Welcome back to MultiVAC’s Monthly Project Report. If you have any questions or suggestions, please feel free to email us at core@mtv.ac
1. Project Development Updates
As mentioned in our last monthly report, we have quietly completed the majority of the developments that we had planned for this year.
This month, the Dev team mainly strengthened MultiVAC’s endpoint node design to ensure smooth operation of the mainnet.
Over the next year, we will keep monitoring closely market conditions and adjust the release schedule accordingly.
Stay tuned!
2. MultiVAC — A Growing DeFi Hub
Thanks to its superior architecture, MultiVAC is steadily becoming a hub for Decentralised Finance. DeFi is now an integral and an important element of our blockchain.
Presently, MultiVAC hosts over 15 unique projects that are actively being used by our community!
A picture being worth a thousand words…
Verified TVL on MultiVAC — Source: DefiLlama
As you can notice on this chart, the verifiable Total Value Locked (TVL) — an important metrics in DeFi — has been going up consistently since July 2022, despite harsh market conditions. This remarkable growth has been made possible only thanks to an intense collaboration between the various protocols, attracting new users into MultiVAC’s ecosystem!
3. Ecosystem Projects Highlight
Mtvscout.com
The Block Explorer that we all love, Mtvscout, has been the foundation over which our DeFi ecosystem has blossomed.
Trustlessness, Permissionless-ness and On-Chain Verification are the 3 pillars for finance decentralisation. Mtvscout.com has been the enabler of these technologies on the MultiVAC blockchain, thanks to the power of its AlwaysOn Indexer and it’s Contract-Source Code Prover.
Last month, Mtvscout registered over one million queries, a record high which demonstrates the growing interest in MultiVAC!
RelayChain: V2 Bridge & Aggregator
Early December, Relaychain.com Dapp launched their new V2 bridge, replacing their old V1 bridge that had been servicing MultiVAC since onboarding.
What’s new with V2 bridge?
Users can now bridge dozens of assets, such as USDC, USDT, ETH, BNB, MATIC, FTM etc. between MultiVAC and many other chains, for instance Polygon, BSC, Fantom, Ethereum, Optimism, Arbitrum, Avalanche, Metis & much more!
Fees to bridge (previously around $5–7) have been slashed to promote the usage of cross-chain transfers.
At current MTV price, it will cost you only a mere $0.0004 to bridge $1 of any token between any two participant chains!
Other benefits
Low bridging-fee opens up a whole new realm of possibilities!
- People can use this characteristic to arbitrage cost-efficiently between multiple chains
- MultiVAC can be used as a “transit-chain” between any other two chains
- New capital can explore opportunities in the MultiVAC environment
- Existing MultiVAC users can gain insight & exposure into cross-chain DeFi
RelayChain’s bridging volume has exploded over the last month. Remarkably, it was higher than all previous months combined.
The uptick in daily users keeps growing continuously, fuelled further by RelayChain’s “DeFi-Chat”, an educational initiative on the MultiVAC servers which teaches users to earn MTV for free by arbitraging across chains!
ABcDeFX — StableSwap & Forex
Guru Network’s latest product is ABcDeFX, an acronym for A Blockchain-Decentralised ForeX. It is a novel DEX which isn’t based on Uniswap principles. Instead, it uses a unique pricing mechanism for its AMM, which can be formulated as k = x³y + xy³, where k is an invariant and x and y are the quantity of pooled tokens.
This innovative model is suitable for exchange of assets which are tightly correlated, and it provides upto 40 times greater capital efficiency. The most obvious use-cases are:
- Trading a pair of stablecoins, such as USDC against USDT
- Synthetic assets, such as MTV derivatives like swMTV
- Interest-bearing wrappers over staked MTV, such as iMTV
- Foreign Exchange, such as trading JPY/SGD or EUR/USD
Presently, ABcDeFX is being used to trade Stablecoins extensively on MultiVAC, and has quickly grown to outpace all existing DEXes with its magnificent volume-to-liquidity ratio, thanks to it’s algorithm’s high efficiency.
In the near future — and as the MultiVAC ecosystem develops — a lot more trading can be expected in other categories such as Tethers (XAU, PAXG), Synthetics (jEUR, EURT) and many more!
Cross-projects Collaboration
MultiWorms DAO was previously staking over 3 Million MTV coins in MultiVAC’s standard staking program. Recently, however, the project has deployed their MTV tokens into 💉The VAX, in conjunction with USDC from Guru Network’s BSC Treasury.
Users can now earn more than 4x times MTV’s standard yield with over 22% APR by farming with the new Liquidity Pair (LP) vaxLP-USDC/USDT at MTV.Guru’ LITE Farmlands.
VAX integrated PROX token as an interstitial for routing MTV-USDC trades. As a result, the MTV traders tap into Proxima’s deep liquidity with a new path for their swaps. Meanwhile, Proxima Liquidity Providers chilling in the LFs get an extra boost of Trade-Fee APRs to supplement their farming rewards! The extra fees earned are automagically compounded into more PROX, MTV & USDC!
RelayChain users are being rewarded with two new incentives to drive usage of their V2 Bridge & the new Bridge Aggregator, with “Lottery Tickets” to earn RELAY prizes & a 1 Million PROX Jackpot, sponsored by Team Proxima.
4. Last But Not Least… Happy New Year Everyone!
The MultiVAC team is wishing you peace, joy, and happiness through the coming year.
We are looking forward to accomplishing great things all together in 2023!
ABOUT MULTIVAC:
MultiVAC is a high-throughput flexible blockchain platform based on all-dimensional sharding. It’s a next-generation public blockchain platform built for integration with large-scale decentralized applications.
MultiVAC is developing the first solution in the world characterized by speediness, efficiency, and all-dimensional sharding to expand its capacity in computation, transmission, and storage. It realizes the maximum throughput while maintaining decentralization and without sacrificing security.
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Swap on DEX: Binance DEX, PancakeSwap, DODO DEX, BurgerSwap
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