How To Use The MultiChain Platform

This article covers the steps to utilize the MultiChain Platform.

Avalanche destination gas fee has increased to $1.9

MultiChain Platform

Multichain is the ultimate router for web3. It is an infrastructure developed for arbitrary cross-chain interactions.If you prefer a quick video, a tutorial on bridging USDC from Fantom to BSC can be found below:

Getting Started — Access The MultiChain App

The app can be accessed from here.

Step 1 — Connect to a wallet

MetaMask will be used for this guide, but the app supports many different wallets:

Wallet options

Step 2— Choosing the network

For this guide, the BSC network will be chosen to conduct the transfer.

Full list of supported chains can be found here

Step 3 — Conducting transfer using MultiChain router

It is recommended that you utilize the router using USDC, USDT or MIM as these 3 stablecoins have the most liquidity across multiple chains. The liquidity for these tokens can be checked here.

Tokens’ total liquidity

Each chain will display the available supply of the token.

Step 4 — Cross chain transfer

• Firstly choose the token of your choice. USDC will be used in this guide

• Click Approve USDC and a MetaMask transaction will pop-up to approve your spending, click “Confirm.”*

*Wait for the transaction to go through for the spending approval and once complete head to the next step.

• Press “Swap” and a MetaMask transaction will pop-up to swap your USDC tokens. Click “Confirm.”* twice.

• Your cross chain swap should take a few minutes to be completed and you can view your status process on screen or here.

Transfer complete. Check your token balance on the block explorer of the respective network.

Note: In most cases, the protocol prevents users from cross-chain swaps when the target chain liquidity is low. However, in some extremely high volatility events this may not be the cases.

Users might land at the target chain with Pool Token: any<Assets> e.g. anyUSDC, anyUSDT, anyDAI, anyETH, anyFTM.

In this case, Any<asset> acts as a pool token so once there’s enough liquidity in the target chain pool, you’ll be able to withdraw, remove the pool token into native token ( USDC, USDT, DAI, ETH, FTM).

A full tutorial explaining how to handle this can be found here.

Snowball Optimized Pools

Once your bridge transaction is complete you can stake your USDC.e on Snowball.

In addition, Snowball provides multiple USDC.e staking options that can be done with as little as two to four steps using Snowball zappers.

Important note:

Throughout the guides, the gas price was 25 GWEI on Avalanche. During times of network congestion it may take longer for the cross chain swap to complete so it is advisable to conduct the swaps during less congested periods.
Gas price on Avalanche can be tracked here.