We at ChainPort are incredibly excited to update you on the upcoming PORTX Token Generation Event (TGE). The ChainPort team has been working hard to develop the finest ecosystem token for our next-generation cross-chain bridge.
Since our launch last year, ChainPort has created a new standard as a cross-chain bridge. ChainPort includes impressive security features, full interoperability, and fast bridging of tokens. As of today, ChainPort supports over nine chains, has a port volume of $615,923,820, and has a total value locked of $71M. (Even considering difficult market conditions ;) ).
Progress has been advancing at an accelerating pace. A fee mechanism has been set up for ChainPort, bridge support has been extended to more chains, and the PORTX token is now a central part of the ecosystem.
As mentioned earlier, PORTX’s TGE was due to take place earlier. Still, different factors delayed the launch, including market conditions, rigorously testing ChainPort’s security, and the new fee model to ensure it is up to our standards.
With ChainPort’s fee model in place, ChainPort will accumulate all revenues until the TGE. Following PORTX’s TGE, up to 95% of all revenues will be swapped to PORTX tokens and redistributed per PORTX’s tokenomics.
With the market stabilizing and the fee mechanism tested, ChainPort is ready to launch PORTX. The TGE for PORTX will take place on the 20th of September, 2022.
The launch of the PORTX token is a significant milestone in ChainPort’s history. By launching the PORTX token, ChainPort becomes greater than just a bridge. It becomes a fully-fledged ecosystem with PORTX at its heart.
The ChainPort team will launch PORTX Token on a centralized exchange and right after on several DEXs on different chains. ChainPort has partnered with top market makers and multiple DEXs. Soon, ChainPort will provide a complete list of exchanges and DEXs.
When buying or trading PORTX tokens on DEXs, please verify the contract address first. ChainPort's official channels will list the contract addresses for the PORTX token on various chains. PORTX tokens will be ported across several chains and listed on different DEXs. As such, it will have different contract addresses. Trust only addresses ChainPort’s team provides on ChainPort.io/token, and be wary of fake accounts!
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