Supontis Token is a platform built on the Binance Smart Chain to enable cross-chain bridging of assets within Ethereum, Fantom, Binance, and Tron blockchain networks.
Bridging is a new protocol that enables interoperability, it allows easy and fast transactions between these blockchain networks.
Most blockchain networks have some restrictions; for example, layer 1 networks like Solana and Avalanche were built with their protocol to enable higher output.
However, this feature came at the expense of decentralisation, and for other networks to meet the demand, it requires roll-up. Each blockchain uses different protocols that do not allow their respective assets to move freely within other blockchain networks.
Supontis aims to solve these problems by adopting cross-chain bridges, enabling native token transfers across networks without restriction.
This platform also allows decentralised applications (DApps) to access the strength of other networks, increasing their capabilities and granting users access to new benefits across multiple blockchains.
Supontis Token Has Everything You Are Looking For
Supontis Token functions as a bridge for swapping assets between networks with an amazing transfer process.
Upon triggering a transfer order on one blockchain (chain 1), an equal amount of that asset is created on the other blockchain (chain 2); therefore, assets are not sent anywhere during this process.
Instead, the protocol uses a Smart contract to implement the transfer order in a two-step process. (i.e., locked the asset in chain 1 and unlocked its equivalent in chain 2). Hence, when traders reverse this process, the asset in chain 1 will be unlocked, and its equivalent on chain 2 will be burned.
The Supontis Token platform also adopts a proof-of-stake protocol for staking. Twitch allows users to contribute to the integrity of the network and earn rewards.
Supontis Token ecosystem will have a utility token called PON. It is a BEP-20 token established on Binance Smart Chain (BSC) blockchain network.
Holders will pay transaction fees and stake tokens to support the network’s integrity. It also qualifies holders to participate in governance protocol as well as vote on operational policies and future proposals to develop the ecosystem through its Decentralised Autonomous Organisation (DAO).
Could Supontis Token (PON) Match The success Of Binance Coin (BNB) and Chainlink (LINK)
Initially, Binance Coin was created on Ethereum Blockchain Network as an ERC-20 token but later in 2019, it migrated to its ecosystem known as Binance Smart Chain.
This token enables its holders to enjoy discounts on trading fees while using the chain network. Holders can also use this coin to pay for services like hotel bookings, purchasing gifts, shopping with credit cards, etc.
Tokenholders also qualify to participate in the governance protocol on the network. BNB can also be staked in the Binance launch pool and earn Annual Percentage Yield (APY).
Chainlink is a decentralised network that uses a Smart contract to link real-world data with Blockchain Network services through a bridge called Oracles.
LINK is this platform’s native token, an ERC-20 token established on Ethereum Blockchain Network. The coin is used to pay chainlink node operators and also can be staked in the network.
However, Supontis Token has the following unique qualities that supersede these two cryptos:
- Ensuring efficient and seamless interoperability across chains
- Adopting a proof-of-stake consensus mechanism that enables swift and secured transactions.
- Granting token holders the right to vote on governance policy on the plane.
Although BNB and Link will likely remain very profitable tokens, the Supontis Token network offers highly efficient features connecting all networks in the blockchain consensus. Join now and explore these seamless opportunities.
Presale: http://join.keninah.io/
Website: http://keninah.io/
Telegram: https://t.me/KeninahConcordOfficial
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
This news is republished from another source. You can check the original article here