axelar

Moonrock Capital founder Simon Dedic posted on X commenting on Circle's acquisition of Axelar, stating: "Another acquisition, another RUG. Circle acquires Axelar but explicitly excludes the foundation and AXL tokens, which is simply a criminal act. Even if it doesn't violate the law, it goes against ethics. If you are a founder looking to issue tokens: treat them like equity or get lost."Previously, Circle announced the acquisition of Axelar's initial development team, Interop Labs, but Axelar Network, Axelar Foundation, and AXL tokens are not included in this acquisition.

USDC issuer Circle has announced that it has signed an agreement to acquire the Interop Labs team and its proprietary intellectual property. This acquisition is expected to be completed in early 2026. Circle looks forward to contributing to the broader interoperability space and continuing to explore opportunities that align with its vision of an open, interconnected, and scalable on-chain economy.Interop Labs has been a key contributor to Axelar, one of the most advanced frameworks in cross-chain communication and token transfer, and has been driving the core development of Axelar alongside a growing community of open-source contributors. By directly integrating the talent and technology of Interop Labs into Circle, the aim is to accelerate the advancement of two core initiatives: the first is Arc—Circle's blockchain layer designed for enterprise applications, committed to becoming the operating system of the internet economy;The second is the cross-chain transfer protocol. It is important to clarify that this transaction only involves the Interop Labs team and its proprietary intellectual property. As this team joins Circle, the Axelar network, foundation, and AXL token will continue to operate independently under community governance, and the open-source intellectual property will remain open. Another contributor to the Axelar project, Common Prefix, will take over the relevant work of Interop Labs.

ChainCatcher news, according to The Block, the Axelar Foundation has announced a strategic AXL token sale worth $30 million. The foundation stated on Tuesday that several cryptocurrency investors participated in this token sale, including Arrington Capital, Distributed Global, Electric Capital, Laser Digital, C² Ventures, Plassa Capital, and Wagmi Ventures. However, the foundation declined to disclose the sale price or valuation of the AXL tokens. The Axelar Foundation plans to expand the use of dollars through stablecoins and support the institutional tokenization of real-world assets (RWA) via its interoperability protocol.A spokesperson for the foundation stated that these investments were made "in recent months." "Part of the investment involves purchasing unlocked AXL tokens from the Axelar Foundation's community project allocation, which will be subject to a new lock-up period ranging from six to twelve months." This means that the Axelar Foundation is not the only seller in this transaction. The spokesperson declined to disclose the identities of other sellers. Other sellers may have facilitated the transaction through over-the-counter (OTC) trading, where investors acquired AXL tokens that are already in circulation.According to the foundation's spokesperson, the latest $30 million investment announced by the Axelar Foundation, combined with the previous $100 million raised through multiple rounds of financing and a public token sale, further increases its total investment amount.

ChainCatcher news, according to official sources, former Acting Comptroller of the Currency Brian Brooks will become a member of the newly established Advisory Committee of the Axelar Foundation.

ChainCatcher news, according to CoinDesk, Canary Capital, an investment firm focused on digital assets founded by former Valkyrie Funds co-founder Steven McClurg, is planning to launch an ETF that tracks the price of Axelar (AXL).The company submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC) on Wednesday, initiating the process to launch such a fund. This hedge fund has previously filed for several other ETFs, some of which have received SEC confirmation and are awaiting approval.It is reported that Axelar is a cross-chain protocol that connects blockchains and has been integrated by major players such as JPMorgan, Microsoft, Uniswap, and MetaMask, and former Coinbase legal chief Brian Brooks has joined Axelar's new institutional advisory board.

ChainCatcher news reports that, according to Arkham monitoring, the DWF Labs address transferred 2.5 million AXL, worth approximately 1.11 million USD, to an address marked by Arkham as "suspected Axelar Network" two days ago. Based on the transfer records, it is speculated that the two parties may have ended their market-making cooperation plan, and the actual situation will depend on updates from DWF Labs and the Axelar Network team.According to on-chain data, DWF Labs received 2.5 million AXL on December 9, 2023, which was worth 1.93 million USD at that time. Observational data on March 1, 2024, showed that DWF Labs held a total of 5 million AXL, valued at approximately 12 million USD.On May 6, 2024, DWF liquidity market launched Axelar (AXL), and on October 12 of the same year, DWF Labs deposited 500,000 AXL into Binance, which was worth about 420,000 USD at that time.As of the time of publication, AXL is currently priced at 0.4093 USD, with a 24-hour increase of 2.92%, a 7-day decrease of 16.50%, a 30-day decrease of 21.87%, and a 90-day decrease of 58.28%.

ChainCatcher news, the Axelar token burn page is now live. Since the network upgrade was completed on February 21, over 90,000 AXL tokens have been burned in the past 5 days, with the current inflation rate at 4.8%.The Axelar Cobalt upgrade strengthens the AXL token economic model, ensuring that 98% of AXL transaction fees from new cross-chain interoperability connections are burned, while the remaining 2% is transferred to the community fund pool. The new blockchain connects through the Interchain Amplifier, a mechanism that is part of Axelar's Mobius Development Stack (MDS), and provides security through AXL staking in the validator reward pool. The reward pool supports new connections without the need for inflationary incentives.

ChainCatcher message, the planned network upgrade for Axelar has been successfully completed. The Axelar network, Satellite, cross-chain token services, relay services, token transfers, and general messaging have been restored online.The Gas fees for Axelar network transfers (AXL tokens) are now sent to the burn address, instead of being allocated to token holders.

