Axelar, a well-known Web3 interoperability ecosystem, has announced its integration with Secured Finance, a DeFi protocol to borrow and lend digital assets, and Squid, a top cross-chain swap platform. As per Secured Finance, this integration is poised to substantially improve omnichain transactions. The platform revealed this integration on its official X account.
Axelar, Squid, and Secured Finance Integrate to Advance Cross-Chain Asset Swaps and Liquidity
Axelar intends to boost blockchain interoperability via its strategic integration with Secured Finance and Squid. This development will substantially improve the cross-chain swaps through the Filecoin Virtual Machine. Hence, the users will potentially have the ease to leverage more rapid and smoother fund transactions along with significant liquidity within the ecosystem.
This endeavor takes place before the highly anticipated release of $USDFC (the stablecoin supported by Filecoin’s native token $FIL). This release is scheduled to occur in March this year to increase the DeFi protocols’ adoption on FVM. With the seamless digital asset transactions across blockchains, the integration will let consumers conveniently shift funds out of and into the FVM. This will enhance liquidity and broader activity within the network.
Delivering Consumer-Friendly Swap Widget for Rapid Conversion of $USDFC
Axelar is renowned for bridging assets throughout prominent blockchains like Avalanche, Cosmos, and Ethereum in a secure manner. The platform’s integration into the ecosystem of Secured Finance ensures a secure and resilient framework for transferring assets. In addition to this, Squid reportedly builds on the respective foundation with the provision of a consumer-friendly swap widget. It streamlines the bridging procedure, letting consumers rapidly convert their $USDFC holdings into their favorite digital assets on diverse chains.
Shawn, Axelar Network’s initial developer, also commented on this integration. He acknowledged rapid evolution of Filecoin’s ecosystem while highlighting the significance of interoperability. Keeping this in view, he deems the latest integration to be a big move to streamline the bridging procedure to FVM. Thus, the users can have seamless swaps across chains.
Secured Finance to Organize a Task-Based Reward Program to Expedite Community Engagement
According to Axelar, the mutual initiative simplifies cross-chain asset transfers. This leads to enhanced DeFi growth as well as improved liquidity across diverse blockchain networks. Moreover, Secured Finance is also conducting a task-based reward program via Galxe to boost community engagement. All of this aims to fortify benefits of transfers across chains while spreading awareness before the mainnet launch of $USDFC.
