Jan 11
veMULTI Enter the New Year
Over $542K USDC to be sent in Q1 2023
As we enter 2023, veMULTI — MULTI staking mechanism is starting a new year. In Q1 2023, 45% of the Multichain cross-chain fees from Q4 2022 will be dispersed in USDC to all veMULTI holders on three chains, including Ethereum, Fantom, and BNB chain. The new round of rewards distribution will be started from January 12th at 2:00 AM UTC. Check the details as follows:
- Q4 2022 Multichain bridge fees: $1,311,877.80
- Q4 2022 Multichain bridge cost (gas fee): $105,689.00
- Q1 2023 veMULTI rewards: $542,784.96USDC ($1,206,188.80*0.9/2)
Note:
- Multichain overall bridge fee for Q4 is $1,486,613.00. Due to the price drop in Q4, the actual bridge fees are $1,311,877.80.
- According to per agreed proposal, 10% of bridge fees will be set aside for Safety Fund.
What’s the current APR and how it comes?
Following a year of development, veMULTI is now being implemented on three chains (Ethereum, Fantom, BNB chain), each of which has the same juicy APR% at 22% (as of Jan 10th).
Anyone who stakes MULTI will receive a veNFT of veMULTI, the power of which is determined by the MULTI amount and the locking duration.
Click HERE to check the calculation formula for veMULTI power and rewards.
veMULTI Contract on Ethereum:
https://etherscan.io/address/0x65ef703f5594d2573eb71aaf55bc0cb548492df4
veMULTI Contract on Fantom: https://ftmscan.com/address/0xE564cBcD78A76fD0Bb716a8e4252DFF06C2e4AE7
veMULTI Contract on BNB chain:
https://bscscan.com/address/0x3f6727DefB15996d13b3461DAE0Ba7263CA3CAc5
For more information, please follow our Twitter https://twitter.com/MultichainOrg or join our TG community https://t.me/anyswap
