Axelar enables secure interchain communication, so that users bridging tokens can rely on delegated Proof-of-Stake (dPoS) security behind their cross-chain transactions.
That's good, but what can these cross-chain explorers do, once they land on new chains? Cross-chain pairs are few on dexs, and may rely on legacy bridges with doubtful security.
Now, there is a better way for travelers voyaging from Ethereum to the Cosmos. Axelar, BNB Chain and Osmosis are supporting cross-chain liquidity for Ethereum-based BUSD on Osmosis, the largest and most liquid dex in the Cosmoverse.
Ethereum users bridging BUSD into the Cosmoverse will find pools on Osmosis, providing liquidity for their swaps and opportunities to LP, including a 3pool with USDC and USDT.
Axelar is the provider of canonical bridged assets on Osmosis. Now, Binance has chosen Axelar to support BUSD interoperability with the Cosmos Ecosystem. Axelar is connecting the Ethereum-based version of BUSD into Cosmos on Satellite, Axelar's bridging app.
BUSD is a 1:1 USD-backed stablecoin approved by the New York State Department of Financial Services (NYDFS) and issued in partnership with Paxos. It's the No. 3 stablecoin in the world, by circulating supply.
This initiative means BUSD, a pillar of Web3 liquidity, is now a cross-chain stablecoin, enabling liquidity across multiple ecosystems. This kind of liquidity is valuable to Web3 users in Cosmos and EVM ecosystems. As interest in Cosmos has grown, Axelar has played a critical role in bridging liquidity for users interested in exploring this growing ecosystem. (This was especially evident after the crash of Terra's algorithmic stablecoin, UST.) Axelar is the only decentralized, Turing-complete network to connect EVM and Cosmos ecosystems.
Note: LPing involves more risk than staking. Do your own research.