Swap any asset for any asset on any network to any wallet at transaction speed with MultiSwap powered by Ferrum Network’s Mainnet Infrastructure.
MultiSwap is a smart routing multichain aggregator that enables multichain swaps between EVM and non-EVM networks alike. MultiSwap allows users to securely swap any asset for any asset on any network to any wallet at transaction speed.
Web3 is in need of a multichain solution that conforms to the highest standards of security through technical architecture, OpSec, and business best practices. Ferrum Network has committed themselves to building the infrastructure needed to support such an interoperability protocol.
As it stands currently, Web3 users do not have a go-to cross-chain swapping protocol. Users are relegated to performing multiple transactions using multiple DEXs on multiple networks combined with 3rd party bridges in order to carry out what could otherwise be a single cross-chain transaction. With the Ferrum Foundation backed project, MultiSwap, users can now seamlessly move assets across networks using a single interface. Not only does this benefit users but it also will help to reduce the layers of friction that exist for networks looking to attract liquidity to their chain while also making assets on integrated networks more composable.
MultiSwap competitive benefits
There are a few other competing products on the market including Router Protocol, Rango Exchange, Rubic, and Celer. The advantage that MultiSwap has over its competitors is that the MultiSwap Team has been able to analyze what has worked well and what sort of things could be improved with existing products. One of the key differentiating factors of MultiSwap is that it does not create large liquidity honeypots. These liquidity honeypots along with implementation of lock and mint architecture directly into the swap protocol core have been the vector for most of the interoperability exploits that have occurred in Web3. Therefore, MultiSwap is not only a much more secure alternative to its competitors but by opting against utilizing this sort of technology, it makes the MultiSwap solution significantly faster with cross-chain transactions being executed in as little as 30 seconds.
On top of being the fastest cross-chain swapping protocol on the market, MultiSwap is currently operating without any platform fees, making it the most inexpensive option on the market as well.
MultiSwap feature highlight
- Send destination gas with MultiSwap. With MultiSwap, users can pay the destination chain gas fees using the origin chain's native token. Gone are the days of asking a friend to send you a small amount of a token to pay for gas. Gone are the days of relying on faucets and centralized exchanges to acquire gas tokens.
- Send to any destination address. With MultiSwap you can swap assets and send the destination chain token to a different wallet address than the address on the origin chain. You can also make cross-chain payments using this feature.
- Loyalty rewards for using MultiSwap. Users can earn SWAPS in rewards for each transaction they conduct on MultiSwap. The amount of SWAPS earned can be increased based on factors such as volume of swap, staked balance of SWAPS, Liquidity Balance provided by the user and more.
Ferrum Network enables MultiSwap interoperability
As a protocol, Ferrum (FRM) wants to enable the seamless development of multichain products; With its build once, deploy everywhere motto, this approach includes creating demo and use case products that showcase the protocol's capabilities. Over the last few years, Ferrum has built one of the most sophisticated interoperability protocols in space. MultiSwap is the first protocol use case developed by the Ferrum Team that serves as a multichain DEX aggregator, enabling swap of any token across chains with a click of a button. Showcasing Ferrum Mainnet’s capabilities.
The Ferrum Foundation
Ferrum Foundation’s primary goal is to encourage developers and builders to adopt Ferrum Mainnet and its ecosystem. By backing the MultiSwap Team, Ferrum Foundation has enabled them to build and launch MultiSwap as the first application to utilize Ferrum’s Multi-Chain Token Standard, Ferrum Mainnet’s Quantum Portal remote balance state tracking and remote transaction execution in a modular, highly simplified manner. Furthermore, MultiSwap core, initially developed by the Ferrum team, will serve as the perfect use case to showcase how easy it is to migrate existing dApps to Ferrum’s mainnet infrastructure and seamlessly add integration with a multitude of chains.
MultiSwap Rollout
Product rollout began on 14-March-2024 at 18:00 UTC. The Ferrum Foundation, Ferrum Core Team and MultiSwap teams held an X (formerly Twitter) space shortly after to go over the features, benefits and use cases of MultiSwap. The teams also covered the launch of the SWAPS token as the first token to launch on Ferrum Mainnet and to utilize Ferrum’s Multi-Chain Token Standard. The SWAPS token will also be available on EVM chains thanks to the Multi-Chain Token Standard.
The MultiSwap team has created a sustainable loyalty and reward ecosystem with the help of the Ferrum Foundation. The ecosystem is designed to reward users of MultiSwap, with a focus on rewarding early adopters who utilize projects on Ferrum Mainnet such as MultiSwap itself prior to any applicable TGE events.