Summary:
Multichain (previously Anyswap) and its subsidiary MultiDAO, have been a long-time allies of Curve Finance and its ecosystem. We are the largest bridge and blockchain interoperability protocol by TVL and volume and our anyCall framework has been used by Curve Finance to achieve cross-chain gauges.
We recently launched multiBTC as a fully backed derivative of Bitcoin, which can be used to bridge from the Bitcoin Mainchain to other chains. We will support the ability to redeem multiBTC even if we deprecate the wrapping function for the conversion of BTC to multiBTC and provide support for this redemption until all BTC have been redeemed. We have demonstrated this capability with anyBTC on BSC, and it has worked without any issues.
Since Curves AMM is the backbone of DeFi, we want to make multiBTC tradeable and exchangeable for other BTC derivatives and incentivize deep liquidity.
This is why we want to add multibtc3CRV to the Gauge Controller.
Pool: <0x2863a328A0B7fC6040f11614FA0728587DB8e353>
Gauge: <0x0A13654e7846Fbbd6fBc9F409AA453739bBADb74>
multibtc3CRV-Gauge Controller vote
References/Useful links:
- AnyCall solution adapted by Curve for cross-chain gauges: [here]
- Largest bridging protocol: [here]
- Multichain Documentation: [here]
Protocol Description:
Multichain enables seamless cross-chain interoperability across multiple chains, allowing different blockchains to transfer data and assets freely between them. Our anyCall solution allows cross-chain function calls and has been adapted by Curve for cross-chain gauges. Furthermore, we are the largest bridging protocol in the space, by TVL and by volume!
Motivation:
In light of the upcoming sunset of renBTC, we want to deploy a metapool that consists of 50% sbtc2 and 50% multiBTC. multiBTC is a derivative of BTC, that is fully backed with BTC and can be redeemed on the Bitcoin Mainchain in a decentralized and trustless way, even if the wrapping function is deprecated.