Blueshift and Multichain expand their Partnership to Algorand & Kava
Dec 12, 2022
With the recent launch of the Blueshift DEX to Algorand/Milkomeda (A1) and the upcoming deployment on Kava, we are also taking our collaboration with Multichain to the next level.
Multichain is a cross-chain router protocol with its branded portfolio pools on Blueshift, providing A1 users, Kava users and the ecosystem at large with liquidity and tokens from other chains. While users on Cardano/Milkomeda (C1) have already benefited from this collaboration, it is time to engage with the Algorand and Kava ecosystems.
It has been a great partnership working with Multichain since the creation of our DEX to help users move their liquidity across chains, giving them exposure to new tokens and projects.
Blueshift and Multichain present a Stablecoin Index on Milkomeda A1 Algorand: Stablecoin Index (multiUSDT, multiUSDC, multiBUSD) and on Kava we will have multiUSDC, multiUSDT, multiDAI, multiETH and multiWBTC provided on the DEX.
Our partnership is exciting for the Algorand and Kava ecosystems as it allows for new channels where liquidity can move into the ecosystems where it wasn’t possible before.
Born as Anyswap on July 20th, 2020, Multichain is positioned as a decentralized cross-chain router to address the clear need for distinct and diverse blockchains to communicate with one another.
Multichain promotes interoperability across different networks and actualizes smooth asset and value transfers as a cross-chain architecture. In addition, Multichain also powers the seamless data or message transmission across chains by anyCall, enabling the building of cross-chain Dapps.
Multichain is the leader in the cross-chain sector, with a constantly growing family of EVM and non-EVM chains (currently 73) and deployed bridges (currently 3,000+). Multichain, working hard to push the boundary of multi-chain, envisions to be the ultimate router for Web3.
For the blockchain and cryptocurrency industries to reach the next level for consumers, we need a fast, secure, inexpensive and reliable way to exchange value and data and exercise control between the chains.
You can get started with Multichain by simply connecting your wallet, choosing the chain you wish to bridge assets to and from, performing your conversions, and bridging your assets.
Blueshift is a leading, cutting-edge decentralized exchange built on Milkomeda with multichain capabilities. It can allow for cross-chain movement of liquidity, efficient swaps and unique portfolio pools, single token liquidity provisioning and a simple and fast user experience.
The unique setup of portfolio pools allows Blueshift to create groups of tokens rather than pairs of tokens for its automated market maker. In addition, portfolio pools allow for high capital efficiency when performing swaps. With more liquidity available for a swap, there is less slippage. Low slippage and low impermanent loss are possible as the DEX uses virtual pairs, where an optimal amount of liquidity can be used to form the swap.
The portfolio itself acts as an indicator of the performance of that particular portfolio type across an ecosystem, with its total locked value going up and down with the market price fluctuations.
Single token liquidity provisioning is also possible with the portfolio pool configuration. Since portfolios aren’t tied to pairs, users can easily provide liquidity with the single token they may have.
Lastly, Blueshift’s ability to go cross-chain allows its users to move liquidity across different ecosystems and blockchains with the help of our bridging and cross-chain partners, such as Multichain.
The launch of the Blueshift DEX and Algorand is complete. Users are able to use the Multichain bridge on launch and move assets with ease.
Be sure to visit our website, https://blueshift.fi, join our Discord and follow us on Twitter to keep up with our launch. We’re looking forward to seeing you in our community.