Circle CCTP x Multichain anyCall: The Value Router of Web3

We are delighted to announce that Multichain anyCall has successfully integrated with Circle’s Cross-Chain Transfer Protocol (CCTP) on mainnet for Ethereum and Avalanche. This integration provides us with the ability to offer a seamless and chain-agnostic development experience to builders and users across the Web3 ecosystem.

Multichain is a decentralized cross-chain infrastructure, secured by SMPC and ZKP, that supports diverse blockchains in communicating with one another. The integration of CCTP and anyCall enables USDC to become the de facto routing asset of Web3, connecting the segregated DeFi ecosystems. With anyCall, the cross-chain messaging protocol, dApps can call a smart contract on another chain, while CCTP allows the dApp to route the value in the cross-chain smart contract call. This opens up the potential for multi-chain native dApps and allows for greater interoperability between different blockchain networks. For instance, a dApp on Avalanche can now collateralize assets in Aave on Ethereum before performing other defined operations.

Our vision for CCTP x anyCall extends beyond the current Web3 ecosystem. All assets denominated by USDC can now be swapped with each other using USDC as the routing asset and value bridge. This feature means that new assets, including Real World Assets (RWA) such as tokenized stocks and bonds, will be able to access DeFi tools and liquidity across all chains easily. Therefore, the integration of CCTP x anyCall paves the way for RWA to be imported into the DeFi industry, which could take the DeFi ecosystem to a much higher level.

Advantages of CCTP X anyCall:

• Streamlined User Experience

anyCall is free to use, with users only needing to pay the gas fee of the destination chain using the gas coin of the source chain. To further simplify the process, dApp teams can pre-deposit gas fees for their end users on the destination chain.

• Enhanced Security

Multichain’s MPC network, consisting of 21 nodes (available at https://scan.multichain.org/#/network), ensures that USDC is correctly burnt on the source chain before executing requests on the destination chain, in addition to Circle’s CCTP.

• Support for Heterogeneous Chains

Multichain protocol supports both EVM and Non-EVM chains, such as Solana, Cosmos, Cardano, and Near. As the CCTP expands to other Non-EVM chains, anyCall can expand and support seamlessly.

• Mature Development Tools

The Multichain Explorer (available at https://scan.multichain.org/) enables users to trace all transactions. Additionally, the developer guide https://docs.multichain.org/developer-guide/usdusdc-cctp-x-anycall offers easy-to-integrate instructions for developers.

Several scenarios developed by our partners such as Interport.fi are ready to launch on mainnet soon:

• Cross-chain swaps: Users will be able to effortlessly perform cross-chain swaps across assets that exist on distinct chains. The routing and execution on the destination chain will be completely abstracted from the user, resulting in a seamless one-click experience.
• Multi-chain DEX liquidity aggregator: In instances where the liquidity of all DEXes on a single chain is insufficient to provide tolerable slippage, the DEX liquidity aggregator can split a transaction into several smaller ones and route them to other chains to achieve tolerable slippage for a larger transaction. Users need not concern themselves with the details of the swap, as the result is optimized.

Additional use cases, such as cross-chain lending, multi-chain native NFT issuance, and multi-chain native DEX with shared liquidity across multiple chains, are currently in development. We invite potential partners to collaborate with us in exploring innovative scenarios to expand the scope of CCTP x anyCall.

The Multichain Ecosystem Fund will be providing grants or investment to projects that develop any useful scenario.

In essence, the integration of CCTP with anyCall empowers developers to streamline cross-chain value transfers that are both effortless and customizable, thereby enabling cross-chain user experiences that were previously unattainable. In forthcoming articles, we will showcase our partner’s dApp that employs CCTP x anyCall. Meanwhile, end-users can already access the mainnet bridging dApp at this link: https://usdc.multichain.org/usdc