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What is ITS? Interchain Token Service

2024-05-09
What is ITS? Interchain Token Service

Introduction

Interchain Token Service (ITS) is live on Squid and so is support for Interchain Tokens. It’s easier than ever to move tokens across chains with ITS on Squid. But what does that all mean? Let’s break it down.

What is ITS?

Axelar’s Interchain Token Service enables any project from any chain to deploy ERC-20 tokens across multiple blockchains. Interchain Tokens can be created from scratch, or can be updated from existing tokens on a supported chain. No matter the case of where they come from, once Interchain Tokens are deployed they maintain their native token qualities and custom functionality.

It’s costly to mint tokens on multiple chains, and bridged tokens lose their fungibility and custom features. ITS is the solution for projects, Squid is the solution for users.

Where to get Interchain Tokens

When projects deploy Interchain Tokens with Axelar’s ITS, they become instantly available for users on Squid. Easily swap, move, and send Interchain Tokens across chains with Squid.

Just like ITS solves pain points for projects deploying tokens on multiple chains, Squid offers users the easiest way to move tokens cross-chain today.

Instead of bridging or swapping into wrapped assets, or having native tokens spread across multiple chains, you simply have the native token you want on the chain you prefer.

Visit Squid and move Interchain Tokens across chains today!

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