What is Axelar Wrapped Ether (AXLETH)?
What is the project about? axlETH is a wrapped, multi-chain representation of Ethereum. For each unit of axlETH, there is a unit of ETH locked in an Axelar Gateway on Ethereum. axlETH 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 axlETH 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 How is axlETH secured?
How does Axelar Wrapped Ether work?
Like all Axelar-wrapped assets, axlETH's security depends on a dynamic validator set (numbering 75 at this writing), running delegated proof-of-stake. In other words, Axelar secures cross-chain communication using the same approach as many of the chains it connects. Units of axlETH are minted when a user deposits USDC into a Gateway contract on the Ethereum chain. Axelar's decentralized validator set secures these Gateways via key shares in a multiparty cryptography scheme.
What is Axelar Wrapped Ether used for?
Here's a brief explanation of Gateways and how they are secured, from the "Learn More" section of the Axelar documentation: Once a cross-chain message is initiated by a dApp user, its first stop is to interact with an Axelar Gateway. On each chain connected to Axelar network, a Gateway is deployed. On EVM chains, it is a smart contract address. On Cosmos and other non-EVM chains, it is an application with logic and the ability to communicate with Axelar network.
Where can you buy Axelar Wrapped Ether?
Axelar Wrapped Ether (AXLETH) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for AXLETH 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 AXLETH, 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.