manhattanweek.com CRYPTOCURRENCY

manhattanweek.com CRYPTOCURRENCY

SINGAPORE Multichain announced Fiver For Gas, another scenario powered by its V4 product anyCall. Fiver For Gas is a one-stop cross-chain gas swap that enables the direct swap from users’ DAI on source chain to gas tokens on destination chains. With Fiver For Gas, cross-chain transactions will be much smoother.
What problem does Fiver For Gas solve?
In the case of cross-chain transactions, users are supposed to pay the gas fee needed on destination chains, which indicates they should ensure a sufficient balance of native tokens on their destination chain addresses before conducting transactions. Conventionally, users can turn to DEX or CEX for the acquirement of corresponding native tokens of destination chains. However, the problem is that it always takes a few steps that are quite cumbersome for users to visit different interfaces and cost them a larger sum of gas fee. But now Fiver for Gas is here to solve this problem. Users can connect their BNB mainnet wallet with a minimum of 5 DAI balance to Fiver For Gas and administer the cross-chain swap operation very easily on the dapp.
How does Fiver For Gas make one-stop cross-chain gas swap possible?
Using Fiver For Gas, users can simply deposit their stablecoin holdings (DAI) on the source chain and claim the desired gas tokens on the destination chain with one single click. More importantly, users can swap the stablecoins to gas tokens native to multiple blockchains (Ethereum, Arbitrum, Optimism, BNB, Avalanche, Fantom, Polygon, Gnosis) with just one transaction, which saves them much trouble and cost. The whole process is empowered by anyCall (v4).
Fiver For Gas deploys their smart contracts on both source and destination chains. Whenever users deposit their stablecoin holdings on the source chain, the Fiver contract will make an immediate response and submit the cross-chain swap request to the anyCall contract residing there. After detecting the anyCall contract invocation, Multichain MPC nodes will check and relay the request to the anyExec contract residing on the destination chain. anyExec contract receives the request and calls the Fiver contract on the destination chain to release the corresponding gas tokens and send them to the designated addresses of users. Now this feature has been deployed on eight chains, including Ethereum, Arbitrum, Optimism, BNB, Avalanche, Fantom, Polygon, Gnosis, and with more chains supported by Fiver For Gas to come.
With anyCall, there are unlimited cross-chain Dapp possibilities. Stay tuned and learn more about how anyCall will revolutionize cross-chain interoperability!
About Multichain
Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other. The solutions developed by Multichain allow almost all blockchains to inter-operate. With the launch of anyCall, a generic cross-chain messaging protocol, Multichain takes cross-chain interoperability to the next level.

Read More…

Leave a Reply

Your email address will not be published.

four × four =