What is Axelar Bridged USDC (AXLUSDC)?
What is the project about? axlUSDC is a wrapped, multi-chain representation of USDC, a dollar stablecoin. For each unit of axlUSDC, there is a unit of USDC locked in an Axelar Gateway on Ethereum. axlUSDC is secured by a dynamic validator set running delegated Proof-of-Stake, which holds key shares in the Axelar Gateways via multi-party cryptography. Acquire axlUSDC in three ways: Swap via liquid pairs on any of the DEXs listed here. Swap via Squid, a cross-chain liquidity router built on Axelar. Mint via Satellite, a cross-chain bridge built by Axelar What can your token be used for?
How does Axelar Bridged USDC work?
USDC is the ticker for USD Coin. It's a stablecoin, pegged to the US dollar, issued by Circle, a US company. So, what is axlUSDC, why do we need it, and how can you get it? This post will briefly explain. USDC is issued on Ethereum – but dApps and users in other ecosystems also value the stablecoin's properties. Many of them use axlUSDC, a wrapped version of USDC that can travel between chains, as a multi-chain stablecoin. In brief, axlUSDC is generated via cross-chain bridges.
What is Axelar Bridged USDC used for?
These dApps accept a deposit of USDC at an Axelar Gateway on Ethereum, and mint an equivalent amount of axlUSDC on the destination chain (minus fees). Two key points to understand what axlUSDC is and how it can be used: For every unit of axlUSDC, there is a unit of USDC locked in a Gateway on Ethereum. Once minted, axlUSDC can flow from chain to chain, without going back through Ethereum. Gateway addresses on various EVM chains and the token addresses of axlUSDC on various chains are listed in the Axelar docs, here.
Where can you buy Axelar Bridged USDC?
Axelar Bridged USDC (AXLUSDC) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for AXLUSDC sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
You can open the Markets section above to see the live list of exchanges quoting AXLUSDC, sorted by 24-hour volume. Each row links to the venue's trade page so you can go directly from research to execution without copying the ticker around by hand.