Launching Native Tokens Across Chains with ITS

Launching Native Tokens Across Chains with ITS

Yup and KlimaDAO both recently launched tokens on Coinbase’s popular L2 network, Base, using Axelar’s Interchain Token Service (ITS), and Squid makes accessing these tokens a one-click breeze, no matter where users are coming from.

Having identified Base as an attractive network on which to continue growing and expanding their reach, ITS was the easiest and most robust solution available for launching a token with native qualities while preserving cross-chain compatibility.

Yup, a decentralized social media application, wanted a native form of their token on Base, where Farcaster has a deep presence, as well as connecting its users to popular NFT and memecoin projects on the chain.

KlimaDao, having originally launched on Polygon, was interested in activating the ability for users to retire carbon from any chain. They wanted to make it simple for anyone on Base to use its carbon-backed currency that internalizes the cost of carbon and provides an alternative foundation to economies that have enabled the negative environmental externalities associated with greenhouse gas emissions.

In both cases, ITS provided a simple, secure means of making their tokens natively cross-chain and easily accessible on Base. The developers simply:

• Upgraded their existing ERC-20 tokens into Interchain Tokens by deploying token managers
• And voila! Their tokens became available on Base and all other Axelar-supported chains of their choosing.

For projects that are launching a new token, the process is just as easy to create a new Interchain Token, with plenty of customization options available.

Best of all, access to these Interchain Tokens could not be simpler with automatic support from Squid for one-click swaps into $KLIMA and $YUP from anywhere. Check it out on app.squidrouter.com!