MELD — Multichain Integration
Crossing Borders: MELD Integrates with Multichain for Seamless Interoperability 🖇
We are excited to announce our latest integration with Multichain (formerly Anyswap)! 🥳️
MELD is excited to announce a new integration with Multichain, a cross-chain router protocol that is working to become the ultimate router for Web 3. With each blockchain having its own unique set of services, community, and development ecosystem, MELD requires a strong bridging partner to provide its protocol & token across all chains.
What is Multichain?
Multichain is a bridging platform for cryptocurrencies, NFTs, and messages across blockchains that lets users bridge via pegged tokens or liquidity pools. It supports most blockchains, including Ethereum-like chains, Layer 2 chains that require finality to Ethereum, networks of Parachains, Bitcoin-type chains, and COSMOS chains. It is also universally applicable as an interoperable layer, with support for all ECDSA and EdDSA encrypted chains.
One of the key ways that Multichain is revolutionizing the crypto space is through anyCall, a cross-chain messaging protocol that allows users to send messages and data between different blockchain networks. This enables decentralized applications to communicate and exchange information across different blockchain platforms, unlocking new possibilities for decentralized collaboration and coordination.
Multichain is now the leader in the cross-chain field, with a rapidly expanding family of chains (currently 81), a Total Value Locked of more than $1.6 billion, and its thousands of daily users being a testament to its popularity and security. It is also an open-source protocol, which is essential for being properly described as decentralized, and it operates on the principle of trustlessness. Anyone can use Multichain’s cross-chain services, which are controlled by code and do not rely on Externally Owned Addresses as a weak link
MELD x Multichain
With Multichain, we will bridge the MELD token initially between EVM chains and eventually to and from Cardano, once the infrastructure & endpoint has been built for it. We will be actively working with the Multichain team throughout 2023 to establish the most decentralized, cost-efficient, and secure way to bridge our token and we are excited to be working with bridging experts in this endeavor.
The security and reliability of this bridge are of the utmost importance, considering the numerous bridge hacks that have occurred over the last 2 years in the industry. We have chosen Multichain because of the several measures they have taken to prioritize and improve their security protocols. With regular internal and external audits by companies such as Trail of Bits and PeckShield as well as a security fund set aside to compensate users for any potential loss of assets due to potential vulnerabilities in the MultiChain system. In addition, they have a generous bug bounty program that rewards up to $2 million for the identification of vulnerabilities.
In addition to bridging the MELD token between chains, MELD will also be working with Multichain and KyberNetwork to enable cross-chain swaps directly from the MELD application. This will allow users to easily and seamlessly swap MELD tokens across different chains, further increasing accessibility and usability for our community.
We believe that this partnership with Multichain is a major step forward for MELD’s blockchain-agnostic future and we are excited to see what the future holds. Thank you for your continued support and stay tuned for more updates on our progress!
Once again, thank you for your support and we look forward to helping you #BeYourOwnBank.
MELD — Be Your Own Bank
We think it’s essential for everyone to gain control of their financial lives and have equal access to financial instruments used by professionals, not just centralized institutions, governments, or the 1%. We want to provide financial freedom and control to the masses, including the unbanked.
We have a long-term goal to enable the $15 trillion that is currently locked out of the global economy, including 2 billion individuals worldwide that are either underbanked or have no access to banking services whatsoever, access to these tools. These are the people that are paying the highest fees, and getting the worst customer service, and they are the ones that are having the most problems.
Our vision is to create an ecosystem that empowers individuals to regain financial control by providing them with the tools and services they need to manage their money on their terms. Whether that be creating a collateralized debt position (CDP) with cryptocurrency, earning an interest return for lending fiat to borrowers, or even participating in reward incentive programs, we strive to provide our users with the functions they need to manage their own financial lives.
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