Multichain uses a Curve-inspired vote escrowed (VE) token model which incentivizes users to lock up Multichain’s governance token MULTI and mint vote escrowed token (veMULTI) and receive rewards from the system. The concept of vote escrowed tokens grew in popularity during the Defi summer as it incentivized locking up tokens for an extended time (sometimes even years), thereby ensuring the holder’s vested interest in developing the protocol. As Gelato to Support Multichain’s Cross-chain Staking Reward Payouts.

veMULTI

veMULTI has an implemented checkpoint function, enabling it to do the necessary accounting and keep track of veMULTI holders eligible for weekly rewards. veMULTI must execute this checkpoint function every three days on all networks supporting Multichain’s veMULTI token so token holders can claim their rewards.

Multichain leverages Gelato to automate the execution of the checkpoint function so that their veMULTI holders can always claim their rewards on time!

Find the task in Gelato at:  https://app.gelato.network/task/0xc0f54450266a92aff03557ee52b6fdb6f65d66767394df39f6383fcd056d06b0?chainId=1

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About Multichain

Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other. Each blockchain has its own unique services that it provides, its own community and its own development ecosystem. For the industry to reach the next level for consumers. They need a fast, secure, inexpensive and reliable way to exchange value, data and exercise control between the chains.

Website | Twitter 

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About Gelato Network

Gelato is web3’s decentralized backend empowering builders to create augmented smart contracts that are automated, gasless & off-chain aware on all major EVM-compatible blockchains including Ethereum, Polygon, Fantom, Arbitrum, BNB Chain, Optimism and many more.

Gelato offers 2 main services:

• Automate: Automate your smart contract executions in a reliable, developer-friendly & decentralized manner while leveraging off-chain data.
• Relay: Give your users access to reliable, robust and fast gasless transactions.

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SOURCE: MEDIUM

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Known for their intelligence and friendliness, Alpaca Finance channels its namesakes by helping lenders earn higher yields in a safe and stable environment, and by offering borrowers undercollateralized loans for yield farming. As Gelato Network announced their partnership with Alpaca Finance.

Part of Alpaca’s success is due to the way they have improved the user experience of DeFi platforms by offering leveraged farming options and allowing users to leverage automated vaults to protect their staking returns, minimizing the risk of users losing their original staked assets.

Even still, distributing rewards through Alpaca can be a daunting task- that’s where Gelato comes in. With Gelato Alpaca can “feed their grass house” and sit back while Gelato automatically distributes tokens to their vaults to monitor positions and prevent liquidations;

By integrating Gelato Ops, the Alpaca team can finally leave all the manual work to Gelato’s world-class automation suite, with some reward tokens being reinvested into their yield farms, and others being distributed to users.

“Gelato’s decentralized keeper platform has made it effortless for us to do automation and save resources, allowing us to focus on building the best DeFi products.” — Spicysquid, Head of Engineering

“After Beefy, Olympus and Gro we are excited to see Alpaca, the biggest leveraged yield farming protocol on BSC, join the Gelato fam. We are more than happy that they are choosing the best smart contract automation platform out there to automate token distributions. “

As Alpaca inevitably grows, Gelato will be there to help expand the platform’s product offerings and provide the required infrastructure to offer additional automated features in the future.

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About Alpaca Finance

Alpaca Finance launched in March 2021 and has become one of the top DeFi protocols, with over $400M locked in its TVL. Alpaca is also regarded as one of the safest DeFi platforms, receiving over 20 security audits from industry leaders, and offering insurance plans to reimburse users in the event of a loss.

Website | Twitter

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About Gelato Network

​​Gelato Network enables developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum.

Their goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all web3-related DevOps.

Website | Twitter

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