Multichain AMA Recap
This post recaps the AMA with Multichain, formerly known as AnySwap that took place on the Mogul Official Discord Server on Monday, January 3rd.
Intro: Welcome to the AMA @everyone! Happy new year!
Today we’re going to be joined by @Marcel from Multichain, formerly known as AnySwap. He’ll be answering everyone’s burning questions about the Multichain and so much more.
I’d like to welcome @Marcel to the channel. I know some of the community have already met Marcel in an AMA before, but for those who haven’t, it would be great if you could introduce yourself and tell the community a bit about what you do at Multichain.
Marcel: So pleased to return to you! A very Happy New Year to you all. I hope that 2022 allows me to see the first Mogul production. That will be truly exciting.
I'm here to let you know the latest developments in our platform, now known as Multichain and to answer any questions that you may have and maybe to explore how we can work together in the future.
Q1: That's awesome! This is our first AMA for 2022 and we're so thrilled to have you here today.
Let's start this question, what was the reason for the rebranding and how did you come up with the name Multichainsw?
Marcel: We have changed a lot since we started in July 2020. Back then we were a DEX that did cross chain. We decided to refocus on crosshain only. We needed to let everyone know this by changing our name from Anyswap to Multichain, but we also needed to create our base on Ethereum - same as you do with STARS. This is where most developers are and where most capital is too. Of course our new token, MULTI, is available on many blockchains.
With our rebrand, we created a new website multichain.org, with decent documentation, 24/7 Zendesk support, a new frontend p[latform which is easier to use - app.multichain.org.
We also announced $60 mm of Venture Capital funding led by Binance, our new strategic partner, a listing on Binance and announced our intention to let MULTI holders stake their tokens, to earn a share of the bridging fees (more than $100k per day) and to vote on how to use our new DAO
Q2: Congratulations on everything! What a way to end 2021 and start an exciting 2022. For our next question, For our community members who aren’t familiar, can you please give them a quick overview of what problems Multichain helps solve?
Multichain is the ultimate Router for web3. It is an infrastructure developed for arbitrary cross-chain interactions. All open source, all trustless and decentralized.
We used to focus on token swaps between chains, but now we also include NFT swaps and any type of interaction with smart contracts between block chains so developers can think of new ways of joining up all block chains and projects.
Several projects have integrated our router directly into their platform, so that users don;t even know they are using Multichain. This is the direction we want to head in.
Our aim is to make a perfect user experience, where they don't even know which blockchain they are interacting with - leveraging all that is best from each chain and the projects that are on them.
Q3: When I saw the announcement, it felt like watching the Avenger assemble scene haha
Aside from the Blockchain Metaverse Alliance, are there any partnerships in the works?
DeFi Vlad: Yes...We are always on the lookout for new partners. BiShares works best the more partners we get involved so we are always looking for partners we can help out with.
I noticed our biz dev @eznika here with me...he may chime in on some of these questions
Speaking of partnerships, we are gearing up for expansion to a new chain so there will be some partners to announce for sure
Q4: Awesome! That would be perfect for beginners in crypto and NFTs. It would lessen mistakes and losses from their end.
Now that we're talking about blockchains, do you plan on having a NFT Bridge and Router for other BEP-721 and BEP-1155 smart contracts?
Marcel: We have a new NFT router developed by André Cronje of Fantom. Developers can now bridge NFT's between blockchains. The first implementation was Artion on Fantom, allowing NFT's to be bridged from and to Ethereum, but we now have Pink Flamingo and several more coming. I can see how our BFT bridge would work well on Mogul. I see a lot of discussions here about NFT's.
Both 721 and 1155 standards are supported.
Let's see how we can work together to make this a reality for Mogul.
Q5: Yes! We're already partners with our STARS bridge and I'm sure that the community would love to see more from Mogul and Multichain.
Let's move on to the next question, with the explosive growth of both the DeFi and NFT space in 2021, Do you see there being an appetite from other projects looking to launch their tokens so they are cross chain compatible like Mogul. For example, how we offer our community both ERC-20 and BEP-20 STARS tokens.
Marcel: My colleagues and I spend most of our time talking to projects who want to be multi chain. New projects want to start straightaway on multiple chains. We now have more than 1,100 tokens on our Router and more than $5.5 B value crosschain. It is the new normal.
Mogul were early!
Q6: We had our first AMA with you mid-last year and it was amazing to see the growth of Mogul and Multichain. Hoping to see more in the next coming months!
Some people might not be familiar with these terms, can you tell us a bit about the SMPC Network and nodes?
Marcel: Of course! Moving between chains is not a simple task. The main issue is security, and we have seen some terrible exploits in the past. The way that we are trustless is to use our MPC network of nodes. They alone can sign transactions allowing cross chain interaction. Each node only ever knows a part of the private keys to do this. This distinguishes us from our competitors - no Externally Owned Wallets are involved - that together with the fact we are open source makes us the only verifiably decentralized bridge network. Soon anyone will be able to run an MPC node.
MPC == Multi Party Computation
You can see our MPC network at anyswap.net
Q7: Amazing! For my last question before I give the floor to the community, can you please share some of Multichain's plans for 2022?
Thank you Naj. Yes - our first task is to start staking on MPC nodes and to include governance of our DAO using ve MULTI in a similar way to how Curve works now. In parallel we will continue to integrate new chains - Solana's Neon, more COSMOS chains (we do Terra now), Moonbeam and other Polkadot chains. We have by far the most volume of any Router today and we will stay ahead of the pack - we LOVE working with new projects. It is the best job in crypto.
We see each project as our partner - like Mogul. Where shall we go next?
We won't dictate what that direction should be - we talk to you and others and chart a new course.
Q8 (@Barcell1): Is it possible to change from polygon to BSC without paying eth fees ?
Marcel: Absolutely! We have very many routes between Polygon and BSC. Most users bridge stable coins, including USDC, USDT, MAI, MIM, FRAX etc. Fees are often a flat $0.90
Q9 (@Bengss): What will you do differently to secure investments?
Marcel: We did not approach anyone for investment to be honest. We are obviously thrilled to have been asked to partner with Binance and others. They see we work hard and are true to the spirit of crypto.
Q10: I guess they don't have any questions anymore haha
I'd like to thank @Marcel for taking time in your busy schedule to join us today. Can you please share your new website link and socials so our community can check your new site and socials.
Marcel: Thank you Naj and all of you! I'm delighted to return here and to see you thriving.
You can visit our website at multichain.org and join our Telegram chats (including our new DAO chat). All links are on the website
Talk to us - how about an NFT bridge? Let's get this ball rolling
Have a great 2022 movie makers!