Axelar Q3 2024 Brief: Introducing the Mobius Development Stack

Messari · 2024-12-13T12:35:00+00:00

- At the end of Q3, **Axelar introduced the Mobius Development Stack (MDS)**. This new development stack leverages the Interchain Amplifier, the Interchain Token Service (ITS), and the Axelar Virtual Machine (AVM) to provide the industry with cross-chain interoperability standards.- MDS will allow **new chain integrations via smart-contract layer Verifiers**: Flow, Solana, Stellar, XRP Ledger, Hedera, Stacks, Sui, and Bitcoin are planned, subject to on-chain governance. MDS connections are secured by non-inflationary pools of AXL, with the option to augment security with restaked ETH or BTC via **EigenLayer and Babylon**.- In Q3, AXL’s **circulating market cap increased by 11% QoQ to $499 million**, a 257% YoY increase.- **Institutional adoption of Axelar for RWA interoperability:** The Axelar Foundation released a whitepaper on institutional interoperability with insights from Citi, Deutsche Bank, Mastercard, Northern Trust, Metrika and Centrifuge. Axelar will be integrated into a Deutsche Bank pilot this year in the Monetary Authority of Singapore's Project Guardian – the second year in a row Axelar has supported a Project Guardian initiative.- Interchain Amplifier: Now on mainnet since August 28, a simple, permissionless way to connect any chain with the Axelar network and its interconnected chains. It enables dynamic, customizable integrations, with chains like Sui, Aptos, and Solana cued up to connect. New connections take place at the smart-contract layer, where bonded Verifiers attest to on-chain events and are compensated in non-inflationary pools of AXL.- Interchain Token Service (ITS): An institutional-grade set of tokenization tools that replace bridges completely, enabling the minting and managing of tokens across any connected blockchain. With ITS, tokens can move cross-chain natively while maintaining full functionality and fungibility.- Axelar Virtual Machine (AVM): underpins Amplifier and ITS to enable smart contract logic at the cross-chain layer. This opens doors for a new generation of multichain developer tools and sophisticated dApps. Ethereum introduced programmable money; Axelar introduces programmable interoperability.- New Chain Integrations: Flow, Solana, Stellar, XRP Ledger, Hedera, Stacks, Sui, and Bitcoin- EigenLayer integration- Babylon integration- OpenZeppelin library integration and open interoperability interface- Updated AXL token supply mechanism- The Axelar Foundation, in collaboration with Metrika, released its whitepaper on Institutional Interoperability with insights from Citi, Deutsche Bank, Mastercard, Northern Trust, and Centrifuge to. The paper highlights the importance of tokenized assets, which will need robust interlinked network models to power the tokenized future. In September, the SVP of Blockchain and Digital Assets at Mastercard discussed the need for institutional interoperability.- Axelar initial developer Interop Labs will join Deutsche Bank in Project Guardian, exploring asset tokenization applications. Project Guardian is the Monetary Authority of Singapore’s (MAS) collaborative initiative with the financial industry to test the feasibility of asset tokenization and DeFi, aiming to enhance the liquidity and efficiency of current markets. 2024 is the second year in a row Axelar has supported a Project Guardian initiative, having joined Onyx by J.P. Morgan (now called Kinexys) in a 2023 proof-of-concept.

Messari

At the end of Q3, Axelar introduced the Mobius Development Stack (MDS). This new development stack leverages the Interchain Amplifier, the Interchain Token Service (ITS), and the Axelar Virtual Machine (AVM) to provide the industry with cross-chain interoperability standards.
MDS will allow new chain integrations via smart-contract layer Verifiers: Flow, Solana, Stellar, XRP Ledger, Hedera, Stacks, Sui, and Bitcoin are planned, subject to on-chain governance. MDS connections are secured by non-inflationary pools of AXL, with the option to augment security with restaked ETH or BTC via EigenLayer and Babylon.
In Q3, AXL’s circulating market cap increased by 11% QoQ to $499 million, a 257% YoY increase.
Institutional adoption of Axelar for RWA interoperability: The Axelar Foundation released a whitepaper on institutional interoperability with insights from Citi, Deutsche Bank, Mastercard, Northern Trust, Metrika and Centrifuge. Axelar will be integrated into a Deutsche Bank pilot this year in the Monetary Authority of Singapore's Project Guardian – the second year in a row Axelar has supported a Project Guardian initiative.
Interchain Amplifier: Now on mainnet since August 28, a simple, permissionless way to connect any chain with the Axelar network and its interconnected chains. It enables dynamic, customizable integrations, with chains like Sui, Aptos, and Solana cued up to connect. New connections take place at the smart-contract layer, where bonded Verifiers attest to on-chain events and are compensated in non-inflationary pools of AXL.
Interchain Token Service (ITS): An institutional-grade set of tokenization tools that replace bridges completely, enabling the minting and managing of tokens across any connected blockchain. With ITS, tokens can move cross-chain natively while maintaining full functionality and fungibility.
Axelar Virtual Machine (AVM): underpins Amplifier and ITS to enable smart contract logic at the cross-chain layer. This opens doors for a new generation of multichain developer tools and sophisticated dApps. Ethereum introduced programmable money; Axelar introduces programmable interoperability.
New Chain Integrations: Flow, Solana, Stellar, XRP Ledger, Hedera, Stacks, Sui, and Bitcoin
EigenLayer integration
Babylon integration
OpenZeppelin library integration and open interoperability interface
Updated AXL token supply mechanism
The Axelar Foundation, in collaboration with Metrika, released its whitepaper on Institutional Interoperability with insights from Citi, Deutsche Bank, Mastercard, Northern Trust, and Centrifuge to. The paper highlights the importance of tokenized assets, which will need robust interlinked network models to power the tokenized future. In September, the SVP of Blockchain and Digital Assets at Mastercard discussed the need for institutional interoperability.
Axelar initial developer Interop Labs will join Deutsche Bank in Project Guardian, exploring asset tokenization applications. Project Guardian is the Monetary Authority of Singapore’s (MAS) collaborative initiative with the financial industry to test the feasibility of asset tokenization and DeFi, aiming to enhance the liquidity and efficiency of current markets. 2024 is the second year in a row Axelar has supported a Project Guardian initiative, having joined Onyx by J.P. Morgan (now called Kinexys) in a 2023 proof-of-concept.