TomoChain Teams up with Binance to Create an Interoperable Token for Both Chains
TomoChain has announced its collaboration with Binance Chain to release a BEP2 token that can be swapped between both blockchains. The collaboration will allow users to migrate their native TOMO from TomoChain to TOMOB on Binance Chain and vice versa. TOMOB is the ticker of the BEP2 token.
The move to create a swappable token that will work on both blockchain is an effort to create interoperability between blockchains, in this case between TomoChain and Binance Chain.
This decision showcases our mutual support for the interoperability within the blockchain ecosystem. With the creation of TOMOB, a part of native TOMO will be migrated to Binance Chain.
TomoChain has also revealed their plans to list TOMOB on Binance’s decentralized exchange, Binance DEX.
As at press time, TomoBridge which has been built help users through the migration process was up and running. The team’s target is to have 2,000,000 TOMO migrated to TOMOB. Around 734,000 (36.72%) TOMO tokens have already been migrated.
The team has left a note on the TomoBridge website, which says:
TOMO swapped to the BEP2 chain is a one-way conversion for a period of 3 months from listing on the Binance DEX. After 3 months, we will enable swapping of your TOMOB back to the main TomoChain Blockchain.