Axelar Network is a platform that provides secure internetworking for Web3. She has been for a long time the best a way to connect EVM and Cosmos Ecosystem through bridges. And now it has become available between these networks General Message Passing (GMP), which practically erases everything borders!
GMP allows developers using one network to call any functions on any other associated network. Until now, this was only available between EVM networks. With GMP this connection comes out beyond simple bridge, supporting new generatione internetworking applications that combine the best of Cosmos and EVM. It means full layout in Web3.
Sommelier Finance is a prime example of potential successful GMP application. It is an innovative asset management protocol based on Cosmos, with a mission to make DeFi more affordable, profitable and efficient for all.
The other day Sommelier announced about his connection with Arbitrum by using Axelar GMP. The project believes GMP key to rapid scaling DeFi in the ecosystem EVM. WHAT DOES THIS GIVE?
🔸Storages previously worked only on blockchain Sommelier within the Cosmos Ecosystem, but now they will also run on Ethereum and Arbitrum.
🔸Users will be able maximize profit from your crypto assets by accessing lending and trading services. Moreover, their funds automatically move between different assets in DeFi vaults.
🔸 Sommelier will use GMP for management DeFi smart vaults, first on Arbitrum and then on other L2 blockchains.
And this is just the beginning! At the moment, we already know about dozens of projects that plan to cooperate with Axelar Network, which will allow users to interact with any asset, any application, literally on any network one click.
Based thread : Evaneskate
