Axelar Wrapped USDC (Base)

axlUSDC

axlUSDC is a wrapped, multi-chain representation of USDC.

Risk Rating
Average
$1.00
0.03%
What is Axelar Wrapped USDC (Base)?

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Information
Blockchain
  • Base
Info
Key Metrics
  • Fully Diluted Valluation: $59.2M
  • Total Supply: 59,300,000
  • Volume (24H): $16.7M
  • ATH: $1.23 (08/04/2022)
  • ATL: $0.86 (03/11/2023)
Risk Assessment
Average
Asset Strength

axlUSDC is a large-cap, fully collateralized asset. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of Satellite (Axelar), a protocol rated as Watch out.

axlUSDC is a stablecoin that usually trades within 20bps of its peg to USD, which makes it a solid store of value.

Dependencies

Axelar

Asset Tokenomics

axlUSDC has an uncapped supply but has inflation control or burn mechanisms in place. axlUSDC on Base is backed 1:1 by USDC locked in an Axelar Gateway on Ethereum. USDC is fully redeemable for its USD reserves, providing an effective mechanism to retain the peg to $1.

Things to know about axlUSDC

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axlUSDC Pools
Beefy USD Market Making
12.9%
Yield
$109K
TVL
Risk
D
Protocol
Beefy
Chain
Base

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