Is anyswap a multichain?

SINGAPORE, Dec. 16, 2021 /PRNewswire/ -- Anyswap is pleased to announce that from now on, Anyswap shall be known as Multichain. Founded in July 2020, Anyswap was originally positioned as a cross-chain DEX. In early 2021, Anyswap removed the DEX function and focused on cross-chain bridge services.

What is a multichain router?

Multichain Router allows users to swap between any two chains freely. It reduces fees and makes it easier to move between chains. Multichain is a cross-chain router protocol; an infrustructure for multi-chain ecosystem, envisioned to become the ultimate router for Web 3.

How does multichain work?

For coins with native tokens on multiple chains, Multichain will swap cryptocurrencies across chains using liquidity pools. 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 has its own token, MULTI, that will operate as a governance token in the near future.

How much is multichain worth?

Public data shows the protocol has roughly $4.8 billion in total value locked. Multichain will use the funds to expand its ecosystem and team, particularly research on crypto algorithms, security and user service. Binance Smart Chain (BSC) is also putting its weight behind the protocol.