August 31, 2021: IOST, a decentralized, ultra-fast and high-throughput blockchain network, announced the imminent launch of a cross-chain bridge that will connect the IOST blockchain and the Binance Smart Chain.
The quest for blockchain interoperability continues
While there are increasingly more calls for blockchain interoperability, 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 upcoming cross-chain bridge — being developed by IOST’s new strategic partner, KokomoSwap — will enable interoperability across IOST and the BSC, allowing the transfer of tokens (assets) to-and-fro from two networks and easier access to the BSC from IOST or vice versa. The completed cross-chain bridge will mark a monumental moment as it would link two ecosystems with a combined 2.5 million mainnet users, furthering the shared objective of growing blockchain adoption.
IOST partners BSC-based DEX KokomoSwap
KokomoSwap is a Binance Smart Chain-based automated market maker decentralized exchange designed to facilitate the seamless transaction of crypto assets in a fun-filled and profitable manner. In this partnership, on top of building a cross-chain bridge to connect IOST and the BSC, KokomoSwap is now a registered Servi Node of the IOST blockchain, a “full” node that stores the full transaction history of the IOST blockchain, produces blocks and validates transactions.
Early-bird voters will randomly receive iKOKOMO that can be converted to KokomoSwap (KOKOMO) tokens 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 buyback 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 decentralized finance, 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 value and opportunities for our users. In the near future, IOST will collaborate with more leading projects to accelerate our ecosystem’s growth,” highlighted Blake Jeong, chief marketing officer of IOST.
“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,” said the KokomoSwap team.
IOST continues to assert its dominance in the smart contract landscape
Decentralized, high-performance smart contract platform IOST had nothing short of a spectacular first half in 2021. The IOST ecosystem grew at an enviable pace during the first eight months of the year and taking into consideration the project’s pipeline, its outlook appears extremely promising heading into the later part of 2021.
Backed by major financial and venture capital firms such as Sequoia Capital, Matrix and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient and proof-of-believability-powered smart contract platform built to tackle the scalability trilemma once and for all. In terms of blockchain’s basic technology, IOST trumped the likes of Ethereum, EOS and Tron for the fifth consecutive time per the latest ranking from the Centre for Information and Industry Development (CCID), an entity of China’s Ministry of Industry and Information Technology.
In addition to the aforementioned, IOST was able to successfully check numerous milestones and witnessed a booming nonfungible token market on its network as a number of quality projects went live on the platform to offer innovative NFTs to users. Sharing the IOST-based NFTs spotlight includes Platinum Egg’s Tokenlink NFT marketplace, the up-and-coming Revival NFT marketplace as well as the imminent massive launch of Japan’s mixed martial arts fighters Rizin NFT marketplace.
In the latest update, IOST and its partner Donnie Finance announced the airdrop of Donnie tokens to IOST holders on major exchanges.