of our true desire to be the best in the sphere.
Being one of the public chain leaders in terms of adoption, performance, and utility, IOST remains committed to our mission to unleash the power of blockchain. IOST currently has the ever-expanding 500,000 community members in over 20 countries, over 400 nodes, a top staking economy, symbiotic relationships with corporations dotted worldwide.
If you would like to hang out with the IOST community on chat, social media, or to discuss product development, we have something for everyone: