Terra Collaborates with Axelar to Work on Interoperability Issues

Axelar, the leading decentralized protocol that allows cross-blockchain communications, has recently announced its integration with one of the leading stablecoins named Terra. The onus of this partnership is to connect dApp builders with the blockchain ecosystem effortlessly. As such, Axelar aims to make the cross-blockchain communication as simple as “HTTP” protocol on the web and partnering with Terra is the step towards that accomplishment. 

With this collaboration, blockchain platform builders can easily plug-in their blockchain network to all other blockchain ecosystems. The same thing applies for the dApp builders; they can host their application anywhere, lock/unlock, transfer assets, or even communicate with other applications on any other blockchain via the Axelar API. Both the platforms share a common objective of bringing global liquidity to any user and application across the globe in the larger blockchain ecosystem.

The collaboration between Axelar and Terra will also help users to effortlessly connect Terra’s native assets, like LUNA and TerraUSD, to other leading blockchain ecosystems like Ethereum, etc., directly from their wallets. Stock Synthetics platform Mirror and Savings Protocol Anchor will derive external assets from other blockchain networks due to this recent collaboration between Axelar and Terra, which is an added advantage for both the platforms.

Talking about his partnership, Sergey Gorbunov, the Co-Founder & CEO of Axelar, said,

Do Kwon, the Co-Founder & CEO of Terraform Labs, is also very hopeful about this collaboration bringing in positive outcomes for both the platforms, and said,