Mid development update: ITAM bridge and cross-chain expansion
Dear ITAM holders,
It’s been a month now since we’ve published our new roadmap and what we were aiming to do after the rebranding. Since then, we’ve been working hard on the product development to be able to deliver you the concrete products that we have mentioned. The product development is not yet finished, but we felt that we owed you some updates on where we stand.
This article will be focusing on one pillar of our vision: the cross-chain expansion. We’ve told you our aim was to become a cross-chain NFT marketplace, and make the ITAM token a cross-chain currency token. So where do we stand on this?
- ITAM Bridge
ITAM Bridge is an in-house tool that we have created in order to establish a cross-chain reach for our token. You can check it out here: https://bridge.itam.games/
What does it do exactly?
Basically it currently allows you to transfer ITAM tokens from ERC20 to BEP20, opening up a whole new world of DeFi partners to farm for yield.
But the current status is far from being the final version of the bridge, it’s actually at an infant stage! We want to keep integrating various blockchain mainnets into the bridge, allowing easy cross-chain transfers of the ITAM token.
2. Second expansion: Polygon (Matic)
Our next stop will be Polygon (ex-Matic). Polygon is a decentralized platform using an adapted version of the Plasma framework that provides a solution for faster and extremely low-cost transactions with finality on the main chain. This network brings scalability to a highly congested Ethereum mainnet. With the BSC showing early signs of congestion last week, Polygon has been seen as a potential candidate for scale (like BSC was at early stages), resulting in a huge rally for Polygon.
We at ITAM are currently working on integrating the Polygon mainnet into our ITAM Bridge. Once that’s done, our token will be freely transferable between ERC20, BEP20 and Polygon.
3. Establishing ourselves on Polygon
When we arrived on the BSC network, we worked hard to partner up with well-known DeFi players (Pancake Swap, Cafe Swap, Alpaca Finance, Launchzone, AutoFarm and Beefy). This was to make our token known and accessible by BSC users.
We will apply the same strategy with Polygon, meaning we will from the beginning partner up with strong and established players. To give you an example we are currently in discussions with Quickswap to see how we can enter the Polygon DeFi ecosystem.
I hope this clarified at least a little bit what we’ve been working on. Of course, there are many other things that are being developed, such as the website renewal and the NFT marketplace renewal. And rest assured, we will make sure to communicate on those when time comes.