$AXL
The strategic integration of DePIN infrastructure Parasail and the general interoperability platform Axelar marks an important advancement in the DePIN field. Through this collaboration, Parasail will be able to leverage Axelar's Interchain Token Service (ITS) and SquidRouter to provide users with a more convenient DePIN staking experience. Axelar's ITS allows ERC-20 tokens to maintain fungibility and properties across multiple supported EVM-compatible blockchains, enabling free cross-chain movement of tokens. This means users can execute token transactions and cross-chain staking on different blockchain networks without needing to hold the native DePIN tokens or rely on hardware resources.
Additionally, Axelar's ITS supports one-click deployment across multiple chains and allows teams to customize special features for tokens, which can be synchronized across the deployed multiple chains. As the first (Re)Staking Layer for DePIN, Parasail aims to enable DePIN protocols to build staking layers in a simple and cost-efficient manner through its modular solutions, ensuring service levels and enabling DeFi use cases for its staked tokens. Through this integration, DePIN tokens will unlock new opportunities within the multi-chain ecosystem, enhancing the interoperability and liquidity of DePIN projects while also providing a broader user base and market access for DePIN projects.
