TomoIssuer & TomoBridge Upgrade: Wrap any ERC-20 Token of Your Choice on TomoChain
We’re thrilled to announce the latest upgrade of TomoIssuer and TomoBridge, which will enable anyone to issue a wrapped ERC-20 token and list it on TomoBridge.
Wrapped ERC-20 token is a TRC-21 token hosted on the TomoChain public blockchain and backed by an equal amount of the underlying ERC-20 asset on the Ethereum blockchain. With the latest upgrade, now anyone can issue a wrapped ERC-20 token via TomoIssuer. The wrapped ERC-20 tokens can then be added to TomoBridge with the click of a button for all users to access and wrap/unwrap.
This update has been officially launched since 3am (UTC), 7 January 2021.
At TomoChain, we believe that the future of DeFi will be cross-chain. This upgrade is a tremendous enhancement for cross-chain interoperability, especially between TomoChain and Ethereum. Ethereum users will be able to enjoy the fast speeds and low fees that TomoChain network offers. Meanwhile, TomoChain users will also have much easier access to more diverse DeFi products on Ethereum network.
The improved interoperability between TomoChain and other networks will further uplift the usability and accessibility of TomoChain’s tokens and products. TomoChain will be at an interesting place and attract more developers and projects to build or migrate their products onto our network.
- For TomoDEX and other TomoX based DEXs, there will be more tokens available on the market, which will thus bring in more liquidity.
- For the upcoming launch of LuaSwap on TomoChain, expectedly there will be more pools launched as TomoChain becomes more accessible for Ethereum users.
Eventually, TomoChain’s DeFi ecosystem is looking to scale massively because of the exceptional interoperability and the frictionless user experience TomoChain provides. Having said that, this upgrade marks a great step towards our vision of mass adoption of DeFi by easing off the boundaries across different blockchains.
