IIP-48: CIOTX – A Unified Cross-Chain Token Standard for the IoTeX Network

Governance Proposals IIP Discussion
1 
- Title: "IIP-48: CIOTX – A Unified Cross-Chain Token Standard for the IoTeX Network"
- Author: Qevan Guo, Chen Chen, Seedlet
- Status: Draft
- Type: Standards Track
- Category: Token / Governance
- Created: 2025-02-12
- Updated: 2025-06-05

Abstract

The IoTeX ecosystem currently features multiple representations of the IOTX token, leading to user confusion and integration complexity. This proposal aims to unify IOTX into a single, canonical token across major Layer 1 / Layer 2 blockchains, including Ethereum mainnet, Base and Solana, to name a few.

This proposal formalizes CIOTX as the standard cross-chain representation of IOTX. CIOTX has been in use across multiple chains and functions effectively as a unified token, differing primarily in name. It is already deployed via trusted bridging infrastructure such as ioTube and Wormhole.

IIP-48 will serve as Phase 1 of the unification. A future IIP will introduce Phase 2 which will involve the introduction of a new unified token to consolidate all IOTX variants across chains.

Motivation

Multiple versions of the IOTX token currently exist within the ecosystem:

  • Native IOTX: The native token on IoTeX L1, required to pay gas for mainnet transactions, widely traded on major exchanges (Binance, KuCoin, Gate, MEXC, etc.).

  • WIOTX: The wrapped IOTX token (XRC20 format) used for DeFi and dApps on the IoTeX L1 blockchain.

  • ERC20 IOTX: The legacy ERC20 IOTX token on the Ethereum blockchain, listed on Coinbase & Gemini exchanges. While 87% of the total supply has been burned during mainnet launch, it remains 1:1 convertible to native IOTX, but price discrepancies arise due to its limited availability on Ethereum.

  • CIOTX (Crosschain IOTX): A bridge-based version of IOTX deployed on multiple chains (Polygon, BSC, Ethereum) for cross-chain functionality.

This fragmented structure creates market inefficiencies, complicates liquidity distribution, and increases the technical burden for developers and users. A unified token standard will enhance ecosystem clarity, improve liquidity, and streamline user experience.

Token Unification Strategy

A. Formal Adoption of CIOTX as the Cross-Chain Token Standard

CIOTX has been actively used to enable cross-chain IOTX transfers across ecosystems like Ethereum, BSC, Polygon, and Solana. This proposal formalizes CIOTX as the canonical cross-chain representation of IOTX.

B. dApp and Exchange Coordination

Action: Coordinate with major exchanges, wallet providers, indexers, and dApp developers to adopt CIOTX as the primary multichain representation of IOTX. Rationale: Standardizing CIOTX across platforms ensures a unified user experience and reduces the complexity of managing multiple IOTX variants.

C. Expand and Rebalance CIOTX Liquidity

Action: Collaborate with liquidity providers, DeFi protocols, and bridge operators to expand and rebalance CIOTX liquidity on supported chains, including Solana (Raydium), Base (Uniswap), and Polygon (Quickswap). Rationale: Consolidated liquidity around CIOTX improves price discovery, reduces slippage, and promotes seamless multichain DeFi participation.

D. Legacy ERC20 IOTX Token (Phase 2 Outlook)

Action: While ERC20 IOTX remains widely held (e.g., on Coinbase), its long-term future should be discussed with the community and exchange partners. Rationale: ERC20 IOTX lacks a consistent 1:1 peg to native IOTX, leading to pricing discrepancies and market confusion. A potential retirement or migration path may be proposed in a future phase, pending consensus.

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Chain Token DEX Bridge Explorer
Ethereum CIOTX Uniswap ioTube https://etherscan.io/token/0x9F90B457Dea25eF802E38D470ddA7343691D8FE1
Polygon CIOTX Quickswap ioTube https://polygonscan.com/token/0x300211Def2a644b036A9bdd3e58159bb2074d388
Solana CIOTX Raydium Wormhole https://solscan.io/token/QUUzqeiXHxjs9Yxm33tvugvUsKr5T8vjeyV4XhVsAfZ
BSC CIOTX PancakeSwap ioTube https://bscscan.com/token/0x9678E42ceBEb63F23197D726B29b1CB20d0064E5
Base (proposed) CIOTX Uniswap Superbridge –
Unichain (proposed) CIOTX TBD Superbridge –

Design Principles

Our approach prioritizes the use of official and native bridges for each target chain, as they are generally the most trusted, sustainable, and well-integrated within their ecosystems:

  • Wormhole for bridging to Solana

  • Superbridge (the standard for L2 rollups) for Base and Unichain

  • ioTube for bridging from/to IoTeX

  • Binance CEX as a bridge to BSC (Binance Smart Chain)

These choices aim to maximize compatibility with existing dApps while ensuring long-term reliability and user trust.

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User Experience and Security Considerations

This proposal prioritizes both user safety and simplicity. By leveraging the existing CIOTX architecture, users and developers benefit from a streamlined experience without introducing unnecessary migration steps or token confusion.

User Experience

  • No Migration Required: Users are not required to swap tokens or move funds. CIOTX is already active on multiple chains, and its role is being formalized—not replaced.

  • Improved Discoverability: A unified token standard enables easier tracking on portfolio tools, DEX aggregators, and market data platforms.

