What is Multichain (MULTI)? Detailed information about the Multichain project and MULTI coin

Multichain is the leading project in the field of asset transfer bridges. Today, let's find out detailed information about this project

What is Multichain (MULTI)?

Multichain is a cross-chain bridge development project that allows users to move crypto assets between different blockchains. When launching a project called Anyswap, after a period of operation, the project decided to rename the project to Multichain.

Currently, Multichain supports up to 65 different chains.

The total transaction volume on Multichain has reached $88 billion , supporting nearly 3,000 thousand tokens and has a TVL of about $2.28 billion .

Main components of Multichain 

The project consists of the following key components working in conjunction with each other:

  • Explorer : allows users to track the status of their transactions on the Multichain blockchain.
  • Router : allows users to transfer tokens between all blockchains supported by Multichain.
  • Security Model : uses technologies including thresholded distributed signature algorithms and multi-party computation to ensure the security of funds transferred.

Highlights of Multichain

  • Multichain integration opportunity for many tokens

Multichain offers new projects the opportunity to link their tokens to multiple blockchains with just a few simple taps.

  • Free Token Listing

Projects can request to list their tokens on Multichain completely free of charge.

  • Quick Deployment

Deployment time ranges from three days to a week.

  • Simple integration

Cross-chain services allow convenient integration with the list of supported tokens available on the Multichain website.

  • Supports most prominent blockchains

Multichain allows users to easily move assets between multiple existing popular blockchains.

How does multichain work?

Data-from-ETHWExplorer

When a user wants to transfer “TokenX” from blockchain A to blockchain B, a smart contract locks the asset (TokenX) on (blockchain A). Next, it mints a corresponding asset on (blockchain B).

Multichain User Manual

Step 1 : Go to https://app.multichain.org/#/router

Step 2 : Select “ Connect Wallet ” to connect the wallet.

Select "Connect Wallet"

Step 3 : Select the blockchain you want to use.

Select the Blockchain you want to use

Step 4 : Select the token, and blockchain you want to bridge.

Select the token, and blockchain you want to bridge

Step 5 : Select “ Approve Token ”, then confirm on the wallet.

Select "Approve Token"

Step 6 : Select “ Swap ”, then confirm on the wallet to complete.

Select "Swap"

Basic information about MULTI token

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

Token Allocation

Updating…

Token Release Schedule

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What is MULTI token used for?

MULTI is the project's native token. Current use cases for MULTI include:

  • Governance : MULTI can be staked to receive veMULTI , allowing owners to vote and participate in ecosystem governance.
  • Receive Fees : 45% of bridge fees will be distributed as rewards to MULTI token holders every quarter.

MULTI token storage wallet

You can store this token in the following wallets: Exchange Wallet, Metamask, Coin98 Wallet, Trust Wallet, Ledger, Trezor, etc.

How to earn and own MULTI tokens

Buy directly on supported exchanges.

Provide liquidity to get rewards.

Investors

In a recent funding round, Multichain raised up to 60 million USD with participation from leading investment funds such as: Binance Labs, IDG Capital, Sequoia, DeFiance Capital, Circle Ventures, ...

Investors

Where to buy and sell MULTI tokens?

Currently MULTI is traded on many different exchanges with a total daily trading volume of about 1 million USD. Exchanges that list this token include: Binance, MEXC Global, Huobi Global, Gate.io, Sushiswap, Pancakeswap, ...

Roadmap

Items that will be developed by the project in the near future:

Scope of business

  • Support for more chains and crypto assets
  • Support blockchain ecosystem innovations
  • Supports multi-party interoperability within Web3

Technical development

  • MPC-based signature algorithm supporting ED25519
  • AnyCall cross-chain contract support for third-party developers
  • Research on MPC networks and reliable computing
  • Research on the public MPC blockchain network, which will be the infrastructure that provides public, public trust services
  • Develop participatory research in MPC and trusted computing with leading academic institutions

Ecosystem

  • A variety of incentive programs to support mo8i1 ideas, 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

Vision

  • Become the ultimate, indispensable router in web3

Summary

Multichain is a project that provides a bridge solution that allows users to move assets between different blockchains. Multichain is the leading project in the field when it comes to supporting up to 65 different blockchains.

Through this article, you must have somewhat grasped the basic information about the project to make your own investment decisions. FoxCryptoNews is not responsible for any of your investment decisions. Wish you success and make a lot of profit from this potential market.


Oct 18, 2022

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