Multichain Security Fund
Multichain has always put security first. In order to protect users’ assets from potential risks brought by unknown vulnerabilities in the Multichain system and services, and to create a favorable environment for the development of the Multichain ecosystem, Multichain has decided to set up a security fund.
About the Fund
On 17 March 2022, the Multichain Security Fund was officially established. From 17 March onward, 10% of Multichain’s monthly transaction fee will be set aside for the security fund.
Scope of Use
This fund is mainly used to compensate users for any potential loss caused by vulnerabilities in Multichain systems and services. This provision, however, does not apply to user losses caused by project partners’ systems/services, misoperations by users themselves, or risky operations by users themselves through negligence.
When risks occur and users indeed suffer from losses, Multichain will jointly investigate the incident with a third-party security agency, to analyze and identify the causes of the loss. An analysis and compensation plan will be displayed in the Multichain community.
Multichain will strictly follow the terms of the fund, to effectively protect the legitimate rights and interests of Multichain users. Multichain will keep exploring methods to further bolster the security of users’ assets while offering better cross-chain services.
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. As a cross-chain infrastructure, Multichain facilitates interoperability across different networks and enables seamless transfers of assets and values. With a constantly growing family of non-EVM and EVM chains (now 36), Multichain is the leader in the cross-chain field. Its sustained daily volume of more than $200 million, its Total Value Locked in excess of $6 billion and its thousands of daily users are testament to its popularity and security.