  • DeFi Compatibility: Standardizing on CIOTX simplifies onboarding for users participating in DeFi protocols across Solana (Raydium), Base (Uniswap), Polygon (Quickswap), and more.

Security

  • Audits: All smart contracts used in new CIOTX deployments (e.g., on Base, Unichain) will undergo comprehensive audits from reputable security firms before launch.

  • Bridge Reliability: CIOTX is only deployed through trusted, ecosystem-native bridges:

    • Wormhole (Solana)

    • Superbridge (L2s like Base and Unichain)

    • ioTube (Ethereum, BSC, Polygon)

Conclusion

Adopting CIOTX as the unified cross-chain representation of IOTX is a practical step toward reducing fragmentation, improving liquidity, and simplifying the user experience.

By building on existing infrastructure and coordinating with exchanges, dApps, and bridge providers, we can strengthen IoTeX’s multichain presence with minimal disruption.

Future decisions regarding other token variants, such as ERC20 IOTX, will be guided by community discussion and adoption trends.

Copyright

This document and its contents are made available under the CC0 public domain dedication.

8 Likes
2

This IIP is interesting, unifying $IOTX into a single token across major L1/L2s (IoTeX L1, Ethereum, Solana, Base, BSC and more), retiring CIOTX & legacy ERC20 IOTX. This will simplify liquidity, reduce fragmentation, and enhance user experience.

I foresee a multi-chain future of $IOTX, a bright one.

8 Likes
3

This proposal is perfect :pray:t6:

1 Like
4

This will strengthen the ecosystem, and L1 is the best!

2 Likes
5

I currently have approximately 70% of my iotex in native and the other 30 in etc, which although it has sometimes benefited me by not falling so much, I also consider it better to unify it. For those who are unfamiliar with the project, it is tedious.

2 Likes
6

a fantastic decision! it feels good to be a GOAT :rocket::rocket::rocket: IoTx the future

1 Like
7

if the circulation supply of the native Iotx coin stays the same or lower then the proposal is Perfect , if not then it will be a shame for this perfect coin…

2 Likes
8

This is dangerous! Many things can go wrong!
The supply is currently 9.44B but you are proposing 10B? The investors lose with this deal. Reduce the supply if anything.

Would this require action from the investors to implement?

1 Like
9

What is the purported timeline for the “migration” to begin?

This is a project best done after the bull run of 2025 to avoid disruption to people’s wallets & token. I’ve seen a migration by DRF that did not bode well for investors. People were locked out of their tokens for months. People were diluted. This is not a good idea to take on in the midst of the bull run. Any admin who thinks so is probably trying to harm investors.

Investors Beware!

1 Like
10

This will help improve adoption and unlock the real value of IOTX. As state in 1st paragraph, hopefully 6 months from now we will no more c IOTX-E version

3 Likes
11

Great👍pls arrange for this,will get the bigger value at iotx coin👍

2 Likes
12

Wow, I know the community has been waiting for this proposal for a long time and it has finally arrived. It can help global investors have a unified user experience in using IOTX

2 Likes
13

@depin_jesus @qevan @raullen

I like this idea. tbh we should’ve did this while ago + thanks for welcoming other bridges like wormhole.

One suggestion:
If you’re doing it please make it like big celebration like near to rebrand.

I Hope exchanges respects our decision.

Like IoTeX rebrand to IOTX

2 Likes
17

This is a promising project. :+1:

But the team has been in discussions with Coinbase for quite some time, and Coinbase has so far been unwilling to support Native IOTX. Could there be a risk that Coinbase will delist IOTX after the token unification?

However either way, I think this plan should be carried out to fundamentally resolve the issue.

2 Likes
18

the whole plan should be: lets find some investors, skyrocket the token so the people stake it more and more,we become more and more secure and they eventually sell only the reward from staking because it will be enough if the tokens has value (couple dollars per token).

6 Likes
19

“Keep building” is the mantra of every good crypto. Don’t follow the price fluctuations.
That being said, it’s the exact step IOTeX needs to take to reduce user confusion and development complexity, while also improving our future positioning in the markets.

2 Likes
31

=)) is dead bro can`t u see?

36

Thank you all for all feedback and enthusiasm regarding IIP-48.

We’ve been actively engaging with major centralized exchanges (CEXes) to discuss the integration of the unified IOTX token. The response has been encouraging, with many expressing support for the unification initiative. However, as of now, we do not have concrete timelines to share for when these integrations will be started/completed (that’s why this IIP is not moving forward).

In the meantime, after several rounds of internal discussions, core team + community representatives agrees that CIOTX (cross-chain IOTX)—originally issued on IoTeX L1 and pegged 1:1 to the native IOTX—can serve as a temporary “unified IOTX.” We will share further details regarding this transitional approach in the coming weeks.

2 Likes
38

community doesn’t want that. community wants a single token, that’s all. will it be hard to solve that?

2 Likes
43

That means IIP-48 will never happen. It’s just hype and SCAM, like teams keep talking with CEXs for 3 yrs. If teams is transparent and sincere,

  1. just hard fork to eliminate IOTX-E token and force CEXs to upgrade. If CEXs not upgrade then delisted. Or
  2. No limit SWAP between IOTX-E and Native. (Currently only 1000b IOTX-E can be SWAPPED) Which is much easier.
1 Like