Axelar-Mysten partnership enables secure General Message Passing

https://www.businesswire.com/news/home/20220927005453/en/Axelar-Partners-with-Mysten-Labs-to-Bring-General-Message-Passing-to-Sui-Blockchain

Axelar Partners with Mysten Labs to Bring General Message Passing to Sui Blockchain

Axelar, the proof-of-stake blockchain that connects Web3 ecosystems like Avalanche, Osmosis and Polkadot, is partnering with leading infrastructure company Mysten Labs, which recently raised a $300 million Series B investment round, to enable decentralized applications built on Mysten’s Sui blockchain to deliver cross-chain user experiences that span Web3 in a single click. The Axelar-Mysten partnership, by enabling secure General Message Passing and offering developers the ability to fully leverage the power of Sui’s Ethereum-compatible, chain agnostic multi-chain applications, significantly advances the prospect of a "super dApp" that will bring the next billion users to Web3. The announcement follows the release of Axelar’s $AXL utility token shared with holders today, which provides essential network security.

Mysten Labs' Move programming language — primed to be the “the JavaScript of Web3” — improves security for Web3 dApp developers and end users, by defining assets in modules that flow across trust boundaries. Axelar’s General Message Passing will enable dApps built in Move on the Sui blockchain to call any function on any external chain. For example, developers can allow users to deposit any digital asset, on any chain, including NFTs, for borrowing in any dApp on any chain. Application users can “tap in” with whatever token, wallet, and blockchain they desire, with no need to bridge or swap to access features.

“In order to reach the next billion end users, Web3 needs to onboard millions of developers. Mysten Labs is paving the way for that with an asset-oriented programming language and a developer-friendly environment," said Sergey Gorbunov, co-founder of Axelar. "Adding General Message Passing means developers building apps on Sui will be able to focus on the features that differentiate their dApps, securely composing functions across all blockchains and assets."

Potential use cases for this partnership range from incorporating liquidity for digital assets into gameplay in Web3 games to leveraging digital assets as collateral for multi-chain borrowing and lending. Axelar and Mysten are creating an environment that moves beyond siloed ecosystems and allows developers to pull from all of the resources that the Web3 ecosystem has to offer. The result is the potential for the creation of a “super dApp” that leverages each individual blockchain’s unique benefits for an all-in-one, user-friendly application.

“Axelar shares our vision for onboarding the next billion users to Web3 by making it as easy as possible for developers to do what they do best – develop," said Evan Cheng, co-founder and Chief Executive Officer of Mysten Labs. "We have been incredibly impressed with the team and momentum at Axelar and are excited by the opportunity to partner with them."