FLETA and Tomochain signed a Technical Agreement
FLETA signed a technical agreement with TomoChain, a blockchain platform.
TomoChain is a mainnet platform that has branches in Vietnam, Japan and Singapore. TomoChain launched its mainnet in December 2018, and it was listed on Binance in August 2019. TomoChain has signed partnerships with well-known projects like Neo and Chainlink. Among Korean projects, Moviebloc, also listed on Binance recently, is its partner.
TomoChain enhanced its security through Double Validation, and its consensus mechanism, Proof-of-Stake Voting (PoSV) enables a block-time of 2 seconds and finality within almost 4 seconds. TomoChain provides a suite of crypto payments, exchanges and scaling solutions for businesses.
Through this agreement, FLETA will be connected to the TomoChain network by issuing wrapped FLETA tokens using the TomoZ Protocol — the paid-fee-by-any-token protocol developed by the TomoChain team, allowing the native FLETA coin and its FLETA TRC-21 counterpart to be compatible. As FLETA chain’s capability increases, the FLETA TRC-21 token will have greater uses in the TomoChain ecosystem as well. It indicates that FLETA coins can be used in more diverse areas. Unlike the case of ERC-20 tokens where transaction fees must be paid using Ethereum, transaction fees for sending FLETA TRC-21 can be paid with FLETA TRC-21 itself when operating within TomoChain’s network. And, there is no need to hold TOMO or ETH to pay the fees. Therefore, the chain can provide convenience and be run more autonomously. We are also exploring using FLETA TRC-21 on TomoX, a DEX platform that will be launched in Q2 2020 by TomoChain.
FLETA expects the agreement will broaden FLETA’s market globally and will work as a stepping stone that will lead FLETA to be a representative Asian blockchain project. TomoChain will also expand its market to South Korea to market its services and merits. FLETA and TomoChain will not only enlarge their respective ecosystems, but they also agreed to focus on their common goal, the commercialization of blockchain.
“Forms of interoperability have been discussed at length over the last year, but it’s today in partnering with FLETA Blockchain where we finally have a glimpse into the fundamental value of such an integration. FLETA token holders will continue to benefit from what their core team is developing, and gain access to everything decentralized, everything DeFi that TomoChain is cooking up. This relationship is a key example of potential blockchain synergies provided through integrating with the TomoChain blockchain and I am keen to watch closely as they manifest with FLETA Blockchain.” Kyn Chaturvedi, TomoChain CBDO
“In 2020, FLETA aims to expand its ecosystem to the global market by collaborating with different protocols. This Partnership with TomoChain blockchain will be a great use case of blockchain technology and FLETA holders will have the privilege to access into TomoChain ecosystem. This partnership will not only be a just announcement but a beginning of great accomplishment.” Henry Hong, FLETA CEO & Co-Founder
