Search
  • Individual Pirate

AnySwap becomes Multichain and disowns Fusion? Yes. Here's what you should know.


If you were awake yesterday and at all interested in cross-chain interoperability, you probably noticed that AnySwap just rebranded itself into Multichain and at the same time removed all references to DCRM replacing them with SMPC. This has caused much confusion and outrage in the Fusion community, for very good reasons.


You can read about what DCRM and SMPC are here.


Here is why outrage is warranted:

1. What the AnySwap team has been using was developed during the time they worked for Fusion Foundation. Even though AnySwap evolved since that time, the Foundation of the work was laid while working for Fusion Foundation.

2. DJ Qian owned shares in AnySwap company, yet has been completely out of the loop with AnySwap actions. Likely AnySwap company will be meaningless as Multichain company, or DAO takes over. The shares owned are thus perhaps even meaningless. Their initial sale could perhaps even be regarded as a scam. Many investors have seen AnySwap as a child of Fusion, and never saw a "treachery" like this coming.

3. Ever since Andre Cronje got involved with AnySwap, Its Fusion origins have been subdued in Anyswap's official communications. This has been respected because of his great influence and direct involvement in AnySwap's evolution. However what is now faced is a complete disowning of origins even though the whole AnySwap team (including Andre Cronje) has been previously involved with Fusion Foundation.

4. SHANGHAI FENFU INFORMATION TECHNOLOGY CO., LTD holds a patent regarding asset maping This company is owned by DJ Qian, and in the blockchain world it's considered to be in the control of Fusion Foundation. Many investors of FSN consider this patent a key reason for their investment. Further AnySwap/Multichain is still today using asset maping for many of its bridges, even if they have for a long time been moving towards pre-existing contract to contract swaps of stable coins through their router, Multichain is definatly still a mix of these two systems (and especially so in their new release where router/bridge is combined into one UI).

5. Even after it began to become "clear" AnySwap was moving away from Fusion, the Fusion community has always supported and cheered on AnySwap's efforts. Because it's always been about building cross-chain interoperability that was most important to Fusionites, and this is exactly what AnySwap has been doing. However - what happened yesterday really feels like a stab in the back for Fusion supporters. Switching name is one thing, but why this sudden urge to not have anything to do with Fusion at all?


Many are probably baffled and wonder, why?


Here are a couple of possible explanations:

  1. AnySwap has made its success connecting blockchains and have built its value this way. The fact that it has had a "father chain" has probably been a hindrance to its prosperity. Recently ANY got listed in many major exchanges, and it may in fact be a direct result of this plan to distance itself from Fusion.

  2. Many people in the blockchain space seem to have a problem with DJ Qian for some reason or the other. People with high influence. As such his influence might have been seen as obstacle for the success of AnySwap/Multichain.

  3. Chainge is in some ways a competitor to AnySwap. Chainge more directly supports Fusion than AnySwap. This of course has helped AnySwap to move along in some other direction and has found high support in the Fantom community.

  4. Fusion is a low fee chain. Multichains new token MULTI will be founded on Ethereum. Ethereum maximalists may consider low fee EVM chains like Fusion as undermining Ethereum. If "Ethereum maximalists" are now backing Multichain, this can easily explain the move away from Fusion.

How do I feel about all this? Check the picture to find out. I don't think sanity will prevail. There may be some conflicts and leagal actions taken from hereon.

811 views0 comments

Recent Posts

See All