Loom Network (LOOM) Adds PlasmaChain Support for the Top 100 ERC-20 Tokens
Earlier this week, Loom Network (LOOM), a blockchain ecosystem for games and social apps, announced the addition of Binance Coin (BNB) as a payment option for PlasmaChain dapps. As it turns out, BNB was just the start of an ERC-20 token deluge, as Loom Network revealed Thursday that it has added support for the top-100 ERC-20 tokens by market cap on PlasmaChain.
We’ve officially added #PlasmaChain support for the top 100 ERC20 tokens.
— Loom Network (@loomnetwork) March 14, 2019
Included in the list of ERC-20 tokens are six of the top stablecoins: USD Coin (USDC), TrueUSD (TUSD), Maker Dai (DAI), Paxos Standard Token (PAX), Gemini Dollar (GUSD) and STASIS EURS (EURS). With the integration, these stablecoins can now leverage a second-layer solution that enables fast payments with near-instant settlement, further expanding the utility the tokens.
“Stablecoins by themselves are great,” said the Loom Network team. “But integrating them into a Layer 2 like PlasmaChain is like putting stablecoins on steroids — bringing them even closer to a potentially disruptive form of online payments.”
LOOM is currently up 8.3% in the last week and 63% in the past month to $0.065555, giving the token a $49.7 million market cap.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.