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    Is $MULTI Undervalued?

    This bounty is intended to unearth hidden gems within the cryptocurrency space, specifically focusing on tokens that are currently undervalued and hold great potential for the upcoming cycle. We're looking for well-reasoned, data-driven arguments that lay out why a chosen token is set to appreciate in value. The successful argument should provide on-chain data including token fundamentals, tokenomics, user growth, user activity, revenues, and other cogent data-driven reasons explaining why the token is currently underpriced.

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    What Is Multichain (MULTI)?

    • As a cross-chain router protocol (CRP), Multichain is an infrastructure for on-chain asset interoperability, envisioned to be the ultimate router for Web3.

    • Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other. Each blockchain has its own unique services that it provides, its own community and its own development ecosystem. For our industry to reach the next level for consumers, we need a fast, secure, inexpensive and reliable way to exchange value, data and exercise control between the chains [Link].

    What Is the Securities and Exchange Commission (SEC)?

    • The U.S. Securities and Exchange Commission (SEC) is an independent federal government regulatory agency responsible for protecting investors, maintaining fair and orderly functioning of the securities markets, and facilitating capital formation. It was created by Congress in 1934 as the first federal regulator of the securities markets. The SEC promotes full public disclosure, protects investors against fraudulent and manipulative practices in the market, and monitors corporate takeover actions in the United States. It also approves registration statements for bookrunners among underwriting firms [Link].

    Binance Vs S.E.C

    • The world’s largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC.

    • Filed in the U.S. District Court for the District of Columbia, the Securities and Exchange Commission lawsuit on Monday lists thirteen charges against the firm — including commingling and divert customer assets to an entity Zhao owned called Sigma Chain.

    • Binance is a Cayman Islands limited liability company founded by Zhao and the charges are familiar to practices uncovered after the collapse of the second largest cryptocurrency exchange, FTX, last year [Link].

    $MULTI Tokenomics

    • $MULTI is the governance token used to allow MULTI token holders to vote and participate in governance of the Community and Ecosystem.
    • The total supply of MULTI will be 100 million according to the fixed exchange ratio with ANY (ANY:MULTI=1:1) as the total supply of ANY is 100 million. Currently, ANY circulating supply is 18,639,320, accounting for 18.64% of the total. Once the swap is completed, MULTI circulation will be 18,639,320 while the uncirculated accounts for 81.36%.
    • The uncirculated MULTI tokens are locked in the smart contracts, and it's specific use is determined by the DAO. Meanwhile, ANY Tokenomics for repurchase and destruction will also be upgraded to the veMULTI model. For details, stay tuned to our follow-up announcement [Link].

    Why is $MULTI important?

    • Multichain plays a crucial role in the progress of cryptocurrency decentralization specifically after the S.E.C announcement on Binance and Coinbase and improving government pressure for regulations.
    • In Addition, with these pressure, Cross-chain Swap protocols become vital for Crypto since they allow to swap between different chains and Users do not need to Cexs so I think cross-chain Swap protocols will experience hype in the next cycle specifically Multichain Protocol since it support EVM and Non-EVM chains while other Cross-chain Swap protocols generally only support EVM Chains.