A collaboration has been established between Function X Foundation and Axelar, a network that has integrated f(x)Core through IBC. This integration will establish a direct correlation between the systems, thereby eliminating the need for the Cosmos Hub.
Axelar enables the interconnection of more than fifty blockchain networks, providing alternatives to permissionless programming and decentralized security. As an indispensable instrument for integrating off-chain mechanisms with on-chain networks, it has gained immense traction among major corporations such as Microsoft. Axelar has significantly contributed to the development of composable USDC by integrating Circle’s CCTP with Axelar’s General Message Passing technology.
Incorporating f(x)Core and Axelar into Function X represents a watershed moment in the company’s history, as it enables users to access additional on-chain assets and liquidity. By facilitating enhanced cross-chain visibility, the integration enhances user engagement with Function X and the broader blockchain ecosystem.
Subsequently, Function X will establish a connection between the bundled assets acquired from Axelar and f(x)Core, while also exploring potential integrations of applications on Axelar.
Axelar is a leading Web3 interoperability platform that facilitates the communication of over 50 blockchains for advanced applications over a secure and programmable network-internet framework. Several companies, including Uniswap and Microsoft, have partnered with Axelar to develop cross-chain services. In addition to Binance and Coinbase, Dragonfly, Galaxy, and Polychain also provide support.
In contrast, the Function X Foundation is an autonomous and non-profit entity that supports the improvement of the Function X ecosystem. This internet service infrastructure is genuinely state-of-the-art, having been built on and for the blockchain. The Foundation is responsible for overseeing the administration of the Ecosystem Genesis Fund, which was created to encourage service providers to connect with the Function X Ecosystem.
