Users can transfer their assets seamlessly across blockchains through its Cross-Chain Bridges and Cross-Chain Routers. Multichain supports more than 74 chains, including BNB Smart Chain, Fantom, and Harmony. This round included the Tron Foundation, Sequoia Capital, and IDG Capital. Binance also provided $350,000 to Multichain as part of its accelerator program, and Binance Labs led a $60,000,000 investment round.
The project was founded in July 2020 and, since then, has rebranded to Multichain. Multichain is an open-source, cross-chain router protocol (CRP) that lets users bridge tokens across blockchains. Let's look at how Multichain differs from other bridges and the mechanics of how it works. Until projects begin offering their own multi-chain capabilities, services like Multichain will continue to be essential. Without it, we wouldn't have today's simple experience when crossing chains. It's one of the most popular projects for bridging tokens available. If you've been chasing investments or yield across blockchains, you've likely heard of Multichain. Holders of ANY, their previous governance token as Anyswap, can convert it to MULTI 1:1. Multichain has its own token, MULTI, that will operate as a governance token in the near future. If there is no native coin, Multichain will lock up the token in a smart contract and mint a pegged token on the target chain. Multichain's Router will determine the best method for the coin you want to bridge.įor coins with native tokens on multiple chains, Multichain will swap cryptocurrencies across chains using liquidity pools. Formerly known as Anyswap, Multichain lets users bridge via pegged tokens or liquidity pools.
Multichain is a bridging platform for cryptocurrencies and NFTs across blockchains.
0 kommentar(er)
