Tomo Chain To Collaborate With Binance And Introduce TOMOB Coin On Binance Chain

By Rishma Banerjee

Tomo Chain announced its plans on collaborating with Binance to bring a BEP2 TOMOB token on the Binance chain, this Friday. It is being considered as an effort to create interoperability between the two platforms.

Tomo will also introduce the token on Binance DEX, the decentralized crypto exchange of the Binance ecosystem.  The representatives of Tomo explained in a blog:

“TomoBridge has been built, allowing users to easily migrate native TOMO from TomoChain mainnet to TOMOB on Binance Chain and vice versa. Initially, native TOMO can be swapped to TOMOB via TomoBridge, and the full 2-way feature will be completed within the next 3 months.”

TomoBridge will provide an avenue for users to migrate their token to the Binance Chain via a dedicated website, without any hassle. To enable the service, users will only need to enter the addresses of their TomoChain and Binance Chain Wallets.

The testnet for the said platform was previously launched for internal usage and testing and the mainnet was launched on Friday at 3 pm Singapore Time. Tomo expects that the entire transition will be completed within the next three months.

TomoChain is a crypto ecosystem which allows entrepreneurs, enterprises, and institutions to build an advanced blockchain based project solutions. The blockchain protocol is primarily focused on offering features enhanced speed, better privacy, improved usability and liquidity on one platform.

Binance DEX has quickly become the preferred choice for many platforms to release their respective tokens. Recently, a transaction of the value of $1.2 billion in BNB was executed from one wallet to another, within merely 1.1 seconds, and just for $0.15 in fees. This proves the potential it has, thus making it attractive to various other platforms seeking to enlist on the decentralized exchange.