A great kick off to the year with several major announcements for the iOWN Token in Q1, as things are shaping up for the next quarter and the iOWN ecosystem is edging closer to be massively adopted and utilised in several innovated spaces, we will review accomplished milestones and upcoming announcements for next quarter.
iOWN are thrilled to announce a major upgrade to the iOWN Wallet. Implementation of multiple bug fixes, and optimization to the app to ensure the most suitable user experience. The major improvement to the wallet is the new dual-chain support; Ethereum and BNB Chain. Along with a listing of stable coins and utility tokens.
The new integration of the BNB Chain will allow for significantly lower transaction fees compared to the Ethereum Network, consequently, the iOWN Token will run exclusively on BNB Chain for the time being.
As a multi-utility wallet, newly listed tokens are available for you to buy, receive, send and store. The tokens & coins available on BNB Chain are IOWN, USDT, BUSD and BNB, meanwhile running on the Ethereum Network, the available token and coins are USDT, USDC and ETH. Switching between the two networks (Ethereum and BNB Chain) is simple and accessible by clicking the bi-directional arrows on the top right of the app.
Dual Chain Upgrade
Considering the iOWN community request for a more dynamic experience utilizing the token, iOWN are excited to announce a major upgrade to the iOWN Token that will give you “the token holders” a solution to current scalability hurdles with Ethereum and support their goals.
iOWN Token will migrate from Ethereum Blockchain to BNB Chain, formerly known as “Binance Smart Chain” considering the lower transaction fees averaging between $0.3 to $0.6 worth of BNB compared to Ethereum gas fee of $5 to $40 worth of ETH. The BNB chain will also allow iOWN to integrate with DEXs such as PanCakeSwap that will open opportunities to a high-volume decentralized market. The utility of token and its ecosystem will operate smoothly allowing iOWN token to be efficiently utilized as mean of payment benefiting from a low transaction fee high transaction speed and managing crowdfunding campaigns on the blockchain.
iOWN will issue current token holders with the new Tokens on the iOWN Wallet. The swap of old iOWN Token (ERC-223) and New iOWN Token (BEP-20) distribution of 1:1 ratio (old:new) will take place before the 4th of April 2022. Holders of the old iOWN Token storing the tokens on 3rd party wallets such as MetaMask will also receive the new tokens as long as they activate the Binance Chain on their wallet. Tokens circulating on exchanges will also be swapped to the new tokens.
iOWN Token CertiK Audit
The token’s successful audit was completed on March 15, 2022, achieving a high security in the industry-standard audit on Certik’s platform – a leading smart contracts audit firm approved by CoinMarketCap. Overall, CertiK recommended a few technical improvements and the iOWN technical team insured that all critical, major, and minor issues have been assessed, acknowledged, and resolved by implementing the recommendations and updating the codebase. After finalizing the audit, iOWN Token is now invulnerable to common security issues prevalent in the industry.
The audit was a core requirement for the new iOWN Token contract on the BNB Chain, to ensure the quality and progress of the iOWN ecosystem.
Reduced Token Supply
The Max Supply on the Ethereum ERC-223 contract was 450M tokens, with the new upgraded BNB Chain contract, iOWN are pleased to announce that the new max token supply will be 350M (100M token burn). By eliminating 100 million tokens from supply, iOWN is showing intent by providing transparency that leads to a positive direction and progression for the token.
To conclude, iOWN Token has had a progressive start to 2022 by achieving all set goals for the first quarter, thanks to the ever-expanding team of developers, marketing and business development executives ensuring that all the milestones are achieved and delivered to the iOWN community with a clear vision of the 2nd quarter focusing on the utilization of the token.
New Exchange Listing
As the iOWN Ecosystem continues to grow in capability and features, more exchanges are taking notice of this dynamic token. Coinsbit has joined the ranks of exchanges to list the iOWN Token, becoming the 3rd exchange to offer iOWN to its users!
From real-estate, equity crowdfunding and more, the iOWN community understands the appeal of the IOWN ecosystem and what is getting built and more people discovering IOWN each day, the token is expected to appeal to the Coinsbit users with the trading pair of IOWN/USDT.
IOWN is now available on 3 different exchanges: Coinsbit, Latoken and P2PB2B and several more tier 1 & 2 exchange listings on the horizon.
Disclaimer: This is a paid post and should not be treated as news/advice.