The year 2023 marked a new beginning for Bitcoin, with a surge of tokens launched on its network under the BRC-20 standard. Among the projects aiming to enhance liquidity and utility for BRC-20 tokens, Multibit (MUBI) stands out. But what makes Multibit unique? Let’s dive into its cross-chain technology, features, and ecosystem impact.
What is Multibit?
Multibit (MUBI) is a cross-chain solution enabling seamless conversion between BRC-20 tokens (Bitcoin) and ERC-20 tokens (EVM chains like Ethereum, BNB Chain). It bridges Bitcoin’s ecosystem with DeFi platforms, boosting liquidity for BRC-20 tokens while fostering Bitcoin’s growth.
Key Features:
- Token Bridge: Effortlessly swap BRC-20 ↔ ERC-20.
- Additional Utilities: Swap, Staking, Farming (under development).
- OAMM Protocol: Automated Market Maker for BRC-20 trading.
👉 Discover how Multibit revolutionizes cross-chain swaps
How Multibit Works
Cross-Chain Process:
- Deposit BRC-20: Users send tokens to Multibit’s designated Bitcoin address.
- Mint ERC-20: Verified transactions mint equivalent ERC-20 tokens on EVM chains.
- Reverse Bridge: Burn ERC-20 to reclaim BRC-20 on Bitcoin.
Multibit’s Ordinals AMM (OAMM):
A specialized protocol for trading BRC-20 tokens with minimal slippage.
Multibit Token (MUBI)
| Metric | Details |
|---------------------|------------------------------------------|
| Token Name | Multibit Token |
| Symbol | MUBI |
| Blockchains | Ethereum, BNB Chain, Polygon |
| Total Supply | 1,000,000,000 MUBI |
| Use Cases | Utility (Staking, Farming), Governance |
Where to Trade: KuCoin, Uniswap, Gate.io.
Supported Wallets: MetaMask, Trust Wallet.
Roadmap (2024)
- Q1: UI upgrades, DeFi integrations (lending, farming).
- Q2: Expand partnerships with blockchain projects.
FAQ
Q1: Is Multibit secure?
A: Yes, it uses audited smart contracts for cross-chain swaps.
Q2: Can I stake MUBI?
A: Yes, staking rewards are paid in BRC-20 tokens.
Q3: Which chains are supported?
A: Ethereum, BNB Chain, Polygon (more coming soon).
👉 Explore Multibit’s latest features
Conclusion
Multibit simplifies cross-chain interoperability for Bitcoin tokens, merging Bitcoin’s security with DeFi flexibility. As the ecosystem evolves, MUBI’s utility in staking and governance positions it as a key player in blockchain innovation.