KILT, a blockchain identity protocol, has announced the launch of its token on the Ethereum network. This marks a significant expansion beyond its original Polkadot ecosystem. This move, facilitated by Project Polar Path, guarantees secure and trustless token transfers between networks.
This expansion allows KILT token holders to access Ethereum's vast decentralized finance (DeFi) ecosystem, and we are confident that this will increase the protocol's visibility and adoption within the broader cryptocurrency community.
Ingo Rübe, Founder and CEO of KILT, stated, "Our community has made it clear that they want us to expand to other ecosystems." We are making the KILT token more widely accessible, offering users greater flexibility and new opportunities.
Project Polar Path, developed by the KILT Core Team, allows KILT token holders to transfer their assets to Ethereum. This development also paves the way for other Polkadot parachain projects to make their tokens available on Ethereum using the same infrastructure. The project uses Snowbridge's architecture to guarantee secure and trustless asset transfers between networks.
The Galani Projects team has developed a user-friendly interface with a new tab for token-switching functionality within the Snowbridge application to enhance the user experience.
Rish Kumar, Head of Growth for KILT, stated: "Our expansion to Ethereum is just the first step in our multi-chain integration strategy. We're exploring additional blockchain networks to further enhance our ecosystem and provide more options for our community."
This expansion represents a significant milestone for KILT, increasing its utility and reach within the blockchain and DeFi sectors.
