What is Multichain?
Multichain, formerly Anyswap is the world’s leading cross-chain protocol. As a Multichain pioneer that provides connection infrastructure for major public blockchains including Ethereum, Fantom, BSC, Avalanche, Moonriver,…
Its daily sustained volume is over $50 million. Its total locked value of nearly 6 billion dollars (time of announcement) and its thousands of daily users are testament to its popularity and security.
What’s special in Multichain?
Based on Anyswap, Multichain improvements include:
- User Experience: All-in-one cross-chain interface.
- Cross-chain Speed: Four times faster than before with an average transaction time of 100 seconds.
Multichain leads in security, cross-chain speed and cost. Since its inception in 2020, positioned as a cross-chain DEX. The platform gradually evolved into Multichain, a cross-chain router protocol (CRP) that provides a real-time CRP system, allowing interoperability across multiple networks.
Project provides an advanced and real-time Cross-Chain Router Protocol (CRP) system that supports cross-chain interoperability of tokens, NFT , and shared data across multiple chains.
To ensure the security of its system, Multichain takes the following measures:
- The MPC + Non-custodial model technically guarantees the security of crypto assets. Project audited by TrailOfBits, SlowMist and PeckShield.
- Set up a bug bounty program to encourage valid bug reporting from the community.
- A security fund has been established to protect the operation of the system and provide financial security in the event of unforeseen risks.
MULTI Tokenomics
Key Metrics
- Ticker: MULTI.
- Blockchain: Ethereum.
- Contract: 0x65ef703f5594d2573eb71aaf55bc0cb548492df4.
- Token Standard: BEP-20.
- Token Type: Utility, Governance.
- Circulating Supply: 18,639,320.00 MULTI.
- Total Supply: 100,000,000 MULTI.
Token Allocation
MULTI is allocated in 60%, 30% and 10% with different lock times for each section.
Token Release Schedule
The non-circulating MULTI tokens (81,360,680 MULTI, 81.36% of the total supply) are locked in the MultiDAO smart contract and its specific use is determined by the DAO.
Token Use Case
- Governance
Investors
Project raised $60 million in a funding round led by Binance Labs . Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures and HashKey also participated in the round.
BSC awarded Multichain and 5 other projects $350,000 each in October 2020, as part of its accelerator program.
Roadmap
Some plans on the roadmap are provided by the project side:
- Supports more chains and crypto assets.
- Support blockchain ecosystem innovations.
- Supports multi-party interoperability within Web3.
- A range of incentive programs to support emerging innovations, partnerships, and the Web3 community.
- Expanding the global Multichain community, enriching token usage scenarios and enhancing DAO governance.
- Building a global CRP (Cross-Chain Router Protocol) ecosystem.
The most recent updates on Multichain are as follows:
- Release of anyCall use case for Fiver For Gas, a one-stop cross-chain gas swap powered by V4 anyCall product.
- Deploying the veMULTI network to Fantom matches the voice of the Multichain community.
- Launched veMULTI on BNB Chain.
- Integrate BNB Application Sidechain (BAS) to provide interoperability solutions.
- Integrate onXRP to support XRP interoperable with other blockchains.
- Become the 6th member and whitelisted organization of TRON DAO Reserve.
- USDD support is connected between 7 chains.
- Cross-chain trade volume of Multichain exceeds $80 billion.
About Multichain
- Website: https://multichain.org
- Twitter: https://twitter.com/MultichainOrg
- Discord: https://discord.com/invite/sxqcWn7std
Final thoughts
Multichain is a project that provides a bridge solution that allows users to move assets between different blockchains. Multichain is the leading project in this field when it comes to supporting up to 65 different blockchains.
Hopefully the basic information about the project will help you get an overview of the project and please consider the article for reference purposes as it is not investment advice.
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