What is MUBI Coin (MultiBit) and How Does It Work?
What is Multibit (MUBI Coin)?
MultiBit (MUBI Coin) is a BRC-20 token bridge platform that allows users to seamlessly move tokens between the Bitcoin blockchain and other Ethereum Virtual Machine (EVM) networks.
MultiBit is the first double-sided bridge designed for easy cross-network transfers between BRC20 and ERC20 tokens. MultiBit increases cross-chain interoperability by promoting unmatched liquidity for these tokens. It is a project that sets out to promote increased liquidity and accessibility for BRC and ERC tokens in a secure and user-friendly manner.
Talking about the basic techniques of MUBI, the token has recently gained value along with the BRC-20 token hype. The token was launched in November.
The solution that supports bridging for Bitcoin ecosystem NFTs via MultiBit will also be implemented soon. This will make purchasing the token even more affordable.
How Does Multibit (MUBI Coin) Work?
MultiBit facilitates the token transfer process between Bitcoin's BRC20 and EVM networks. It starts with users transferring their BRC20 tokens to a special BRC20 address. Once approved, these tokens are prepared to be minted on the EVM network. However, MultiBit's uniqueness lies in its double-sided bridge feature that enables equally seamless transfers from EVM networks to Bitcoin. With MultiBit, bridging and minting tokens for cross-chain transfers between Bitcoin and EVM networks is an effortless process.
MultiBit's Ordinals Automated Market Maker (OAMM) is a decentralized exchange protocol specifically designed for trading Ordinals ($ORDI) tokens. It leverages automated market-making principles to provide liquidity, enable seamless token swaps, and facilitate efficient price discovery for $ORDI and other paired tokens.
MultiBit offers Farming Ordinals ($ORDI), an exciting opportunity for the BRC community to earn additional $ORDI tokens by providing liquidity or staking preferred tokens in selected pools. The farming process allows participants to contribute to the liquidity of the $ORDI ecosystem while being rewarded for their contributions.
