AMSTERDAM, NETHERLANDS, April 03, 2021 /Neptune100/ — Multibridge supports the migration of a project from one blockchain to another by creating a bridge between the existing and prospective blockchain. The rapid growth of the DeFi sector has led to an increase in the gas fee charged by blockchains like Ethereum. With users searching for alternatives to Ethereum, like Binance, Polkadot, and Dfinity, Multibridge works to assist projects to migrate from Ethereum and Polkadot to Binance Smart Chain and vice versa.
End to End Migration from One Blockchain to Another
The development team at Multibridge predicts a backlogging issue to erupt in the near future due to BSC’s centralized character. Multibridge is a response mechanism that works to streamline the migration process accessible to everyone while giving the users ability to create new tokens on the new blockchain with minimal or zero downtime.
In addition to creating a smooth gateway for migration, Multibridge also offers designated customer support to ensure a seamless migration. Together with OxBull, Multibridge is set to launch its first presale on the platform. Apart from the core migration service, Multibridge also has its own cryptocurrency system native to the platform, mBRIDGE.
mBRIDGE Use Cases and Tokenomics
mBRIDGE is the official token of the Multibridge project working as a governance and utility token. mBRIDGE use cases include bridge fees, governance, farming, staking, and NFTs. The governance tokens will lend decision-making power onto the users on the platform. For enabling migration, the users must pay the bridge fee.
Farming mBRIDGE via the platform will yield returns and increase the value of the native token in the future. Lastly, the NFTs or Non-Fungible Tokens trading transactions on the platform will require mBRIDGE tokens.
With a total supply of 5.1 million tokens, the Multibridge platform will undergo its first private and pub presale of 550,000 and 1,600,000 tokens, respectively. On the other hand, 1,450,000 tokens have been reserved for farming, 300,000 tokens with monthly unlock function are reserved for team and development tasks.
Multibridge allows existing project teams to switch between blockchains and create new tokens under the new blockchain without downtime. Multibridge facilitates migration from Ethereum and Polkadot to Binance Smart Chain, with the inclusion of Dfinity in the future. Oxbull is assisting Multibridge to launch their first IDO and helping the new project gain traction in the market.