The EVM-based solution has ambitions of becoming a major player in the world of cross-chain defi in 2021, enabling the smooth flow of assets between blockchains via proxy-tokens such as wanBTC, wanEOS, wanXRP and wanDOT. There are now 6 blockchains supported by Rubic’s Multi-Chain Swaps: BSC, Ethereum, Polygon, Avalanche, Moonriver and Fantom.
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Cooperating with numerous DEXs for expanded exchange options allows Rubic to choose the best rates for their users, so they rest easy while getting the lowest possible transaction fees.Īfter their successful integration of the Avalanche network, they completed their full integration of Moonriver and Fantom into rubic.exchange. The swap process is very simple, as users don't have to take part in endless transactions in order to get their desired assets. Rubic is a Multi-Chain protocol, which allows users to swap around 10,000 assets between 6 blockchains in seconds, and in just one click. While there are a multitude of cross-chain projects making interoperability possible, the following five look set to have a breakout year in 2021.
Thankfully, the industry moves at something approaching warp speed, and a number of recent innovations have facilitated interaction between once incompatible platforms.īetween cross-chain liquidity networks, cross-chain wrapped assets and swaps, and data oracles that connect disparate blockchains with real-time price feeds and APIs, the industry has come a long way in a short timespan. The article has been edited on June 22, 2022.It seems like only yesterday that the crypto community was bemoaning the siloed design of blockchains. Binance exchange currently bears no responsibility and is not connected to any of their tokens. Other co-investors in this round include Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures and HashKey.ĭisclaimer: Only Binance Labs is a strategic investor of MultiChain. This includes expanding the R&D team, especially the crypto algorithm research team, the security Audit team and the Service team who helps new users and blockchain ecosystems integrate with Multichain.
The funds will be used to help grow the Multichain teams and ecosystem. BSC will promote Multichain and support it to bridge bToken across networks, and will explore deeper technology and liquidity integrations together with Multichain. In addition to the financing support from Binance Labs, Multichain is also building a stronger partnership with BSC. We are excited to deepen our partnership with Multichain and work closely with the team to build out our shared vision." Peter Huo, Investment Director at Binance Labs, added: "Multichain is a key contributor to the multi-chain future for crypto. We will remain on the frontline of cross-chain research,” said Zhaojun, the Co-founder of Multichain.īill Chin, Head of Investment at Binance Labs, said: “Binance Labs invests in disruptive innovations that have incredible potential to shape the crypto landscape, which is why we are fully supporting the Multichain." Aligning with our plan to improve Web3, Multichain will integrate NFT Cross-Chain Bridge and our new an圜all solution for arbitrary cross-chain contract calls, supporting innovative NFT and DeFi DApps in cross-chain ecosystems. “Multichain now is the cross-chain infrastructure that connects more public blockchains and crypto assets than anyone else, with lower transaction fees, shorter bridging time, and higher security levels. The Total Value Locked (TVL) on Multichain, whose number of users exceeds 300,000, is more than $5 billion, with over 1,000 crypto assets circulating among different mainnets.
Multichain provides interconnecting infrastructure for many mainstream public blockchains, including Ethereum, Binance Smart Chain, Avalanche, Moonriver, etc.
The funds will be used to support the Multichain ecosystem and its internal teams, including R&D, Audit and Service.īinance Labs, the venture capital and incubation arm of Binance, led the recent $60M financing round for Multichain, formerly known as Anyswap, an industry-leading cross-chain protocol. In addition to financing support from Binance Labs, Multichain is also building a partnership with BNB Chain (former BSC). Binance Labs led the recent $60 million financing round for Multichain, which recently rebranded from Anyswap.
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