Sui, amidst high DEX volume and DeFi demand, taps Axelar to give asset issuers access to the record-breaking Layer-1 network via the most secure multichain tokenization opportunities.
NEW YORK–(BUSINESS WIRE)–$AXL—Axelar today advances global blockchain interoperability with the mainnet integration of Sui, the blockchain built for mass adoption, to advance their shared vision of empowering asset issuers to deliver seamless UX at limitless scale. The integration comes as DeFi surges on Sui, with more than 1.4M daily active wallets powering over $11B in DEX volume over the last 30 days alone. Sui’s connection via Axelar unlocks interoperability across all of crypto.
Tapping into Sui’s high-performance infrastructure and growing liquidity is now as simple as deploying a single smart contract on Axelar’s Interchain Token Service (ITS). This is what we mean when we say, «one connection; limitless possibilities.»
TLDR
- Axelar’s development stack includes toolsets like Interchain Token Service (ITS) that keep UX seamless across multiple blockchains with secure multichain tokenization.
- Sui has transformed UX so that users interact with apps, not chains – and set records in throughput, delivering sub-second finality via its innovative parallel processing consensus mechanism.
«Axelar enables asset issuers to leverage Sui’s industry-defining UX and scale to everyone across crypto,» said Christian Thompson, managing director of the Sui Foundation. «Both Sui and Axelar have built groundbreaking scalability solutions while maintaining best-in-class security, and I’m excited to see what this integration will unlock for developers.»
Chain abstraction = ‘Web2’ UX + institutional adoption
Internet users are accustomed to application experiences that abstract away multiple layers of infrastructure. Contrast that against the multichain era of Web3 today, where users themselves may be asked to stitch together bridges, wallets and gas tokens just to use an app.
Empowering asset issuers to overcome this fragmentation is the core capability of Axelar’s Interchain Token Service (ITS). Axelar and Sui share a worldview in which these barriers can be broken down and users can interact with applications, not chains.
Here’s a real-world example showing how financial institutions can now build compliant products that connect liquidity and access across multiple blockchains via Axelar ITS:
- Using Interchain Amplifier, they connect private and compliant new blockchains and communities as easily as deploying a smart contract.
- Using Interchain Token Service (ITS), they can mint tokenized assets as-native across these chains, preserving the same fungibility and functionality everywhere.
With Sui and Axelar integrated, these institutions now have unlimited scalability at their disposal, combined with built-in compliance and audit capabilities, institutional-grade security, and simple UX features like Sui’s zkLogin for onboarding. Institutions can add these innovative capabilities without creating user hurdles for their clients.
«Axelar introduces faster connections for everyone from financial institutions to consensus innovators like Sui,» said Georgios Vlachos, director at Axelar Foundation and co-founder of Axelar protocol. «Sui has made huge strides with institutions like Franklin Templeton, VanEck and Grayscale; Axelar has provided institutional-grade secure connectivity for Deutsche Bank and J.P. Morgan’s Kinexys. These institutions recognize the power of interoperability to enable compliant solutions at the full scale of Web3 liquidity and accessibility.»
Scalability = next-generation consensus + universal interoperability
With Sui and Axelar connected, industry-leading performance meets universal connectivity – and it’s only possible via Axelar. Sui’s proven sub-second finality has broken records for blockchain throughput. It’s based on Sui’s Mysticeti protocol powered by Bullshark, a novel decentralized acyclic graph (DAG) consensus mechanism, and Narwhal, a high-throughput mempool and consensus engine.
Without Axelar, protocol-level innovations like these can end up in silos, unavailable to the broader crypto ecosystem. Axelar abstracts the complexity of connecting advanced consensus mechanisms and issuing assets that are natively multichain, enabling integration via a simple smart contract.
Sui + Axelar = market impact and future vision
The mainnet integration of Sui and Axelar is a call to developers to build new applications Web3 has never seen before. Several of them are already planning and building multichain layers into their dApps – including Aftermath and Bluefin, two of the largest DEXs on Sui.
“Sui’s protocol-level capabilities have enabled Aftermath to deliver things that wouldn’t be possible anywhere else – like near-zero slippage, best-execution and a CEX-like user experience built fully on-chain,” said Aftermath Finance co-founder and CTO Kevin Nelson. “We’ve been looking forward to the Axelar connection, which will enable Aftermath to expand these innovations to every asset in Web3, reaching DeFi users everywhere.”
“Our North Star at Bluefin is to deliver an on-chain trading user experience that can compete with that of Binance. Sui makes this possible,” said Bluefin co-founder Rabeel Jawaid. “Axelar not only supports seamless bridging and onboarding, it will also enable Bluefin to connect liquidity cross-chain, accelerating our path to making on-chain a zero-tradeoff proposition for both retail and institutional users.”
With Sui connected to the broader crypto ecosystem via Axelar, asset issuers and developers enjoy:
- A unified API for accessing all major blockchain networks.
- A developer suite that includes Interchain Token Service for rapid multichain tokenization.
- Easy connection of new blockchains via Interchain Amplifier.
Axelar connectivity doesn’t stop with Sui. Axelar is accelerating connectivity to a list of major blockchains that includes Monad, Solana, TON, XRP Ledger, and dozens of L2s and application-specific blockchains, and these integrations have the power to bring greater liquidity to the Sui blockchain.
Get started building today and see how fast you can build the future of Web3 with Axelar and Sui:
- Register your token through the Axelar ITS Portal: docs.axelar.dev
- Apply to whitelist your token on Squid Router: docs.squidrouter.com
- Explore the Sui docs: docs.sui.io
About Axelar
Axelar is the Web3 interoperability platform, delivering the shortest path to scale: an open stack to connect all blockchains. Adopters include Uniswap, Microsoft and dozens of natively multichain startups with a combined total value locked (TVL) that has crossed $1 billion. Axelar supports a best-in-class developer stack on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain. Learn more: axelar.network.
About Axelar Foundation
Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar Network, a decentralized blockchain interoperability platform that connects multiple blockchain ecosystems. Learn more at axelar.foundation.
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Karla Vilhelem
PR Director, MarketWaves
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