Hundred Finance is pleased to announce its integration of a major new innovation in the cross-chain cryptocurrency ecosystem, Multichain’s anyCall! The anyCall protocol is a recently-released framework for sending messages and calling contracts across chains. This functionality, as well as the large suite of chains supported, is invaluable to us at Hundred Finance, covering, as it does, our growing network of lending platform deployments.

Thanks to anyCall, our community of veHND holders are now able to more effectively participate in protocol governance by simply and cost-effectively transmitting data on their balances between chains. This allows them to receive their veHND-powered boosts and better dictate HND reward assignment across all gauges, the means through which we incentivize the deep liquidity that allows Hundred Finance to offer market-leading lending and borrowing rates on the stablecoins essential to a multichain DeFi world.

Cross-chain Mirroring with anyCall

Due to anyCall catering to Ethereum, Arbitrum, Fantom, Harmony, Moonriver, Gnosis, Optimism and Polygon (with BSC and Avalanche also supported), we are able to gradually roll-out the mirroring of veHND balances throughout the Hundred Finance network. This mirroring process has two principle benefits:

• Liquidity providers have the sum of their multi-chain veHND balances accounted for when their APR boosts on staked liquidity are calculated.
• veHND holders whose tokens are held on one chain can play an equal part in determining how HND are emitted on another, further gamifying protocol management.

AnyCall uses the anyCall function on a specific chain to interact with Multi-Party Computation (MPC) nodes that detect the invocation of this function and perform security checks of the messages it transmits. Once this has been done, the anyExec function, residing on the destination chain, receives the validated instructions and executes them as intended. This generalized approach to message sending, as well as the ease with which anyCall can be implemented and the backing provided by the Multichain application and its developers, makes the protocol ideal for Hundred Finance’s mirroring purposes.

How to Mirror

At Hundred Finance, reducing barriers to user participation and increasing capital efficiency across chains is our major ambition. This comes into play in the way we have sought to seamlessly incorporate anyCall with our existing mirroring solutions. From the user’s perspective, mirroring looks exactly the same independent of the chain on which it is carried out.

A Hundred Finance user with locked HND on, say, Moonriver but stablecoins sitting in a high-APR gauge on Polygon can jump over to Moonriver’s vote UI and initiate a “Mirror lock to a target chain”. In the above example image “Polygon” would be selected and the transaction sent with the click of just one button. In a short while their mveHND balance would be accounted for over on Polygon and their increased boost applied to the APR received for their staked assets.

Given our ambition to deploy on as many EVM-compatible chains as possible, this cheap and simple process works wonders as it allows anyone able to bridge their assets the ability to consolidate their governance power wherever they go and maximize their yield whatever their available capital. Once a veHND balance is mirrored, the gauges that suit their assets can be voted for and HND accumulated more rapidly in order to then further compound their ability to exert influence over the protocol.

On the backend, the process begins with user’s data on their veHND balance and lock length being sent to the MultichainMirrorGate contract. The mirror gate is then responsible for validating and formatting the message before calling the MultiChainAnyCall contract on Chain 0, which subsequently calls the Chain 1 MultiChainAnyCall contract and passes the message on to the MirrorVotingEscrow for execution. With the lock data securely validated and passed between the two chains, this information is applied to the user account and the mveHND token balance updated and benefits received.

Conclusion

With the addition of anyCall to Hundred Finance’s toolbox of cross-chain technology, the integration of the many chains on which the protocol has launched within one united platform is greatly improved. Now, with universal cross-chain communication granted by anyCall in place, we’ll be in a position to more effectively move onto implementing the cross-chain collateral functionality that will differentiate Hundred Finance from other lending platforms in the space and fully-realize our multichain ambitions.

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About Hundred Finance

Hundred Finance is a decentralized application (dApp) that enables the lending and borrowing of cryptocurrencies. A multi-chain protocol, it integrates vote-escrow tokenomics in the management of protocol governance and incorporates Chainlink oracles for system health and stability in its provision of markets for long-tail crypto assets.

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About Multichain

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. The solutions developed by Multichain allow almost all blockchains to inter-operate. With the launch of anyCall, a generic cross-chain messaging protocol, Multichain takes cross-chain interoperability to the next level.

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