What is Multichain(MULTI) | Data, market cap and Multichain price chart, data and market cap (MULTI) .

What is Multichain (MULTI)?

Multichain (formerly AnySwap) is a platform that provides infrastructure that develops cross-chain interaction, allowing users to convert assets and harness liquidity through bridges and cross-chain routers. Founded on 20/01/2020 under the brand name AnySwap, the project aims to become the optimal router in the Web3 ecosystem.

Multichain Highlights

• MPC and non-custody technology: Multichain cross-chain bridge processing and providing Smart contract solutions on different chains.
• Avoid slippage: Multichain’s 1:1 bridges allow users to swap tokens with zero slippage rates and eliminate AMM-related costs.
• Multi-chain router: Allows users to swap tokens between any 2 chains, which reduces transaction fees and makes it easier to transfer assets between chains.

Multichain Products

Bridge

Multichain Bridge is the first cross-chain service developed in July 2020, operating between two blockchains. There are more than 600 bridge assets that make it very easy to deploy new assets, taking only about 2 weeks.

Router

On 4/6/2021, Multichain launched Multichain router V3 beta Mainnet with the following connection features:

• Allows asset transfer between two or more any chain.
• Use Liquidity Pools for previous assets on blockchains
• Works with bridge asset smart contracts: Multichain mint assets on the chain, the assets can return to the original chain before being sent to another chain. This creates a cost-effective solution for users, especially for assets on Ethereum.
• This includes both principal assets and bridge assets (both those created from intermediary bridges).

anyCall Crosschain Contract Calls

The anyCall smart contract functionality allows projects to make cross-chain contract calls with the security of the MPC network.

Crosschain NFT Bridges and Router

Multichain now provides a bridge to NFTs (both ERC721 and ERC1155 smart contracts).

Multichain (MULTI) Token

Token Metrics

• Token Name: Multichain
• Ticker: MULTI
• Token Type: Utility, Governance
• Blockchain: BNB Chain, Ethereum, Avalanche, Polygon, Arbitrum One
• Contract:
  • BNB Chain: 0x9fb9a33956351cf4fa040f65a13b835a3c8764e3
  • Ethereum: 0x65ef703f5594d2573eb71aaf55bc0cb548492df4
  • Avalanche: 0x9fb9a33956351cf4fa040f65a13b835a3c8764e3
  • Polygon: 0x9fb9a33956351cf4fa040f65a13b835a3c8764e3
  • Arbitrum One: x9fb9a33956351cf4fa040f65a13b835a3c8764e3
• Circulating Supply: 18,363,292 MULTI
• Total Supply: 100,000,000 MULTI

Token Allocation

The project was originally called Anyswap with the governance token being ANY. Then, when rebranding and issuing MULTI tokens, this token is exchanged 1:1 with ANY and retains the original allocation.

• Swap & Trading Rewards: 25%
• Company: 20%
• Team: 15%
• Liquidity Reward: 15%
• Cross-chain: 10%
• Community & Ecosystem: 10%
• Initial Liquidity: 5%

Token Use Cases

MULTI is the governance token of Multichain. Earlier, under the name Anyswap, the project issued ANY as an administrative token. Currently, ANY token holders can convert ANY into MULTI in a 1:1 ratio. MULTI plays an important role in the ecosystem with the following features:

• Administration: From 9/5/2022, users can stake MULTI and receive veMULTI to participate in voting for protocol administration activities. Voting rights are determined by the number of MULTI and the token lockout period.

1 MULTI key for 4 years = 1.00 veMULTI 1 MULTI lock for 3 years = 0.75 veMULTI 1 MULTI lock for 2 years = 0.5 veMULTI 1 MULTI lock for 1 year = 0.25 veMULTI Users can extend the token lock time. At the end of the token lockout cycle, users can withdraw MULTI after receiving the reward.

• Get fees: MULTI owners will receive 45% of the bridge fee each quarter.

Roadmap

Business field

• Support the development and innovation of blockchains.
• Support chains and crypto assets.
• Support partner interoperability in Web3.

Technology

• Deploy a new MPC-based signature algorithm that supports ED25519.
• AnyCall cross-chain contract support for middle-party developers
• The study of MPC networks and trust algorithms.
• The study of the public MPC blockchain network, which is the infrastructure that provides common, public trust services.
• Develop joint studies of MPC and trust algorithms with leading academic institutions.

Ecosystem

• Implement incentive rewards, programs that support innovative technologies, and foster partnerships and the Web3 community.
• Expand the Multichain community globally, increase the utility of tokens and improve Multichain’s DAO governance.
• Building a global CRP ecosystem (Crosschain Router Protocol).

Development team

• Hao Wang – Managing Director at Sequoia Capital
• Xi Luo – Business Development & Operations Management
• Marcel Cure – Multichain development orientation
• Vasco Felner Pinto – Vice President, Multichain Ecosystem Management

Investment Funds

Through two seed rounds and venture rounds led by Binance Labs, Multichain has raised $120 million from 11 well-known hedge funds such as Binance Labs, IDG Capital, Sequoia, Circle Venture Three Arrows Capital, Tron,…

Conclusion

Multichain offers a bridge solution, improving interoperability between blockchains. With the goal of becoming the optimal router in the Web3 ecosystem, the project is constantly expanding and developing innovative technology to enhance the user experience.