IoTeX Starts Consolidating Its Split Token Supply IoTeX has opened the IOTX Redemption Portal for holders of its older Ethereum-based token. The team announced the tool on its official X acco
IoTeX has opened the IOTX Redemption Portal for holders of its older Ethereum-based token. The team announced the tool on its official X account on Oct 13, 2026. This crypto news update explains how the process works and what holders should check first.
According to the project, the step aims to create one clean supply. The tool sits on the IoTeX Hub, which carries a beta label.
IoTeX launched in 2018 as an ERC-20 token, a common Ethereum standard. A year later, the IoTeX mainnet, meaning its main live blockchain, went live. Native IOTX then took over the core work.
It pays gas fees and settles activity on the L1 base chain. It also secures the network through staking, where holders lock coins to back it.
The 2018 contract never fully went away, so the supply stayed split across two forms. Crypto projects often run a token migration when an older contract stays active.
Source:Official X Post
The IOTX Redemption Portal asks users to follow three steps on its Redeem tab.
Connect wallet: Link the wallet that holds the ERC-20 coins.
Send coins: Transfer them on Ethereum to the official deposit address shown on screen.
Submit the hash: Paste the transaction hash, which is the transfer ID, then sign.
Signing is free and sends no transaction, the interface states. A status checker in the same tool lets users track each submission. The table below lists the key terms shown in the tool.
Detail
Stated terms
Input
Legacy ERC-20 version on Ethereum
Output
Native asset on IoTeX L1
Conversion rate
1:1
Fees
None, per the post
Delivery
Same wallet address
Network
Ethereum only for deposits
Source: IOTX Redemption Portal
Some holders keep legacy coins on a crypto exchange. Native coins return only to the sending wallet. The IOTX Redemption Portal cannot credit exchange deposits.
The guidance, posted on Oct 13, 2026, lists these points:
Withdraw legacy coins to a wallet the user controls first.
Redeem from that wallet, never from the exchange directly.
Use the Ethereum network and the ERC-20 coin only.
Transfers on other networks, or of other coins, cannot be recovered, the page warns.
Anyone already using a personal wallet can skip the withdrawal step.
For Coinbase users, IoTeX says trading is paused for now. It adds that balances remain safe and withdrawals stay open.
Alongside the IOTX Redemption Portal, the project says Revolut now supports the native coin. It describes Revolut as Europe’s largest fintech (financial technology) firm, with 70M+ customers.
Bitkub, which it calls Thailand’s largest licensed exchange, supports it too. They join Binance, Upbit, Bithumb, Kraken, and Crypto.com, which already support it.
The team links the timing to its wider goal. It says the internet connects computers, and it now aims to connect intelligence. That covers models, machines, and agents running on an open, verifiable network. It places the native coin at the core of that network.
The IOTX Redemption Portal simplifies tracking, since the native coin already handles gas, staking, and settlement. The process needs several manual steps, which leaves room for user error.
Support from large platforms matters for access, though each platform sets its own listing and withdrawal rules.
The two official posts give no deadline and no count of unconverted legacy coins. Readers should verify live details on the official IoTeX Hub before acting.
The IOTX Redemption Portal is the team’s tool for merging both coin forms. Holders should use their own wallets and confirm the network before sending anything. Later details, such as timing, should come from official channels.
YMYL Disclaimer: This article is for educational and informational purposes only. It is not financial advice, a price prediction, or a guarantee of returns. Readers should do their own research and confirm all steps on official project channels before acting.
