Type: Bridged Token
Function: Token can be used on multiple EVM based networks, creating interoperability and additional liquidity and/or arbitrage opportunities.
Use Case: Currently, POA20 is a bridged POA token on the Ethereum mainnet. It retains all of the same attributes, but can be used on the mainnet as an ERC20 token. Current applications include exchanging POA20 for other Ethereum based tokens on Uniswap or Bancor and providing POA20 as collateral for loans on Ethlend.
What is Possible? Using the TokenBridge, POA or POA20 could be bridged to multiple networks to leverage different cross-chain purposes. As more networks with specific use cases (ie file storage networks, land registration networks) continue to proliferate, the ability to move tokens between chains to leverage different services becomes possible.