Cross-chain token swap platform Anyswap rebrands to Multichain, secures a $60 million investment led by Binance, with token ANY being exchanged for new token MULTI.

The well-known cross-chain token swap protocol Anyswap announced on the 16th that it has rebranded to Multichain. On the 21st, it announced that it has received a $60 million investment led by Binance Labs, the venture capital and incubator arm of Binance.

Binance Labs Leads $60 Million Investment

Binance Labs leads a $60 million investment round, with other investors including Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures, and HashKey.

According to the press release, Multichain has 300,000 users with a total value locked (TVL) of $49.6 billion as of 12/21.

Tokens ANY to be Exchanged for New Token MULTI at Par

• The governance token ANY from Anyswap can now be converted 1:1 into the new token MULTI, with one-way conversion and no time limit
• Multichain is a cross-chain router that currently supports 25 blockchains
• MULTI will also introduce a locking mechanism called veMULTI
• The total supply of MULTI is 100 million, with a fixed exchange rate of 1:1 with ANY, which has a total supply of 100 million. The circulating supply of ANY is currently 18,639,320, accounting for 18.64% of the total. After the conversion, the circulating supply of MULTI will reach 18,639,320, with the remaining 81.36% not in circulation.
• The original Anyswap website will remain operational but will no longer be updated