The Top Derivatives and Spot DEXs Adopt Axelar Network for Cross-Chain Connections
Vertex Protocol, a fast-growing DEX in Web3, has integrated with the Axelar network and Squid to enable cross-chain collateral deposits. This integration was announced on Twitter. Vertex Protocol has quickly become one of the largest derivatives DEXs by volume.
“With this integration, the top two derivatives DEXs and spot DEXs are all using Axelar network for cross-chain connections,” said Georgios Vlachos, Director of Axelar Foundation. The high level of adoption demonstrates the utility of Axelar network for DEXs aiming for mass adoption.
DEXs such as Uniswap, Pancakeswap, dYdX, and Vertex Protocol have achieved success by focusing on a single chain. However, they are now expanding into cross-chain functionality to provide better products and reach more users.
Axelar’s Features
1. Security
Axelar network offers proof-of-stake security and maintains a diverse and dynamic validator set. Its hub-and-spoke network architecture ensures liveness during emergencies.
2. Scalability
Axelar network connects more blockchains than any other cross-chain solution. It currently connects 54 out of the top 60 chains and has the capability to scale to hundreds or even thousands of chains.
3. Programmable
Axelar network is unique in its ability to run smart-contract logic in the cross-chain layer. This programmability enables seamless experiences for users, including gas-token abstraction and fast finality.
Build with Axelar
If you want to follow the lead of the top DEXs, Axelar offers a straightforward API and powerful SDK designed to simplify developers’ cross-chain integration. Visit docs.axelar.dev to learn more.
Hot Take: The Rise of Cross-Chain DEXs
The adoption of Axelar network by top derivatives and spot DEXs highlights the growing trend of cross-chain functionality in the crypto industry. DEXs that initially focused on a single chain are now expanding to offer seamless experiences across multiple blockchains. This shift allows them to reach a wider user base and develop better products.
Axelar network’s security, scalability, and programmability features make it an attractive choice for DEXs looking to provide cross-chain solutions. As more DEXs adopt this technology, we can expect increased interoperability and improved user experiences in the decentralized finance space.
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