Secret Network recently announced a partnership with Axelar. The strategic collaboration will see the projects offering private, cross-chain NFT transfers and messaging.
In addition, Secret Network will gain access to Axelar’s interoperability ecosystem, unleashing intuitive ways to interact with other blockchains. Since Axelar is already connected to Avalanche, Polygon, Moonbeam, Ethereum, Fantom, and multiple other IBC blockchains, the partnership will help Secret expand its reach immensely.
Sergey Gorbunov, the Co-Founder of Axelar, talked about the recent partnership. According to Sergey, the constant growth and scaling of the industry have exposed the restrictions surrounding the lack of blockchain privatization.
As Secret Network illustrates the unmatched potential of its privatization, more projects are becoming aware of it. Privately trading NFTs and DeFi are the two most popular examples in the current market setting. That is why the latest collaboration with Axelar unlocks new possibilities for blockchains and users to leverage these innovations, added Sergey.
Secret Network will assist Axelar-connected apps in sending private messages across siloed blockchain networks. Its potential use-cases include private NFT trading, private DAO voting, and front-running resistant swaps.
The partnership promises front-running resistance and complete privacy for activities like swapping Ether or Ethereum. This way, a cross-chain decentralized app can:-
- Send Ether from an Ethereum wallet to Secret using Axelar.
- Use a Secret automated market maker to swap Ether for WBTC privately.
- Send WBTC back to the Ethereum wallet via Axelar.
All these activities can be undertaken in one click without any front-running. This opens numerous strategic possibilities, such as borrowing or lending cross-chain without sharing the liquidation levels. That is just the start, as users are sure to find new and innovative use-cases for the integration.
At the same time, the collaboration will expose Secret users to new tokens, including MATIC, AVAX, and DOT. Satellite is already using the functionality across its cross-chain dApp. The dApp was created by Axelar, allowing users to transfer assets across multiple chains using a web-based user interface.
Secret Network and Axelar have put in massive efforts and ideas to make this integration a huge hit. Thus, seeing how welcoming the market has been regarding the collaboration, it is sure to generate even more buzz in the coming weeks.