MUBI(MultiBit) Project Analysis
1. Research Institute Review
Multibit_Bridge is the first bidirectional bridge designed for seamless cross-network transfer between #BRC20 and #ERC20 tokens, having already bridged assets worth over $500,000. The issuance of Multibit's $MUBI token will launch on the Bounce Launchpad, raising 88 ETH in just 60 seconds.
2. Recent Highlights
The BRC20 track has recently gained popularity, but ordinary user participation is challenging, and there are few projects related to the concept. This project focuses on the BRC20 concept by providing cross-chain bridge functionality, with the token still on the Ethereum chain. Launched on November 12th on the Bounce Launchpad, it raised 88 ETH in 60 seconds. MultiBit has garnered strong support from influential social media entities such as Domo, BitGod, Ordinal Degen, Ordinal Labs, and notable BRC influencers. Trading pairs are now available on Uniswap, with liquidity provided by DWF.
3. Project Introduction
MultiBit simplifies the token transfer process between Bitcoin BRC20 and EVM networks. Users first transfer BRC20 tokens to a dedicated BRC20 address. Once confirmed, these tokens are ready to be minted on the EVM network. However, MultiBit's unique feature is its bidirectional bridge function, allowing seamless transfer back to Bitcoin from the EVM network. With MultiBit, bridging and minting tokens between Bitcoin and the EVM network is an effortless process.
4. Token Utility
Governance: Holders of $MUBI tokens have governance rights within the MultiBit platform. They can participate in decision-making processes such as voting on platform upgrade proposals, new token listings, fee structures, and other key governance matters. This ensures the community has a say in shaping MultiBit's future.
Staking for Rewards: Users can stake $MUBI tokens on the MultiBit platform to earn rewards in the form of ERC20 or BRC20 tokens. By staking $MUBI tokens, participants contribute to the platform's liquidity and security while earning additional token rewards as compensation. The staking mechanism provides users with the opportunity to earn passive income based on their staked amount.
KOL Whitelist Sale (same price as public sale): 11.25%
Public Sale: 78.75%
5% DEX liquidity permanently locked
5% Team locked for 6 months, then linearly vested over 2 years
MultiBit currently uses X bridge fees as transaction fees on Multibit. Half of these fees are intended to be tokenized and distributed to $MUBI stakers:
50% Growth: - 5% Core Contributors - 5% Team Finances - 20% Development - 20% Marketing
50% Distribution: Stakers of pledged MUBI will receive a portion of the protocol revenue generated by Multibit Exchange.
6. Investment Institutions
4021 followers on Twitter
8. Future Outlook
Multibit provides a secure and efficient bridging mechanism, allowing seamless token transfers between ETH, BNB, and BTC networks. Multibit connects ERC20 and BRC20 tokens, enhancing liquidity for BRC20 tokens and fostering the growth and development of the Bitcoin ecosystem.
Project Introduction: MultiBit is the first bidirectional bridge designed for easy cross-network transfer between BRC20 and ERC20 tokens. By promoting unparalleled liquidity for these tokens, MultiBit enhances cross-chain interoperability.
Token Full Name: MultiBit
Token Name: MUBI
Project Website: https://multibit.exchange/
Project Documentation: https://medium.com/@Multibit_Bridge
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