What is TOMOE?
TOMOE is an ERC20 token stored on the Ethereum blockchain and backed by an equivalent amount of native TOMO (on the TomoChain blockchain). One TOMOE is equal to one native TOMO at any given moment.
Token contract address: 0x05d3606d5c81eb9b7b18530995ec9b29da05faba
Users can switch between TOMO and TOMOE at any time via TomoBridge. The proof of reserve is on-chain, showing an exact 1:1 ratio between the minted TOMOE and the native TOMO. Once swapping back to native TOMO, TOMOE will be burned. The minting and burning are tracked and verified through a smart contract on TomoScan/ Etherscan.
TOMOE is an ERC20 token on the Ethereum blockchain.
TOMOE makes it possible to manage TOMO even on the Ethereum blockchain. In addition, there’s also TOMOB – BEP-2 TOMO tokens on Binance Chain, which has similar specifications. Beyond the creation of TOMOE and TOMOB, we can expect that independent blockchains will become more borderless over time.
What is TomoBridge?
TomoBridge is a protocol that allows users to convert assets from a Blockchain to TomoChain, and vice versa. TomoBridge enables you to wrap ETH, BTC, USDT, etc. to TomoChain’s TRC21 Wrapped Token. ETH, BTC, and USDT converted to TRC21 can be traded and lent at TomoDEX.
A TRC21 Wrapped Token is hosted on the TomoChain public blockchain, issued by TomoBridge, and backed by an equal amount of the underlying asset or currency.
For instance, you can swap 01 ETH on the Ethereum Blockchain to TRC21 Wrapped Token to be able to use it on TomoChain. Once switched via TomoBridge, your Wrapped ETH (TRC21) will exist on TomoChain, and it has the same value of 01 native ETH. When you switch your Wrapped ETH back to the native ETH, the Wrapped ETH on TomoChain will be burnt. Obviously, your locked ETH on Ethereum Blockchain will be released back to your ETH account.
Besides the possibility of trading on TomoX, wrapping these native assets into TRC21 Wrapped Tokens offers enormous benefits for holders and the TomoChain ecosystem in general.
As of the time of this writing, when you visit TomoBridge, you will see these following features:
- TOMO / TOMOE – ERC20
- TOMO / TOMOB – BEP2
- TOKENS / TRC21 TOKENS
TomoBridge is a protocol that allows users to convert assets from a Blockchain to TomoChain, and vice versa.
At the moment, tokens that can be converted to TRC21 are as follows:
- BTC
- ETH
- USDT
- YFI
- VNDC
- FTT
- DEC
- SRM
- DXD
- MTA
- HY
- FRONT
- PIE
- VNDC
The number of tokens that support TRC21 has increased considerably.
How to swap tokens from/to TOMOE?
TOMOE can be swapped within Uniswap or TomoBridge.
How to swap your Token to TOMOE (Ethereum) via Uniswap
- Access Uniswap
- Select “Trade” in the upper right
- Click on the down arrow to switch between tokens. Then enter the quantity and connect the wallet to swap.
How to swap TOMOE (Ethereum) to TOMO (TomoChain)
- Go to TomoBridge via Pantograph
- Choose to swap “TOMO / TOMOE – ERC20”
- Connect your wallet. After that, enter the amount of TOMOE you want to swap from your TOMO.
Conclusion
TomoChain makes the lines between different chains increasingly blurred. This may be difficult to achieve for non-mainstream chains, but for TomoChain it is not the case at all.
It can be seen that TomoChain’s growth in the market is surprising and deserves more recognition.
TOMOE, TOMOB, and cross-chain portal TomoBridge have provided an opportunity for TomoChain’s native token – TOMO to be more widely accepted. This will bring more benefits to the investors eventually.
We hope you found this article helpful.
