Multichain (MULTI) is a cryptocurrency that operates within a multi-chain ecosystem, where multiple blockchain networks are interconnected in a federated environment. This setup allows for permissioned access between specific entities while preserving individual network autonomy. Each network in this environment adopts a unique approach to scalability, decentralization, mechanism design, consensus, execution, data availability, and privacy, contributing to the advancement of Web3 development.
Multichain (MULTI) is a decentralized blockchain-based cross-chain ecosystem that facilitates seamless interactions between different blockchain networks. It allows users to conduct frictionless cross-chain data and value swaps leveraging an automated pricing and liquidity system. Here are the key ways Multichain is used:
Cross-Chain Swaps and TradingMultichain provides users with the infrastructure to conduct cross-chain token swaps and decentralized trading. The platform supports over 74 blockchain networks, including EVM and non-EVM chains, allowing users to transfer assets seamlessly across different blockchains.
Multichain RouterThe Multichain Router is the primary product offered by the project. It makes it simple to swap between any two supported chains freely and affordably. Developers can leverage the best aspects of each network in their creations using the Router.
Liquidity PoolsMultichain's liquidity pools provide programmed pricing and liquidity. Anyone can access public funding by adding liquidity into swap pairs. This feature is particularly beneficial for startups, as it allows them to secure access to global investment capital without significant costs.
Multiswap ExchangeThe Multiswap exchange is a non-custodial trading platform that protects users' privacy by not requesting sensitive information. Users can link their compatible wallets, such as MetaMask, to engage in trading activities.
Governance and StakingThe MULTI token is the main utility and governance token for the Multichain system. Token holders can secure passive returns by staking their tokens on Fusion, and they also gain voting power in the distributed governance system.
WalletMultichain offers a non-custodial wallet that allows users to control, protect, and monitor their digital assets. The wallet is free to download and use, ensuring users have full control over their assets.
Overall, Multichain (MULTI) provides a comprehensive ecosystem for cross-chain interactions, trading, and governance, making it a versatile tool for users and developers in the decentralized finance (DeFi) space.
To store the crypto Multichain (MULTI) tokens, follow these steps:
Use the Native Chain: Store the tokens on their native chain to avoid high fees associated with moving funds around. This approach ensures that you have control over the tokens and can use them for gas fees when needed.
Ledger Wallet Configuration: Create separate wallets for each chain you use, such as Fantom, Polygon, and BSC. Connect these wallets to MetaMask via the Ledger connection to interact with smart contracts. This approach helps reduce risk by storing tokens separately.
MetaMask Integration: Add the necessary blockchain networks to MetaMask using the RPC information from sites like Chainlist.org. This allows you to interact with tokens on different chains seamlessly.
Ledger Live Limitations: Be aware that Ledger Live might not display the balance of tokens on sidechains like Avax C-Chain, as it only looks for ETH balances. However, you can still use the Ledger wallet to store and manage these tokens.
Multi-Chain Wallets: Consider using multi-chain wallets like AnCrypto, which can simplify digital asset management across various blockchains. These wallets often provide intuitive interfaces and support for multiple chains, making it easier to manage your tokens.
By following these steps, you can securely store and manage your Multichain (MULTI) tokens across different blockchain networks.
To buy Multichain (MULTI) tokens, you can follow these steps:
Buying from a Centralized Exchange (CEX)- Choose a CEX: Select a reliable and trustworthy centralized exchange that supports Multichain (MULTI) purchases, such as Binance or Kraken.
- Create an Account: Register on the exchange's official website or app, and verify your identity with a government-issued document. Enable two-step verification for added security.
- Add a Payment Method: Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods.
- Buy USDT or Another Supported Cryptocurrency: Use your added payment method to purchase a popular cryptocurrency like USDT, which can be used to buy Multichain (MULTI).
- Buy Multichain (MULTI): Use the purchased cryptocurrency to buy Multichain (MULTI) in the spot market.
- Choose a DEX: Select a decentralized exchange that supports Multichain (MULTI) trading.
- Download and Install a Web3 Wallet: Download and set up a Web3 crypto wallet like Metamask or Trust Wallet, which is supported by the DEX.
- Transfer Cryptocurrency to Your Wallet: Transfer the cryptocurrency you purchased (e.g., ETH or BNB) to your self-custody wallet address.
- Connect Your Wallet to the DEX: Connect your wallet to the DEX by following the instructions on the DEX's website.
- Swap for Multichain (MULTI): Use the DEX to swap your cryptocurrency for Multichain (MULTI).
- Choose a Wallet: Select a reliable crypto wallet that supports Multichain (MULTI) purchases.
- Download and Set Up the Wallet: Download the wallet app and create a new wallet address or import an existing one.
- Buy Multichain (MULTI): Purchase Multichain (MULTI) directly using a supported payment method, or first buy a popular cryptocurrency and then swap it for Multichain (MULTI).
Remember to always check the fees and security measures before making a purchase.