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This transferred liquidity through Multichain can then be deposited into the decentralized liquidity pools via the ETCswap user interface or its decentralized IPFS user interface.Ethereum Classic users are financially incentivized to help the network by transferring liquidity over to the Ethereum Classic network for no fee through the Multichain cross-chain routing protocol.This feature, including the exact percentage amounts, is hardcoded into the core contracts which remain decentralized and non-upgradable.
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To open a path to self-sustainability, the code for ETCswap includes a small protocol reward mechanism of 0.05% and a liquidity provider reward of 0.25%.So what does this all mean for Ethereum Classic participants? ETCswap Assets Earn Rewards in ETCswap Liquidity Pools Note: these assets are listed with "Multichain-Peg" in their alt descriptions. ChainID 1: Ethereum™ Foundation chain (ETH)īridged Assets through Multichain : DAI, ETH, USDC, USDT, WBTC Note: Canonical Wrapped ETC is supported in ETCswap and all protocols.
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2023 Update Note: Paxos has deprecated issuance of BUSD, you should bridge this asset back to its native chain and convert to a different stablecoin. Guide: Using MetaMask with Ethereum Classic ChainID 56: Binance Smart Chain (BNB)īridged Assets through Multichain : BNB, BUSD We expect major stablecoins like Tether USD and USD Coin to natively issue these assets on Ethereum Classic in the future as the network's hashrate continues to rise. This is done to clearly signify that the traded asset is bridged through the Multichain cross-chain router and not natively issued on the Ethereum Classic chain by the token's development team. Please note, bridged assets through Multichain are listed with the assets traditional ticker symbol but will include "Mulitchain-Peg USDC" in the alt description. No Fee transactions on Multichain Cross-Chain Router Protocol ETCswap Supports Multichain AssetsĮTCswap supports the 28 markets for these Multichain-Pegged assets. In the near future, Multichain will continue to connect blockchains to Ethereum Classic to increase interoperability with the greater blockchain ecosystem. Most cross-chain transactions complete in under 200 seconds through Multichain's easy to use interface.
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Guide: How to use Multichain Router (Crosschain) No Fees on Cross-Chain Transactionsįor the benefit of the Ethereum Classic community, Multichain offers no fees on cross-chain transactions to the Ethereum Classic network from the Ethereum and Binance Smart Chains. All of this reinforces the Ethereum Classic networks principles of decentralization and building unstoppable applications. The ETCswap protocol removes the requirement of centralized services to exchange meaningful assets with Ethereum Classic's native token Ether (ETC). This Multichain integration provides a smooth transition for meaningful assets to migrate from other chains to Ethereum Classic. Multichain has greater than $5+ Billion in total value locked (TVL) in its cross-chain routing protocol throughout 50+ chains. Multichain's integration with the Ethereum Classic network adds a well-known and heavily audited bridging solution for Ethereum Classic to the greater cryptoverse. Through development efforts on ETCswap by Ethereum Classic DAO, it is with great joy to announce that the Ethereum Classic network has a reputable interoperability solution in Multichain, the leader in cross-chain routing protocols. November 2022 Update: Ethereum Classic added to Multichain Cross-Chain Router Protocol
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All of the negative events of the previous years has further reinforced the need for truly decentralized protocols and financial products free from human greed. At the original time of writing, Multichain was the most reputable bridge in the crypto ecosystem and BUSD was the fastest growing stablecoin asset in the space. The crypto landscape has changed a lot in one year. Additionally the BUSD stablecoin asset was found to be in volation of regulations and has been deprecated by Paxos. Please note these centralization risk warnings of the Multichain Bridge from the Ethereum Classic DAO team. Always do your own research, and remember: don't trust, verify! There's "no official anything" in Ethereum Classic. Do not interpret any content as an endorsement of any product or service. The content on this website is user-generated and solely for informational purposes.
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