SingularityDAO: Bridge Updates

Greetings Singularitarians,

Back in May of 2021 SingularityDAO launched on Ethereum with the intention of growing beyond just one blockchain and becoming truly chain agnostic. Then later that year, in December we opened a bridge to BNB Chain and began our growth there. This has already been a great success, bringing new community members and partners along the way.

From day 1 we planned to perform updates to our bridge in order to create the best possible user experience, and today the time has come for the next step on that path.

The team at Multichain have created a fantastic bridging solution that is decentralized, reliable, fast and cheap. For that reason we will be integrating their bridge into the SingularityDAO platform.

From today if you visit app.singularitydao.ai and choose to bridge you will be redirected to Multichain to perform the operation.

When V1 launches later in Q2 this experience will be fully integrated within our own dApp alongside all other Platform V2 upgrades with styling to match our soon to be revealed brand reimagining (we can’t wait to show you all).

About Multichain

Multichain has been designed to be the ultimate decentralized Router for web3. It is an infrastructure developed for arbitrary cross-chain interactions. Multichain is already compatible with a vast number of chains and will help speed us on our path to chain agnosticism. Their dedication to creating the best possible cross-chain bridge leaves our team free to focus on the growth and development of the SingularityDAO platform and products.

How the bridge works

Those of you familiar with the old bridge know that you had to claim your tokens on the other side. With the new Multichain bridge the tokens get deposited straight into your wallet — or if you press the ‘+ Send To’ button (shown below) you can even send to another wallet, simplifying the process (please do take care if choosing to use this function).

Another new function is that you can provide liquidity to the bridge in exchange for LP tokens (called AnySDAO) that in the future you will be able to stake on the SDAO platform for rewards.

To use the bridge there is the usual one-time approval TX, then the second main transaction which includes all multichain fees. Fees, both min and max amounts are shown on their dApp, as well as estimated times of arrival. You can see this in the image above.

There is a full guide on how to use the bridge here.

The future of SingularityDAO Cross-Chain

While this first implementation will be using Multichain’s own front end, with the release of SingularityDAO Platform V2 we plan to fully integrate the bridge within our own dApp. This new implementation of Multichain will greatly improve our ability to branch out onto new platforms such as Avalanche, Polygon and many others as the protocol already supports most EVM compatible protocols.

To stay up to date on future platform upgrades and everything else SingularityDAO, please make sure to join our socials.

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