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Bridge Protocol has announced that it will be replacing its IAM token with the TOLL token. Bridge is building a suite of tools focused on blockchain business processes and digital identity.

A snapshot of NEO wallets will be taken on June 13th at 12:00am UTC, and TOLL tokens will be airdropped 1:1 to all IAM holders. The IAM token will no longer be accepted on the Bridge platform.

Bridge recommends that traders cease trading IAM by June 12th at 12:00pm UTC to allow balances to settle. No other action is required by IAM holders, and the circulating supply of TOLL tokens will remain the same.

Bridge has also co-ordinated with BITEBTC and Bitpaction to ensure that TOLL will be promptly distributed to users who hold IAM tokens on their exchanges.

The TOLL token is an upgrade to the IAM token. It will allow Bridge to be immediately compatible with Switcheo and is “more consistent with the branding and utility needs of Bridge Protocol”.

The airdrop should be complete by end-of-day, June 14th.

Bridge report that platform development is been steadily progressing, saying, “We are right on track and will begin implementation testing at the end of the month with some great providers and partners!”

More information on Bridge Protocol can be found at the below links.