The IoTeX public blockchain has launched a redemption portal, supporting 1:1 exchange of native IOTX

The Internet of Things public chain IoTeX announced the launch of IOTX supply integration and the IOTX Redemption Portal. Users can exchange the ERC-20 IOTX issued on Ethereum in 2018 at a 1:1 ratio with zero fees for the native IOTX on the IoTeX mainnet. After completing the connection, sending, and signing, the native tokens will be sent to the same address.

IoTeX stated that IOTX was issued in 2018 in the form of Ethereum ERC-20. A year later, the IoTeX mainnet went live, and the native IOTX is used to pay for Gas, secure network safety through staking, and complete settlements on IoTeX L1. Since the 2018 contract is still in circulation, IOTX has coexisted in two forms for a long time, and this integration aims to unify the supply.

IoTeX also mentioned that the European fintech company Revolut has supported native IOTX, with over 70 million global customers; the licensed exchange in Thailand, Bitkub, has also supported it. Both have joined platforms that already support native IOTX, such as Binance, Upbit, Bithumb, and Kraken.