Multiple Finance Weekly Summary

3 min readJul 23, 2021

Welcome to the Weekly Summary, This issue covers the week of 7/13–7/23.

What is Mutiple Finance?

Multiple Protocol is a Decentralized Finance (DeFi) protocol based on Ethereum that allows expert traders (GP) to provide professional AMM liquidity strategies, which in turn ensures users (LP) securely benefit from the best yielding products.

Playground

Please, use ETH Faucet to enter Multiple PlayGround strategy!

https://playground.multiple.fi/#/Playground/faucet

Learn how to connect your ETH Faucet here:

Technical

1.Smart Contract NFT Work Permit Auction Protocol development(complete)

NFT opens up an exciting world. In Multiple Protocol, NFT work permits are issued in a limited number, with each one unique.

When NFT Work Permits are insufficient, they are allowed to be transferred through auction.

Auction method: Increase bid by an incremental amount, and the highest bidder, after the auction time is up, is called the buyer

Support token:MUL token

Opening bid:Initial auction price set by the seller

Start time: Auction start and end time set by the seller

Security deposit: Bidders need to lock the security deposit when making the first bid. After the auction ends, if the buyer cannot afford the bid, the security deposit will be withheld to compensation for the auction loss of the seller

Reserve price: The seller could decide whether to use reserve price. If the reserve price is used and higher than the maximum bid, the auction will not succeed. If the reserve price is not used, the highest bidder will be the buyer

Bid increment: The bid made by bidders each time shall increase by the fixed bid increment and shall not be lower than it

2. Smart contract supports Uniswap V3 NFT UNI Stake (Completed)

Integrated Uniswap V3 protocol, providing liquidity NFT can be used for Stake to earn UNI.

3. Optimistic network Layer1-Layer2 cross-chain (Developing)

Layer2 is an extended solution built on top of Ethereum.

Compared to Layer1, in additional to faster transaction processing speed, there is also a significant upgrade in transaction costs. Under the same transaction volume level, the gas fee on L2 can be saved up to 10 times (if the demand increases dramatically, it will also push up the gas cost).

-Supports L1 asset transfer to Optimistic Ethereum network

-Compatible with mainstream wallets (Metamask, WalletConnect)