CIOTX: Cross-Chain IOTX for Polygon & Binance Smart Chain

IoTeX is quickly becoming the most connected blockchain in the entire industry. Earlier this month we launched ioTube v5, the cross-chain bridge for two-way token swaps between IoTeX, Ethereum, Binance Smart Chain (BSC), and Polygon. Today we are unveiling another major cross-chain tool! Introducing CIOTX (cross-chain IOTX), a new cross-chain version of IOTX that can be bridged directly via ioTube to the blockchain universe.

CIOTX enables IOTX to be bridged and utilized on other blockchains, such as Polygon (now) and BSC / Ethereum (coming soon).

CIOTX will make direct chain-to-chain transfers possible, unlocking new utility for IOTX token holders. Please note the multiple varieties of the IOTX token that facilitate cross-chain activities using IOTX on Ethereum, BSC, and Polygon:

• IOTX: the native token of the IoTeX Network
• CIOTX: cross-chain IOTX that can be utilized on Polygon, BSC, and more
• WIOTX: wrapped IOTX that facilitates IOTX to ERC20-IOTX conversion
• ERC20-IOTX: the ERC20 version of IOTX on Ethereum
• BSC-Pegged IOTX: the BEP20 version of IOTX on Binance Smart Chain

CIOTX on ioTube

Transferring IOTX from IoTeX to other blockchains is now seamless thanks to ioTube v5. You will notice a new "Cross-chain IOTX" tab on the ioTube website, where you can easily convert IOTX or WIOTX to CIOTX. Once you have CIOTX, you can enter the "Tube" tab to bridge your CIOTX to Polygon starting now. For more guidance, please see our step-by-step instructions.

What's Next?

With the introduction of CIOTX, we are getting ready to announce new initiatives with top projects on Polygon, BSC, and Ethereum for new liquidity provisioning, yield farming, and DeFi-based opportunities. CIOTX will enable frictionless transfers of value between IoTeX and top blockchains, unlocking a plethora of new use cases for IOTX token holders. Stay tuned!

About IoTeX

Founded as an open-source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and confidential computing to enable next-gen IoT devices, networks, and economies. IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.

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