MultiBTC $MULTIBTC

MultiBTC is a cutting-edge crypto project launched by Multichain. This innovative venture aims to bring the best of both worlds by integrating the two major blockchain ecosystems. With its unique redeemable feature, MultiBTC provides a safety net for users in case of cross-chain bridge suspension, promising unwavering support until the very end.

What Sets MultiBTC Apart

MultiBTC stands out from the crowd with its distinctive attributes:

Ease of Use

The process of minting and burning multiBTC is simple and straightforward, carried out on the Multichain router with minimal steps, requiring little to no effort from the users. Unlike other wrapping protocols, multiBTC does not require advanced technical know-how, streamlining the user experience.

Low Fees

MultiBTC offers not only the convenience of bridging BTC to Ethereum at zero fees but also an incredibly low fee of 0.1% for bridging back to the Bitcoin network. This makes multiBTC a cost-effective option as compared to many bridge protocols, such as RenBTC, which charges twice as much.

Increased Liquidity

With multiBTC, the liquidity of wrapped Bitcoin on the Ethereum blockchain is significantly improved, making it more accessible for trading across different platforms and markets.

History of MultiBTC

Multichain, originally known as Anyswap, was established on July 20th, 2020, with the aim of facilitating communication between diverse blockchains. Recognizing the unique services and communities each blockchain hosts, Multichain sought to provide a platform where these distinct ecosystems could interact. MultiBTC was introduced on December 17th, 2022, allowing holders to bridge BTC to Ethereum without any fees.

The Future of MultiBTC

With the vision to make MultiBTC the mainstream wrapped BTC, the project aims to provide more opportunities for BTC users to participate in Ethereum. By broadening the reach of BTC, MultiBTC intends to break new grounds in the cryptocurrency space.

Applications of MultiBTC

As the Bitcoin network lacks the functionality of smart contracts and does not directly support defi applications, MultiBTC seeks to rectify this. It brings Bitcoin to defi by representing BTC as an ERC