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Like most bridges, Multichain makes use of a mint-and-lock mechanism to maneuver property between the 92 blockchains it interacts with. For instance, if a holder of USDC stablecoin bridges the asset from Ethereum to Fantom through Multichain, the token will get locked up in a sensible contract on Ethereum after which issued anew on Fantom – on this case, as a “wrapped” token known as anyUSDC.
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