Axelar, the universal overlay network providing secure cross-chain communication for Web3, is partnering with Trisolaris and Aurigami to create a new decentralized cross-chain exchange (DEX) and cross-chain money market for Aurora. These additional installations will drive the growth of Aurora, which is NEAR Protocol’s Ethereum Virtual Machine (EVM). The new DEX and cross-chain money market will allow users holding AURORA, NEAR or USN to use these currencies to buy and sell ETH, AVAX, DOT or any other asset issued on Ethereum, Avalanche or Polkadot. Asset holders can then deposit, borrow and lend on any chain in the cross-chain money market.
The partnership will use Squid, a liquidity routing module that enables cross-chain exchanges and payments on Axelar, marking a huge step forward in the experience of Aurora users and the wider NEAR community.
Sergey Gorbunov, co-founder of Axelar, said: “This is a major step we are taking to advance our vision of a cross-chain future by onboarding millions of users into DeFi, ownership NFT, DAO governance and other applications on the decentralized web. For Web3 to be truly successful, the user experience must be seamless. Our framework addresses a major problem of early Web3 users, allowing dApp users to interact with any asset or application, on any channel, with a single click.
Using Axelar’s infrastructure, Aurora and NEAR users can buy any asset on any chain using Trisolaris’ cross-chain DEX, and deposit all assets on any chain to receive a loan on any other chain using Aurigami’s cross-chain money market. Trisolaris and Aurigami will act as a gateway for liquidity from other chains to Aurora and the broader NEAR ecosystem. Axelar will provide secure cross-chain communication that will allow Aurigami, Squid, and Trisolaris to perform cross-chain transactions in Turing-complete function calls that go beyond simple bridges. Squid will provide trustless liquidity and message routing through Axelar, allowing Aurigami and Trisolaris to connect and play liquidity on any DeFi app on any chain.
Anton Paisov, Head of Integrations at Aurora Labs, said, “Aurora believes cross-chain interoperability is the future and our partnerships announced today only reinforce that belief, bringing full cross-chain liquidity to Aurora. and enabling both buying and lending on any other channel, directly from Aurora, through the industry-leading solutions available to Axelar, Squid, Trisolaris and Aurigami.
Evie, Business Development at Trisolaris, said: “At this point, ad-hoc cross-chain connections are accessible through the use of pairwise bridges, but enabling secure cross-chain communication on a universal architecture moves the technology well beyond the current state. Axelar’s infrastructure has enormous potential for decentralized exchanges, and this technology brings us closer to mainstream adoption. »
Fig, co-founder of Squid, said, “This integration is where any crypto user or application will have access to Near and Aurora technology. Squid’s integration with Trisolaris will allow greater than ever volumes to flow through the Aurora ecosystem, in the most capital efficient way. Now developers can take advantage of smart contract modules and apps on Aurora, no matter what channel their app or users live on. »
A key part of this integration involves Aurigami, one of the largest DeFi protocols in the Aurora ecosystem. Money markets serve as the backbone of DeFi ecosystems, enable permissionless lending and borrowing without a centralized intermediary, and building on Axelar, Aurigami could provide this functionality across multiple ecosystems for Aurora users.
EY Tan, co-founder of Aurigami, said, “We believe the future of omnichannel is inevitable. Through this partnership with Axelar, we aim to consolidate and concentrate cross-chain liquidity, enabling greater capital efficiency and a smoother experience for Aurora users. This will open up unlimited new opportunities for Aurigami with other EVM chains and even the Cosmos ecosystem, allowing users to deposit assets on any chain, earn passive returns on assets, and instantly access crypto loans on any channel.
Aurigami (PLY) allows users to lend, borrow and earn interest with their digital assets. Depositors provide liquidity to the protocol to earn passive income, while borrowers can borrow over-collateralized. Aurigami is pioneering the concept of “Liquid Locked Tokens” to enable a native DeFi solution for acquired tokens. Aurigami is backed by leading investors such as Dragonfly Capital as well as Polychain Capital and is a proud recipient of DeFi grants from Proximity Lab.
Aurora is an Ethereum Layer-2 built on the NEAR protocol. Aurora offers 1000x lower transaction fees than Ethereum and closes transactions in less than two seconds. Aurora is fully interoperable with Ethereum, with ETH used as the base token and all existing Ethereum tools usable out of the box. Aurora includes the trustless Rainbow Bridge, allowing two-way transfers of any information from Ethereum, including ERC-20s. To learn more about Aurora, please visit https://aurora.dev.
Axelar provides secure cross-chain communication for Web3. As a universal overlay network, Axelar supports general message passing and program composability through a proof-of-stake transport layer. Development tools and APIs allow protocol and application developers to easily integrate interoperability. Axelar has raised capital from top investors including Binance, Coinbase Ventures, Dragonfly Capital, and Polychain Capital. Partners include major proof-of-stake blockchains, such as Avalanche, Cosmos, Ethereum, Polkadot, and Terra. The co-founders of Axelar are founding members of the Algorand team and award-winning graduates of MIT, where they received notable recognition as part of their graduate studies.
For more information, visit axelar.network, or follow us on Twitter at @axelarcoreor LinkedIn at https://www.linkedin.com/company/axelar/about/
About the squid
Squid is a cross-chain liquidity and messaging router, powered by Axelar. With a few lines of code, Squid enables one-click financial interactions between any app, channel, or user. Our API and SDK are for developers and dApp projects who want to implement decentralized, modular, and trustless cross-chain logic in the easiest way possible.
Follow Squid on Twitter and join their community on Discord here.
Trisolaris is the first and leading AMM DEX on Aurora with a philosophy for simple UI/UX, decentralization, and a multi-chain future. It is a unique community-owned trading platform with low fees and fast transactions. Users get a seamless trading experience similar to native Ethereum for a fraction of the cost, leveraging the quality underlying technology provided by Near and Aurora. Learn more about us at https://trisolaris.io.