Axelar Integrates Elys Blockchain
Elys, a DeFi platform built on the Cosmos ecosystem, is integrating with Axelar Network to scale its vision of better DeFi user experience (UX) enabled by chain abstraction and unified liquidity.
Elys has created a DeFi hub across the Cosmos ecosystem, providing staking, swaps, liquidity mining and leveraged LP across top Cosmos assets. They're also developing key features like a perp DEX, perpetual orderbook, and prediction market. The goal is simple: access every DeFi tool you need, all in one place, across every ecosystem.
To date, the platform has $3.3 million in TVL and has handled $17 million in volume over the past year ( source).
Elys takes a holistic platform approach, featuring innovations such as account abstraction and smart-shielded pools to tackle challenges like impermanent loss, arbitrage inefficiencies, slippage, and high fees. Elys is changing the way DeFi users engage, uniting fragmented liquidity and pioneering a user experience that is smoother and more rewarding.
'The Cosmos ecosystem provides incredible technology to enable specialized blockchains like Elys to focus on what they do best –it\'s the same reason we chose to build Axelar using Cosmos SDK,' said Georgios Vlachos, Axelar Foundation director and Axelar protocol co-founder. 'Now that they have found product-market fit, Axelar is here to help them scale beyond the Cosmos and deliver their innovation to Web3 at large.'
'Cosmos was designed to be the Internet of Blockchains, and Axelar is extending that vision across every ecosystem in Web3. That's why we chose to build within the Cosmos ecosystem – it\'s the best place to connect with every network while allowing us to create a chain tailored to our needs using the Cosmos SDK,' said Hesham Aly, co-founder of Elys Network. 'Every road will lead to the Cosmos ecosystem, and Elys Network will make it seamless for anyone to own, use and trade whatever they want.'
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.
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