Aethir Is Live on Axelar
June 28, 2024

Aethir Is Live on Axelar


As part of our dedication to providing the Aethir community with highly reliable and easy-to-use services, we are integrating Axelar as our official bridging platform. Axelar is the global leader in blockchain interoperability, connecting over 60 popular blockchains through a secure and highly scalable infrastructure network that allows massive Web3 projects to efficiently conduct cross-chain swaps and integrate different blockchains within their platforms. Thanks to Axelar’s API and accompanying suite of ecosystem development tools, the Aethir DePIN stack now has the best-in-class interchain token service at its disposal. 

Why Axelar?

Our recently launched ATH token is a multichain asset on the Ethereum mainnet and the Arbitrum Layer-2 blockchain. Checker Node and Aethir Edge rewards use Arbitrum-based ATH, while our staking service, partner platforms, and centralized exchanges use the Ethereum mainnet version of ATH. To provide a smooth, frictionless cross-chain bridging experience for members of the Aethir ecosystem, we’ve chosen Axelar as our exclusive blockchain bridge solution. There are various high-quality blockchain bridging services on the market, but none offer Axelar's scope, flexibility, and reliability. The Axelar network consists of a decentralized network that bridges blockchain ecosystems, which speak different languages, and a protocol suite with APIs on top, making it easy for applications to perform cross-chain requests.

Moreover, Axelar’s vast ecosystem of interoperability tools allows Aethir to integrate new cross-chain features should the need arise. Given that Aethir is constantly evolving and onboarding new partners across different blockchains into our own ecosystem, utilizing Axelar as Aethir’s official cross-chain solution is a visionary step that empowers our future growth. 

With Axelar’s Interchain Token Service (ITS), the Aethir community gains access to the market's most versatile cross-chain token service.

What Is ITS?

Axelar’s Interchain Token Service (ITS) enables any project from any chain to deploy ERC-20 tokens across multiple blockchains. Interchain Tokens can be created from scratch or updated from existing tokens on a supported chain. No matter where they come from, once Interchain Tokens are deployed, they maintain their native token qualities and custom functionality. In Aethir’s case, this means that apart from seamlessly bridging ATH from Arbitrum to Ethereum mainnet and vice-versa, we also have the flexibility to deploy ATH variations on dozens of additional networks if needed. 

Interchain Tokens run on open-source code via smart contracts on a public blockchain secured by a dynamic validator set, making them a safe choice for token deployment. Also, when issuing Interchain Tokens, issuers can customize burn-and-mint or lock-and-mint mechanisms and get canonical versions with the same address. Furthermore, these tokens are customizable with features like staking rewards rates, governance authorization, and token permissions, which means they go cross-chain with all of the initial token’s key characteristics intact.

Minting tokens on multiple chains is costly, and bridged tokens lose their fungibility and custom features. By choosing to deploy ATH through Axelar’s Interchain Token Service, we are making ATH an extremely versatile asset that can easily be integrated with ecosystem apps and platforms across different blockchains and without the high prices usually associated with blockchain bridges.

ITS is the solution for projects, while Squid is the consumer-grade solution for users. With Squid, members of the Aethir community can easily swap their Arbitrum-based Checker Node or Aethir Edge rewards for the Ethereum mainnet version of ATH. Squid is powered by Axelar’s virtual infrastructure and leverages ITS to maximize efficiency while minimizing costs. When using Squid, the Aethir community has a lightning-fast blockchain bridge at their fingertips and doesn’t need to worry about hefty fees. 

Our choice to utilize Axelar’s ITS and Squid is a testament to our dedication to empowering the Aethir community with simple, user-friendly experiences across the Aethir ecosystem.

About Axelar

Axelar is the Web3 interoperability platform, delivering the shortest path to scale on an open stack to connect all blockchains. Adopters include Uniswap, Microsoft, and dozens of natively multichain startups, building applications to reach all blockchain users at once – 10X as many active users as the leading Web3 application environment. Axelar supports smart contracts on a cross-chain layer that is open, scalable, and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain.

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