The cross-chain ecosystem of applications built on Axelar is growing quickly, including both interchain-native applications, as well as applications that have become established on a single chain and are now expanding to connect new users and assets.
Axelar is a programmable blockchain interoperability layer that facilitates secure interchain communication, enabling seamless interactions with assets and applications across different chains.
The Axelar Ecosystem Map shows the evolution of this cross-chain ecosystem of applications, sorted by category. It includes builders in DeFi, games, infrastructure, NFTs, payments and wallets.
A separate graphic shows a snapshot of the connected chains that application builders can access. (As this post is being published, the snapshot is already out of date: Axelar connects 43 chains, up from 39 just last week; visit Axelarscan.io for an up-to-date list.)
The cross-chain ecosystem: example applications
In this blog post, we will explore three notable projects within the Axelar ecosystem: Prime, Squid and Junkyard. These projects use Axelar's API to unlock seamless cross-chain experiences for both users and developers. Discover how Axelar's infrastructure empowers these apps to thrive in a chain-agnostic environment and revolutionize the way we engage with DeFi and NFTs.
Prime: Interchain-Native DeFi
Prime Protocol joins the cross-chain ecosystem of Axelar-connected apps as a chain-agnostic prime brokerage, offering the ability to accept any asset as collateral across different chains. This interchain, cross-margin functionality allows users to deposit assets from any connected chain and utilize their aggregate value as collateral for loans on other connected chains.
What sets Prime apart is that assets never leave their native chains. Users enjoy the convenience of interacting across multiple chains as though they were dealing with a single blockchain. By leveraging Axelar General Message Passing (GMP) capabilities, Prime is opening up new horizons for DeFi enthusiasts.
Squid: Cross-Chain Liquidity Routing Simplified
Squid's multicall feature allows applications to call multiple contracts in sequence, turning complex cross-chain operations into one-click transactions for users. The Squid team's confidence in Axelar's security measures is evident, as they adopt a "minimum surface area" approach to security. Squid and Axelar prioritize security by ensuring that Squid smart contracts solely execute the logic to route liquidity without holding any liquidity themselves.
Junkyard: Turning NFTs into a Game of Chance
Junkyard adds a touch of humor and fun to the cross-chain ecosystem while addressing the bear-market pain of now-worthless NFTs. This unique project utilizes Axelar GMP capabilities to create a lottery game for NFTs. Here's how it works:
Participants dump their NFTs into the Junkyard smart contract on Ethereum. Axelar securely sends the dumped NFT data to a contract on Polygon, where it is stored. When a participant "fishes" in the Junkyard, the Polygon contract calls a random beacon on Chainlink to select a set of NFTs from the Junkyard at random.
If a participant chooses to claim one of the fished NFTs, delivery is fulfilled on the Ethereum blockchain. Axelar ensures seamless communication and synchronization of state between Polygon and Ethereum, enabling a smooth and reliable user experience.
The recent surge in Junkyard's popularity, with 10,000 NFTs drawn in its random lottery, has highlighted the scalability and efficiency of Axelar GMP. The increased activity propelled Axelar GMP transactions to new all-time highs, as demonstrated on Axelarscan.
Exploring the cross-chain ecosystem
These three projects—Prime, Squid and Junkyard—offer just a glimpse into the Axelar ecosystem. They showcase the power and potential of Axelar GMP for chain-agnostic applications.
If you're curious about what else the Axelar ecosystem has to offer, scan the map above and take a deeper look through the Axelar ecosystem page. Explore the diverse collection of chains and applications committed to shaping the interchain future alongside Axelar.
More information can be found on Axelarscan, including this helpful guide to the cross-chain metrics vital for understanding the growth of the Axelar ecosystem, the role of the $AXL token and the expansion of the entire interchain space.
The journey doesn't end here.