Axelar Bridged USDC

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?

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.