Huge Updates From TomoChain, Secures Strategic Partnerships

TomoChain is a Proof-of-Stake (PoS) consensus blockchain platform that has recorded an impressive uptick as it continues to evolve and form new alliances.

TomoChain, via an official blog post, announced its recent achievements, growth, and strategic partnerships. The blockchain project recently partnered with Bounded Finance and Knit Finance.

The collaboration and other recent updates on the platform have been credited for the $TOMO token price rise in the past 7-days. Also, the partnership has furthered TomoChain’s vision to solve interoperability and accelerate the onboarding of millions of users on the blockchain.

According to a recent tweet of Long Vuong, founder, and CEO of TomoChain, also lauded the growth of the decentralized blockchain project.

The difference between TomoChain and other DeFi projects? We are moving forward instead of waiting for others. Working on TomoChain independently allows us a vast of mount of innovation and flexibility. It will show over time. @TomoChainANN pic.twitter.com/zJwdNMTLKq

— Long Vuong (@longvuong22) May 17, 2020

TomoChain Partners With Knit Finance.

Knit Finance, a decentralized protocol focused on creating cross-chain wrapped tokens for top multi-class assets. This platform has partnered with TomoChain.

As a result, the collaboration will enable users to mint TomoChain wrapped token ($kTOMO) and send across several chains. Also, the partnership will allow users to transfer $kTOMO to Ethereum, Polygon, Binance Smart Chain (BSC), among other blockchains.

On the other hand, Knit Finance announced that more chains would be added shortly. The protocol further revealed that users would be able to stake, lend, and borrow $kTOMO on its platform soon.

TomoChain, in a statement, also expressed its delight with the integration. It pointed out that the collaboration will facilitate easy cross-chain liquidity transfer and increase the interoperability for $TOMO.

TomoChain Partners With Bounded Finance

Similarly, Tomochain has integrated with Bounded Finance by joining the #DeFi4Everyone initiative on the Bonded Primary Lending Platform.

As a result of the collaboration, $TOMOE holders will borrow certain stablecoins by collateralizing their $TOMOE tokens. Also, the integration will provide more use cases for the asset. It will also offer investment opportunities for $TOMOE users on the Ethereum network via leveraging their $TOMOE.

Great news for $TOMOE lovers! 🔥
Users can now collateralize $TOMOE to borrow various stable coins on @Bondedfinance Primary Lending Platform 😱

Looking forward to more excitement to come with this partnership! 💪https://t.co/qPI24vs2Vz

— TomoChain (@TomoChainANN) September 2, 2021

Vuong, in a statement, lauded the partnership, noting that it will add more utility for TOMOE.  He said, “[…] I’m looking forward to the various opportunities that integrating with Bonded Finance will bring to our community.”

LuaSwap Hit $1million Trading Volume on Tomochain and Ethereum

Meanwhile, Tomochain has also revealed that LuaSwap has reached a new milestone of  USD 1 million trading volume on Tomochain and Ethereum.

According to LuaSwap, although it has faced resistance to delivers a community-governed, multichain protocol was able to rise.

Good news, $LUA community! 👏#LuaSwap’s just reached 1⃣ Million dollar trading volume on both #TomoChain & #Ethereum networks within 24 hours! Truly amazing⚡️

Despite the ups & downs of the market, determination reigns supreme 🔥 pic.twitter.com/LmV1nRNddi

— LuaSwap (@LuaSwap) September 8, 2021

$TOMO Price

At the time of publication, $TOMO was trading at USD 2.29 with a market cap of USD 193,946,254 and a 24-hour trading volume of USD 10,942,292. The token price was down by 1.7% in the last 24 hours.

However, $TOMO has made monumental progress this year, hitting an all-time high of $3.61 on Sep 06. The token at press time had a circulating supply of $84.2 million with a total supply of 100 million.

   
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