Axelar Wrapped USDC (Base)

• Base

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• Asset Type: ERC-20

• Fully Diluted Valluation: $59.3M
• Total Supply: 59,300,000
• Volume (24H): $10.9M
• ATH: $1.23 (08/04/2022)
• ATL: $0.86 (03/11/2023)

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.

Axelar

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.