This partnership will allow for the seamless transfer of assets from different blockchains to Telos, enabling users to take advantage of the unique features and capabilities of the Chainport bridge.

Partnership Highlights

ChainPort is a blockchain infrastructure service provider that specializes in providing interoperability solutions. By partnering with ChainPort, Telos can benefit from ChainPort’s expertise in connecting different blockchain networks, which would make it easier for Telos to expand their ecosystem and attract more developers to build native dApps on Telos. Additionally, ChainPort would benefit from the partnership by gaining access to Telos’s large and active community of users, developers and stable, high-performance blockchain. Together, Telos and ChainPort can create a more seamless, efficient, and interconnected Web3 native ecosystem.

Some of the many benefits of Chainport include:

• Quick and easy transfer of tokens between chains.
• Free of restriction to a single blockchain.
• Support for the most popular DeFi wallets.
• No third-party intermediaries.
• The latest multi-layer security technology to protect assets.
• In MPC cryptography and hardware isolation.

The intuitive user interface of ChainPort greatly facilitates the bridging process, while its rapid speeds and direct support allow for developers and users to easily connect.

It also implies that Chainport bridge can be readily embedded into dApps and websites, which is fantastic news for market makers and exchanges who utilize their API to deliver a smooth bridging experience.

By joining forces, this partnership will increase user access to the Telos ecosystem while maintaining the highest level of security. The combination of the speed of the TelosEVM and Chainport’s secure, cross-chain capabilities creates the ideal environment for users to engage with the gold standard of blockchain technology.

About ChainPort

ChainPort is a next-gen cross-chain bridge that provides custodian-level security with full interoperability. ChainPort introduces an unprecedented level of security architecture, porting tokens safely across blockchains with just a click.

Furthermore, security is always paramount for ChainPort, and 95% of the funds are stored in cold storage wallets provided by leading industry security experts: FireBlocks MPC and Gnosis-safe multi-sig. ChainPort is a permissionless bridge already porting more than 190 tokens between blockchains, with additional projects joining daily. Porting is done in just minutes through a friendly and also straightforward UI without the need for any technical integration.

Since its launch in 2021, Chainport has managed 45,000 ports and $600,000,000 in volume. Learn more by visiting ChainPort.io or reading their documentation.

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About Telos

The Telos EVM is the most powerful and scalable Ethereum Smart Contract platform built to power Web 3.0. Telos features a robust, third-generation, ESG-compliant evolutionary blockchain governance system, including smart contracts, advanced voting features, and also flexible and user-friendly fee models. In addition, Telos supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications through development grants.

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About Chainport

ChainPort is a next-generation blockchain bridge that places security first while maintaining full functionality. With ChainPort, you can easily port tokens across 9+ blockchains within minutes.

It is also the first bridge that offers a fully custodial solution, which safeguards 95% of funds in cold storage vaults. In addition to that, there is an easy-to-use UI, and porting can be done at astounding speed.

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SOURCE: MEDIUM

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By adding native Fantom token support, ChainPort now supports three native tokens. Those are Ethereum, Polygon, and BNB, with more to be supported soon. Additional token support brings ChainPort closer to its mission of security and interoperability. As ChainPort to Support Fantom Native Tokens. According to FTMscan, there are over 1,000,000 transactions on FTM’s blockchain per day.

Fantom is a highly scalable EVM-compatible proof-of-stake blockchain with many Dapps and tokens developed on its chain.

Fantom Native Token Support

Porting tokens cross chain can help projects originally developed on Fantom reach a larger audience. Cross chain deployment can assist these projects. Tokens get listed on a more significant number of DEXs. Multiple listings could assist their trading volume, exposure, and adoption.

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About Fantom

Fantom (FTM) is a highly secure and scalable proof-of-stake blockchain ecosystem. Other key features of Fantom are its speed and low fees. Since the launch of Fantom’s mainnet in 2019, it quickly grew in popularity. Currently, it is within the top 100 cryptocurrencies by market cap.

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About ChainPort  

ChainPort is a next-gen cross chain bridge that provides custodian-level security with full interoperability. They introduces an unprecedented level of security architecture, porting tokens safely across blockchains with just a click.

ChainPort is a permissionless bridge already porting more than 191 tokens between blockchains, with additional projects joining daily. Since its launch in 2021, Chainport has managed 40,000 ports and $610,000,000 in volume. Learn more by visiting ChainPort.io or reading our documentation.

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SOURCE: CHAINPORT BLOG

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While PORTX was intended to launch earlier, several factors, including fluctuating market conditions, delayed the launch. Now that they have achieved the intended milestones and market turbulence has eased, as Chainport – PORTX Token Launching.

Last week ChainPort announced a new fee mechanism. By implementing fees, there is not only a solid monetization plan for ChainPort, but it also rewards holders, users, stakers, and projects.

ChainPort’s development team wanted to properly test and perfect the fee and staking mechanism to start collecting fees in advance of the launch. Up to 95% of the fees accrued over this period will be converted to PORTX and redistributed according to ChainPort’s tokenomics.

PORTX Token

The PORTX token will be central to the ChainPort ecosystem. The PORTX token will be used to pay discounted porting fees, staking and rewarding incentives, and liquidity rewards once ChainPort supports stablecoins. The introduction of the PORTX token now integrates smoothly into the bridge. This will guarantee ChainPort’s long-term dominance as one of the leading cross chain bridges.

The launch of the PORTX token will advance ChainPort even further. The introduction of PORTX and its multiple incentive models will make ChainPort the cross chain bridge of choice for many. With ChainPort’s emphasis on robust security features, cross chain interoperability, and now a partner’s revenue share model, ChainPort is the ideal tool for bridging tokens.

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About ChainPort

ChainPort is a next-gen cross chain bridge that provides custodian-level security with full interoperability. Moreover, they introduces an unprecedented level of security architecture, porting tokens safely across blockchains with just a click.

ChainPort is a permissionless bridge and is already porting more than 140 tokens between different blockchains with additional projects joining daily. Furthermore, porting is done in just minutes through a friendly and simple UI without the need for any technical integration.

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SOURCE

https://medium.com/chainport/chainports-portx-token-tge-announcement-fff10923db9f

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