ChainCatcher news, the stablecoin issuance protocol usdx.money announced the integration of Axelar's Interchain Token Service (ITS). USDX and its yield-bearing token sUSDX have been natively deployed on three chains: Arbitrum, BNB Chain, and Ethereum. USDX is a delta-neutral stablecoin pegged to 1 US dollar, while sUSDX is a yield-bearing token generated by staking USDX in a smart contract to earn base trading yields from CEX.Axelar's Interchain Token Service (ITS) allows tokens like USDX and sUSDX to exist on more blockchains. With an existing TVL of 600 million USD, USDX is expected to achieve further growth across multiple chains using Axelar's technology.

ChainCatcher news, according to official information, Flow has officially integrated with the Axelar network, becoming the 70th connected chain. Through the Axelar integration, applications based on Flow can access a broader cross-chain liquidity and applications on more than 70 blockchains, including chains such as Avalanche, BNB Chain, and the Cosmos ecosystem.This integration is achieved through Axelar's Interchain amplifier, and Flow is the first EVM chain to integrate using the Interchain amplifier, powered by Axelar's MDS.

ChainCatcher news, according to The Block, the TON Foundation has chosen Axelar's Mobius development stack as its preferred interoperability solution, aimed at enhancing the connectivity of the TON blockchain with other chains, enabling asset transfers between TON and other blockchains, and supporting the development of cross-chain decentralized applications.This integration will also prevent liquidity fragmentation, ensuring that assets do not become isolated on different chains, and will reduce user operation costs by providing a unified cross-chain experience.

ChainCatcher news, according to Cointelegraph, Lido DAO has voted to approve the introduction of stETH to the BNB Chain, and will adopt a solution in collaboration with Axelar and Wormhole to achieve this goal.Lido explains that bridging Lido Staked ETH (stETH) to the BNB Chain is an important milestone, marking Lido's first connection to a Layer 1 blockchain protocol outside the Ethereum ecosystem.Lido's market share in Ethereum staking fell below 30% at the beginning of 2024, after which it reached 1 million validators in April 2024. Additionally, DefiLlama data shows that the current total locked value (TVL) of the entire DeFi ecosystem is approximately $83.4 billion, with Lido's liquid staking accounting for $25.94 billion of the market TVL.

ChainCatcher news, the cross-chain interoperability network Axelar (AXL) Foundation will collaborate with blockchain analytics company Metrika to host a panel discussion at the Zero Point Forum in Zurich from July 1 to July 3. The discussion will focus on insights derived from specific papers and challenges related to asset tokenization, while hosting representatives from Citibank, Deutsche Bank, and Mastercard.

ChainCatcher news, Binance Research has released a report on "The Road to One Billion On-Chain Users": The adoption rate of blockchain networks is significantly slower than that of social media networks, and decentralized systems are inherently more complex than centralized systems. Many blockchain projects are dedicated to creating decentralized alternatives for existing centralized products and services.The report studies three types of future users: institutions, retail investors, and cryptocurrency skeptics. For institutions, deep liquidity is required to execute trades effectively and efficiently with capital. The current multi-chain world results in liquidity being fragmented across multiple independent distributed ledgers and Layer 2s. The lack of blockchain interoperability also forces institutions to decide on adopting specific blockchain ecosystems. Meanwhile, chain abstraction has become an important development in bringing institutions on-chain.The report introduces the cross-chain interoperability protocol Axelar (AXL) as a case study, noting that Axelar (AXL) has achieved some initial success in collaborating with institutions to promote blockchain development: In November 2023, the Axelar (AXL) team successfully conducted a proof-of-concept collaboration with JPMorgan's blockchain platform Onyx, which utilized Axelar's cross-chain technology to achieve interoperability with private and permissioned blockchains.In May 2024, Deutsche Bank announced a partnership with Interop Labs, the team behind the Axelar (AXL) network project. Interop Labs will support Deutsche Bank's participation in the asset tokenization testing project led by the Monetary Authority of Singapore (MAS) — Project Guardian. Deutsche Bank aims to explore the capabilities of open architecture and interoperable blockchain platforms.

ChainCatcher message, announced by Ripple-supported XRP Ledger, is set to launch a sidechain called "XRPL EVM sidechain," with Axelar as the exclusive cross-chain protocol. Axelar will enable users to convert XRP into wrapped XRP (eXRP), serving as the native token for gas fees on the sidechain.

ChainCatcher news, the Axelar Foundation, along with traditional financial giants such as Citibank, Deutsche Bank, and Mastercard, has released a joint research report titled "Institutional Interoperability: How Financial Institutions Navigate a Multi-Chain World." The report primarily explores how to enhance the accessibility and liquidity of tokenized assets while ensuring flexibility, privacy, transparency, and scalability. Notably, Deutsche Bank recently announced a partnership with Interop Labs to use Axelar for interoperable blockchain projects.This report provides financial institutions with a roadmap for developing opportunities in tokenized assets, which will face a range of complex public and private blockchains, as well as stringent requirements imposed by clients and regulations.Georgios Vlachos, board member of the Axelar Foundation and co-founder of Axelar, stated that tokenized assets must be designed with interoperability in mind, connecting off-chain ledger assets with on-chain assets. The key is how we can facilitate potentially thousands of connections between on-chain and off-chain ledgers in a secure, scalable, and open manner.