Curve x anyCall ➡️ Cross-chain gauges, first anyCall use case revealed!
Pushing the boundaries of multi-chain universe
Here comes the first anyCall use case! anyCall empowers Curve to build a unified CRV rewards mechanism. This allows Curve to create gauges on other chains. It means now veCRV holders could vote for them to assign CRV to them and then stakers on respective chains would receive it. Simply put, the easiest and most efficient solution for assigning CRV rewards!
The voice of Curve community: cross-chain gauges to spread CRV love on side chains and L2
Ethereum L1 is the main chain where veCRV exists and governance happens, however it’s inevitable that Curve expands on other EVM compatible chains as Ethereum remains expensive to use and out of reach for many users discovering the wonderful world of DeFi. Now Curve is deployed on Fantom and Polygon with other chains planned. One issue with this is that finding deep enough liquidity without a new token or rewards can be difficult for Curve when a lot of protocols can offer high APYs as they launch and begin their emission schedule. To address this issue, Curve initiated and passed the proposal of “cross-chain gauges”.
How does Curve leverage anyCall to make this happen?
With anyCall, Curve can assign CRV rewards for veCRV holders more efficiently than ever. Before, liquidity pools on different chains were fragmented and Curve had to calculate and assign rewards separately. Under cross-chain gauges, CRV rewards are determined by the aggregate number of liquidity pools on multiple chains. There’s no need to pre-allocate rewards on different chains.
For example, when one staker seeks to claim CRV rewards on Fantom, the cross-chain gauges will calculate rewards based on those specific liquidity pools on Ethereum and Fantom.
Let’s put it more specifically:
In terms of CRV rewards, Curve deployed the Root Liquidity Gauge and Child Liquidity Gauge contracts on Ethereum and Fantom respectively, to keep track of the liquidity.
- Liquidity providers claim CRV rewards on Fantom and make a request to the Fantom Child Liquidity Gauge contract.
- Child Liquidity Gauge contract calculates the user’s Power value and liquidity pool on Fantom, and then submits cross-chain requests by calling the anyCall API on Fantom.
- anyCall sends “messages” to the API contract deployed on Ethereum, by which to call the Root Liquidity Gauge contract deployed on Ethereum to deliver the requests and related Power data.
- The Root Liquidity Gauge contract receives the ‘message’ and calculates the rewards. Meanwhile, the Root Liquidity Gauge calls the CRV mint contract to mint CRV.
- Minted CRV cross back to Fantom and transfer to the Child Liquidity Gauge contract.
- The Child Liquidity Gauge contract sends rewards to users.
More cross-chain integration on anyCall with Curve will be released! Stay tuned!
Thanks to the joint efforts made by Curve and Multichain team. All worth it!
Shout-out to Edward Amor from the Curve team who made great contributions to this cross-chain gauges magic!
Special thanks also goes to Andre Cronje. Curve and Multichain developed the latest anyCall protocol based on Andre Cronje‘s work released in 2021 March.
What’s the next anyCall application? We’ll find out very soon!
- Universal cross-chain communication
- Secured by the MPC network
- Easy integration
- Backed up by the Multichain ecosystem
Click here to learn more about anyCall.
Curve is DeFi's leading AMM, (Automated Market Maker). Hundreds of liquidity pools have been launched through Curve's factory and incentivized by Curve's DAO. Users rely on Curve's proprietary formulas to provide high liquidity, low slippage, low fee transactions among ERC-20 tokens.
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.