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Everstake Now Supports Interoperability Through Axelar Protocol

At Everstake, we help institutions and regular individual investors make profits from their crypto assets, and we do this by aligning with top-tier blockchain projects, whilst giving crypto investors easy access to staking opportunities. Our team has been hard at work on this mission since 2018, and today we have more than $3 billion in digital assets under management and we’re trusted by over 625,000 delegates worldwide and counting.

That said, innovation, blockchain popularization, and crypto mass adoption are at the forefront of the projects we support, and today we’re excited to announce we’ve added an integral piece to that puzzle by validating the Axelar Network. This gives crypto-asset owners yet another incredible opportunity to produce profits from their crypto in an area of the blockchain space which is growing quickly - and that’s interoperability. So in this article, we’ll explain what Axelar is and why we chose to support this exciting network.

What Is Axelar and Why Did We Choose It?

Axelar is a universal decentralized network that connects many blockchains, assets, and applications through a universal set of protocols and APIs. They recently closed a $35 million Series B funding round at a $1 billion valuation, with investment and support from the likes of Coinbase Ventures, Binance, Polychain Capital, and even Do Kwon, the co-founder of the Terra Protocol, just to name a few.

What makes Axelar uniquely powerful is that developers can easily integrate their decentralized applications across all blockchain ecosystems, and this effectively creates increased access to users of blockchain technology, assets, liquidity, and other applications. This means developers can focus squarely on creating great cross-chain dApps that are truly scalable, rather than development time devoted to learning the inner workings of multiple protocols.

Axelar Is Solving Blockchain Interoperability

At Everstake, we already support a number of top-tier projects, however, deciding on the best ones to add to our roster of supported coins is never an easy task. We rigorously assess each project to ensure that it not only aligns with our ethos but also provides massive value to the blockchain space - which in turn provides our delegates with great investment opportunities. That said, it’s no secret that the demand for interoperability has increased substantially over the past year, making Axelar a prime choice for us to support - as they tackle this issue head-on.

More specifically, choosing to support the Axelar ultimately came down to a number of key factors including:

  • Their unique approach to interoperability and providing developers with the tools to build scalable, cross-chain dapps.
  • The network allows developers to leverage the strengths of different networks without trading them off for huge fees, low liquidity, or worrying about bridging assets and information. 
  • Axelar will broaden crypto's user base. That means you can be a fan of Solana and use Ethereum-based dApps. 
  • They’re already massively supported by blue-chip names in crypto, like Coinbase, Binance, and others. Also, their $1 Billion valuations also already give them unicorn status.
  • They have a highly skilled and transparent team
  • They’re focused on making blockchain development easier with their “plug and play connectivity” approach to connecting to new chains.
  • They are highly unique in that there are at present no existing decentralized protocols that can scale across arbitrary blockchains.

Here’s what the co-founder of Terra has to say about Axelar:

“In our mission to create scalable stablecoins for all blockchains, working with secure interchain protocols is a critical focus point. We’re thrilled to be working with the world-class Axelar team to use their upcoming interchain communication network to bring Terra stablecoins to any blockchain that needs them.”

Do Kwon, Co-Founder & CEO of Terraform Labs

Like many other top staking platforms and Web 3.0 projects such Terra, Polkadot, Avalanche, and others, we’re fully on board to work with the Axelar network and look forward to bringing this exciting staking opportunity to our delegate community. We are currently a testnet validator and invite you to stay tuned for updates on our website and social channels on how to participate in staking Axelar tokens through Everstake.

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