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Multichain Announces Partnership With Gelato

Twitter icon  •  Published vor 1 Jahr  •  Hassan Maishera

The Multichain team announced via a Medium post on Friday that Gelato will support its cross-chain staking rewards payout.

The Multichain team announced via a Medium post on Friday that Gelato will support its cross-chain staking rewards payout. Multichain explained uses a Curve-inspired vote escrowed (VE) token model, which incentivizes users to lock up Multichain’s governance token MULTI and mint vote escrowed token (veMULTI) and receive rewards from the system. Multichain added that it leverages Gelato to automate the execution of the checkpoint function so that their veMULTI holders can always claim their rewards on time. 

Multichain, previously known as Anyswap, is a decentralized cross-chain swap protocol and bridge infrastructure. The Multichain platform supports multiple blockchains, which enables users to swap and bridge tokens across numerous chains on one platform.

MULTI, the native token of the Multichain ecosystem, is down by 2% in the last 24 hours and currently trades at $4.01. 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.