Multichain ethereum avalanche 60m binance labspartzcointelegraph

multichain ethereum avalanche 60m binance labspartzcointelegraph

Aligning with our plan to improve Web3, Multichain will integrate NFT Cross-Chain Bridge and our new anyCall solution for arbitrary cross-chain contract calls, supporting innovative NFT and DeFi DApps in cross-chain ecosystems. We will remain on the frontline of cross-chain research,” said Zhaojun, the Co-founder of Multichain.

Bill 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 Multichain.” Peter Huo, Investment Director at Binance Labs, added: “Multichain is a key contributor to the multi-chain future for crypto.


Ethereum is the clear leader but other blockchains are onboarding new users at a faster pace due to Ethereum’s high gas fees and low transaction speed.”Latest On Ether/USD CoinbaseMGT Capital, the company run by John McAfee, is one such firm. It said it would start to mine Ethereum in its latest bid to turn a profit. “We are more convinced each day of the growth and value of digital currencies, and our company is uniquely positioned to be a leading provider of processing power to relevant blockchains,” McAfee said in a statement. Explore Ethereum (ETH) on-chain analytics and sentiment In contrast, Ethereum – and most other popular cryptocurrencies – are backed by nothing at all.

Any project can issue new tokens on Binance Chain, and existing tokens that don’t depend on smart contracts are welcome to migrate to Binance Chain, to natively exchange on Binance DEX and gain the benefits from this low latency and high throughput network. This will inspire more economic freedom, and more projects participating in Binance DEX will help further the long-term vision of peer-to-peer cryptocurrency trading.”

As per reports, within the next few days, Binance Chain will try to replicate the supply of BNB on Ethereum, it will burn 11,654,398 BNB, as well as try to maintain the fixed supply of 200 million BNB coins.

In the interview with CCN, the Binance team said,“The first batch of 5,000,000 BNB will be allocated and deposited into an address belonging to Binance.com in order to convert the ERC20 BNB for existing owners.

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 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. Aligning with our plan to improve Web3, Multichain will integrate NFT Cross-Chain Bridge and our new anyCall solution for arbitrary cross-chain contract calls, supporting innovative NFT and DeFi DApps in cross-chain ecosystems.


Research conducted by GrandReview shows that the blockchain market is growing rapidly and there are no signs that this growth will slow down anytime soon. When blockchain was in its infancy, it was the domain of tight-knit communities, but it has now expanded to include large corporations, investors, and even local governments. But with such rapid expansion comes a new wave of challenges, especially when it comes to scalability.

Solving the Blockchain Scalability Problem

Blockchains are known to suffer from congestion and scalability issues.
This has far-reaching consequences, resulting in slower transaction processing times and increased transaction fees, resulting in a poor user experience.

This is not a problem unique to a particular chain, but it is especially evident in the case of Ethereum, the second-largest blockchain network after Bitcoin.

In order to keep the total supply of BNB constant, Binance will burn 5,000,000 ERC20 BNB as well.” The Binance team then additionally went on to explain, “BNB will be used as gas on Bin

ance Chain, to assist network transactions. Also, for background on the migration: ‘BNB will be converted from ERC20 tokens into native BNB tokens running on Binance Chain via the exchange platform at Binance.com, a pragmatic and efficient way to perform the initial token swap.” Reportedly in the past scalability and decentralization have been amongst the several criticisms received by DEXes.

In the past, a DEX has been described as a platform on which users have full control over their funds in a non-custodial ecosystem by almost a majority of developer decentralized exchanges.

SINGAPORE, Dec. 21, 2021 /PRNewswire/ — Multichain (previously Anyswap), the world’s leading cross chain protocol, raises a $60 million financing round at $1.2 billion valuation led by Binance Labs, joined by Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures and HashKey. Besides backing Multichain financially, all the supporters will be jointly involved in the project’s development at a deep level to achieve the common vision for web3.

Multichain, rebranded from Anyswap, will continue with what it has achieved to date as a router protocol for Web3.

M financing round for Multichain.

  • Multichain is one of the biggest routers on the Binance Smart Chain.
  • The fund raised will utilized in the growth of the team and ecosystem.
  • The Venture Capital and incubation arm of Binance, Binance labs, recently led a $60M financing round for Multichain, formerly known as Anyswap, an industry-leading cross-chain protocol. Multichain provides interconnecting infrastructure for many mainstream public blockchains, including Ethereum, Binance Smart Chain, Avalanche, Moonriver, etc.

    Furthermore, after rebranding Anyswap to Multichain last week, it raised $60 million in a seed funding round led by Binance Labs, this officially announced today (December 21).

    Even more, the great crypto exchange, Binance is also building a stronger relationship with the cross-chain protocol.

    He also talked about scaling Aave’s lending marketplace on Solana with EVM-compatible solutions Neon Labs, Avalanche, and Optimistic Rollup solutions Arbitrum and Optimism as part of its multi-chain strategy.

    Where do multichain aggregators come from?

    Multi-chain or cross-chain aggregators determine the best way to enable transactions across blockchain ecosystems. As such, they ease the burden on existing blockchain users and remove some of the barriers to entry for new entrants.

    An example of such an aggregator is Apeboard, which enables users to monitor their portfolios across different platforms. Apeboard supports 11 chains, including Ethereum, Binance Smart Chain, Polygon, Solana, and Terra.

    Aligning with our plan to improve Web3, Multichain will integrate NFT Cross-Chain Bridge and our new anyCall solution for arbitrary cross-chain contract calls, supporting innovative NFT and DeFi DApps in cross-chain ecosystems. We will remain on the frontline of cross-chain research,” said Zhaojun, the Co-founder of Multichain.

    Bill 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 Multichain.” Peter Huo, Investment Director at Binance Labs, added: “Multichain is a key contributor to the multi-chain future for crypto.

    Main takeaway:

    • Binance Labs led the recent $60 million financing round for Multichain, which recently rebranded from Anyswap.
    • In addition to financing support from Binance Labs, Multichain is also building a partnership with Binance Smart Chain (BSC).
    • The funds will be used to support the Multichain ecosystem and its internal teams, including R&D, Audit and Service.

    Binance 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.

    Multichain provides interconnecting infrastructure for many mainstream public blockchains, including Ethereum, Binance Smart Chain, Avalanche, Moonriver, etc.

    As the trailblazer of decentralized cross-chain service, Multichain provides interconnect infrastructure for 25 mainstream public blockchains including Ethereum, Fantom, Binance Smart Chain, Avalanche, Moonriver, Arbitrum, Polygon and Harmony. 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. It is unsurpassed in terms of speed, security and decentralization.

    Builders can create application layers on top of it to strengthen DeFi composability.

    “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.

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