Paribus Partnership with Multichain

Published on: 26.08.2022

A cross-chain borrowing and lending protocol for NFTs, liquidity positions, and synthetic assets, built for the Cardano blockhain, Paribus, announced its partnership with Multichain.

Paribus absolutely thrilled to share with the community its partnership with Multichain so that its PBX token can now be bridged to Arbitrum, Milkomeda, and Polygon.

Partnership Highlights

Cross-chain interoperability has always been at the heart of everything they hope to achieve and it’s incredible that we’ve already reached this milestone. Development teams from both Paribus and Multichain have worked tirelessly to ensure the success of this move, going above and beyond our wildest expectations.

Multichain is a leader in terms of security, cross-chain speed, and costs. Since its foundation, it has evolved from a 1:1 cross-chain bridge to an innovative cross-chain router system that interconnects multiple chains. It offers an advanced and real-time Cross-Chain Router Protocol (CRP) system that supports the interoperability of tokens, NFTs, and general data across multiple chains.

For PBX holders

For PBX holders the minimum volume required for a cross-chain transaction through the router is between 2,847 PBX and 9,412 PBX depending on which chain the bridge is between. Likewise, the maximum amount per transaction is 180,000,000 PBX to 2,747,026,344 PBX, again depending on the chain that’s being bridged to.

The transaction speeds are incredible too, with most transactions arriving within 10–30 minutes. Larger transactions may however take up to 12 hours to arrive. The definition of a large transaction varies from 1,000,000 PBX to 549,405,268 PBX depending upon the chain that it’s bridging to.

For those unfamiliar with Multichain, they may remember its previous name, Anyswap, which was founded in July 2020. Anyswap started life as a cross-chain decentralized exchange, however, seeing the strength of its development in cross-chain solutions it pivoted to specialize in bridging infrastructure.

They now provide a cross-chain router service that has a strong track record in terms of both speed and security, having quadrupled their speed of transactions over time. Significantly for Paribus, they also operate a non-custodial approach using Multi-Party Computation (MPC) technology. In practical terms this enables users to keep their full private key secret during interactions with the bridge. Because Multichain is non-custodial it means that it can’t take control of users’ assets, which is something we’ve seen happen with other platforms.