In the wake of the Multichain chaos, the Orbs community has been actively seeking a reliable alternative to enable the bridging of their ORBS tokens. Finally, a robust solution has emerged. Orbs has seamlessly integrated with the dynamic Axelar Satellite platform.
GM, ready the beacons! We've integrated ORBS w/ @Axl_Satellite powered by @axelarcore
— Orbs (@orbs_network) August 14, 2023
Satellite now supports $ORBS bridging across #Ethereum, #BSC, #AVAX, #FTM, #Arbitrum, and #Axelar
For more information regarding the bridge & Satellite – https://t.co/3ELYcEDh18 pic.twitter.com/fCNyqDFVQn
Axelar Explained
Axelar is a platform that provides secure cross-chain communication. Axelar empowers protocols to construct Interchain DApps capable of interoperable messaging. Axelar’s underlying architecture is based on a PoS consensus mechanism. Axelar’s protocol undergoes periodic security audits, offering an additional layer of assurance through its accessible GitHub repository.
Axelar derives its utility from the Satellite bridge, a web application facilitating cross-chain interactions. Satellite enables users to transfer their crypto assets across diverse blockchain ecosystems. The bridge has facilitated over 700,000 cross-chain transactions.
Orbs Explained
Orbs is a significant blockchain infrastructure project that has developed two key innovations: dTWAP and dLIMIT.
Decentralized Time Weighted Average Pricing (dTWAP) provides a decentralized and automated way to execute trades at an average price over a specific period. For example, suppose a user wants to buy a certain amount of cryptocurrency over an hour. In that case, they might use a dTWAP protocol to execute the trades at regular intervals, ensuring that the average price they pay remains stable and is not significantly influenced by sudden price spikes or drops that might occur within that hour. TWAP mechanisms are widely used in TradFi markets to reduce the impact of large trades on market prices.
Decentralized Limit Orders (dLIMIT) offer a decentralized and automated approach to executing trades at specific price levels, known as “limit orders.” Limit orders are a common concept in stock markets to enable traders to buy or sell an asset at a predetermined price. dLIMITS automatically execute a trade when the market rate for that order’s asset reaches a specific price level. dLIMITS in blockchain allow traders to price limit orders without relying on a centralized intermediary.
Forging a New Path
The integration of Orbs and Axelar Satellite signifies a new chapter marked by heightened security, efficiency, and the promise of a harmonized cross-chain experience. The Orbs community’s unwavering resolve and Axelar’s innovation herald a future where cross-chain connectivity isn’t just theoretical but tangibly accessible.
