ChainPort

ChainPort has always been a revolutionary cross chain bridge. Since its conceptualization, ChainPort has placed a heavy emphasis on both interoperability and security. The team expanded ChainPort’s support to several leading blockchains, with more chains planned. Users can port tokens across different blockchains without the need to revert to the original token.Regarding security, ChainPort leads the pack with a wide array of features that guarantee fund safety. ChainPort’s team developed a custodial solution with Fireblocks MPC and Gnosis safe’s assistance to ensure security. Cold storage wallets store 95% of all funds, with the remaining 5% on the “hot contract.” ChainPort has also been independently audited over three times by top blockchain security firms to guarantee smart contract integrity.ChainPort combines a unique security architecture with interoperability and an intuitive UX/UI. Anyone, even the non-tech-savvy, can safely and efficiently port tokens across blockchains using ChainPort. These factors significantly contributed to ChainPort’s adoption as a cross chain bridge.Since its launch, ChainPort has ported over 87,000 tokens and reached a TVL of over $400M.‍PORTX Token &amp; ChainPort’s Crypto EcosystemChainPort recently implemented a unique fee structure to monetize the bridge. These fees maintain development overhead, so ChainPort can continue to develop revolutionary features. The porting costs are a minimal 0.3% of the total value per port, currently payable in the ported token. In future updates, users will be able to pay these fees with the native blockchain coin (e.g., ETH, ADA).As part of the team’s effort to consistently improve ChainPort, they conceived the PORTX token. PORTX is a utility or ecosystem token that significantly discounts porting fees and redistributes fees to stakers. When porting fees are paid in PORTX, the costs are reduced further to 0.2% of the value per port.The team redistributes ChainPort’s fees in a way that generates actual value or “real yield” for PORTX holders. These fees will be accrued and redistributed for the following purposes:PORTX Token BuybacksThe ChainPort team will use a 15% of the fees to purchase PORTX tokens. Buybacks help a crypto project maintain steady growth and stabilize a token’s price.DEX LiquidityModern DEXs require user-provided liquidity for trading pairs (e.g., PORTX/BUSD) to be tradable. Typically, the more liquidity a token pair has on a DEX, the better it is for traders and the token. Token liquidity is key to a crypto project’s success and adoption and typically increases trading volume. 20% of the fees generated will be used to provide liquidity for PORTX trading pairs on DEXs.APY Rewards for StakersThe ChainPort team plans on deploying staking farms for PORTX holders and Defi farming enthusiasts. TokensFarm will provide ChainPort’s <a href="https://tokensfarm.com/" rel="noopener noreferrer nofollow">staking farm</a>. The farm’s smart contracts will reward PORTX token holders for staking their coins in a smart contract. The rewards will be in the form of additional PORTX tokens, so users can stake PORTX tokens to receive more PORTX. 10% of ChainPort’s fees will be diverted to provide APY to stakers.Future Development5% of PORTX tokens will be used to guarantee the future development of ChainPort’s cross chain bridge. ChainPort plans on expanding its capabilities to support non-EVM chains. By consistently adding innovative features and support for popular chains, ChainPort will continue to be the leading blockchain bridge.Redistribution to ProjectsChainPort will redistribute a portion of 20% of all porting fees in PORTX to crypto projects that have used its bridge. This form of “cash-back” will incentivize projects to prioritize ChainPort as their bridge of choice. As the cash-back is in the PORTX token, the project may use it for future discounts in porting. If the project does not claim the funds, they will be diverted to buyback PORTX token.Participation RewardsEvery address that ports tokens will receive participation points regularly claimable in the PORTX token. 20% of the revenue from fees will be used as participation rewards.Referral/Affiliation RewardsReferrals and affiliation rewards are a part of every good marketing campaign and can help popularize a service or business. As such, ChainPort will divert 20% of the revenue generated from fees towards affiliation rewards. The ChainPort team will grant these rewards to whoever refers others to ChainPort’s bridge to port tokens. The number of rewards will depend on the total value per port.‍The Real Yield Narrative in DeFiThe DeFi sector has undergone some rather significant changes in recent weeks. DeFi enthusiasts have prioritized crypto projects that provide “real yield.”<a href="https://cryptoadventure.com/real-yield-the-top-defi-tokens-for-generating-actual-revenue/" rel="noopener noreferrer nofollow">As per Crypto Adventure</a>, “real yield” is defined as yield accrued through actual protocol revenue. Usually, trading fees generate the protocol’s revenue, although other fees may also generate income. These fees are distributed to holders of the protocol’s native token.“Real Yield” is vastly different than older DeFi protocols which provided “fake yield.” The main difference between the two is the source of the rewards. Many “fake yields” maintained attractive APYs by continuously minting tokens, leading to a massive increase in the tokens’ circulating supply. The lack of scarcity typically leads to a token’s price collapse and the project’s eventual failure.Most “fake yield” projects collapse within months, and Yam Finance and their token YAM are good examples of this.‍How PORTX &amp; ChainPort Provide Real YieldOne of the key benefits of holding PORTX tokens is ChainPort’s fee distribution model designed for PORTX tokens. The ChainPort fee model depends on using ChainPort’s bridge and requires a genuine, steady, and loyal userbase.While redistribution of funds is generated by porting fees and not trading fees, ChainPort and the PORTX token fit the definition of “real yield” to the fullest. ChainPort can ensure a long future and lead the way as a cross chain bridge by providing a real yield.‍About ChainPortChainPort is a next-gen cross chain bridge that provides custodian-level security with full interoperability. ChainPort introduces an unprecedented level of security architecture, porting tokens safely across blockchains with just a click.Security is always paramount for ChainPort, and 95% of the funds are stored in cold storage wallets provided by leading industry security experts: FireBlocks MPC and Gnosis-safe multi-sig.ChainPort is a permissionless bridge already porting more than 189 tokens between blockchains, with additional projects joining daily. Porting is done in just minutes through a friendly and straightforward UI without the need for any technical integration.Since its launch in 2021, Chainport has managed 39,000 ports and $600,000,000 in volume. Learn more by visiting ChainPort.io or reading our documentation.‍Join ChainPort’s community for updates:<a href="https://www.chainport.io/" rel="noopener noreferrer nofollow">ChainPort</a> | <a href="https://twitter.com/chain_port" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://t.me/chainport" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://t.me/chainport_news" rel="noopener noreferrer nofollow">ChainPort News</a> | <a href="https://docs.chainport.io/" rel="noopener noreferrer nofollow">Documentation</a> | <a href="https://medium.com/chainport" rel="noopener noreferrer nofollow">Medium</a>

ChainPort’s PORTX Token & Real Yield DeFi

ChainPort

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