QLC Chain has launched an ERC-20 version of its QLC token. Users can convert back and forth between the ERC-20 and NEP-5 token standards through cross-chain swaps. This brings QLC Chain one step closer on its roadmap to offering an Ethereum-based DeFi product. The team states its DeFi product will act as a supplement to its current financial services.
QLC Chain is a decentralized Network-as-a-Service provider that aims to improve telecom infrastructures. It is using blockchain to create a market for data and service exchange with instant billing and micropayments. QLC Chain’s goal is to simplify the supply chain between service providers, telecom operators, and enterprises.
Tokens can be swapped between ERC-20 and NEP-5 at a 1:1 ratio, with no impact on the total supply. Token holders can swap on the QLC Chain explorer without paying any transaction fees.
Functionality support for non-custodial DeFi projects was a highlight in the October 2020 QWallet update. The update included the ability to connect to Ethereum wallets. Looking forward, QLC Chain will work on implementing trading on non-custodial exchanges like Uniswap, Loopring, Kyber, Bancor, and SakeSwap.
The full announcement can be found at the link below:
https://qlcchain.medium.com/qlc-cross-chain-swap-announcement-ffb33e1f66a1
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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