Injective is collaborating with Axelar to bring new EVM blockchains into the Injective ecosystem.
This partnership will involve the Inter Blockchain Communication (IBC) integration of the Axelar blockchain alongside a listing of AXL spot markets once the token goes live for trading. In addition, the respective communities will explore connecting Injective Bridge to the Axelar network, in order to enable transfers of assets from EVM chains, such as Avalanche and Polygon.
What is Axelar?
Created by members of the founding team behind the Algorand blockchain, Axelar is a universal overlay network, providing interoperability across Web3. Axelar is composed of APIs and SDKs atop a decentralized network that provides routing, translation and security to enable composability between blockchains.
Axelar is backed by major investors such as Polychain Capital and Dragonfly.
How will Injective work with Axelar?
The manner of collaboration will involve two primary initiatives.
The first priority is already underway with the integration of Axelar with the Injective Bridge, which will allow for the native transfer of AXL tokens into Injective. The token transfers will be publicly available on the bridge interface as AXL is listed on exchange DApps built on Injective Protocol.
The next step in this partnership will be to explore bridge integrations to allow for seamless transfers from EVM chains, such as Avalanche and Polygon. On a high level, the Injective Bridge would connect to the Axelar network, through which users can transfer over wrapped tokens from Avalanche, Polygon or any other connected ecosystem at the click of a button. The frontend will help display that the bridging process from the EVM chain will be powered by Axelar in order to distinguish between IBC transfers handled by Injective and EVM transfers managed by Axelar.
A core goal of the Injective community is to retain a chain agnostic architecture, whereby users are able to interact with distinct blockchains. Bringing EVM chains into this fold will not only allow new EVM spot pairs to be traded on Injective exchange DApps, but also create opportunities to utilize these assets across other DeFi applications within the Injective ecosystem once the CosmWasm smart contract layer goes live.
The Axelar team has been collaborating with the Injective community for quite some time behind the scenes.
The next step will be to further integrate Axelar and Injective by bringing the native Axelar token (AXL) onto Injective exchange DApps. Moving forward, bridging EVM assets from chains such as Avalanche and Polygon will be prioritized. The vision of interoperability underpinning Axelar and Injective will be a core component of how the two projects will work to bring together disconnected ecosystems that currently exist within crypto.
Axelar is the universal overlay network, securely connecting all blockchain ecosystems, applications, assets and users to deliver Web3 interoperability. Axelar goes beyond pairwise services, supporting general message passing and composability of programs across all blockchain ecosystems. Developer tools and APIs make it easy for both protocol and application developers to integrate interoperability.
Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.