Interchain Tokens are ERC-20 tokens that exist on multiple blockchains, allowing users to transfer value seamlessly between these blockchains. Axelar facilitates the creation and management of Interchain Tokens through its Interchain Token Service.
This guide only summarizes the Interchain Token Service. Please refer to our developer docs for detailed guides how to
- Programmatically Create a New Token Using the Interchain Token Service
- Programmatically Create a Canonical Interchain Token Using the Interchain Token Service
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Creating Interchain Tokens
Interchain Token Service
The Interchain Token Service, deployed to 0xB5FB4BE02232B1bBA4dC8f81dc24C26980dE9e3C, is responsible for creating and managing Interchain Tokens. Additionally, the Interchain Token Factory, deployed to 0x83a93500d23Fbc3e82B410aD07A6a9F7A0670D66, aids in the deployment of Interchain Tokens.
Paths for Token Creation
Create a New Interchain Token through the Interchain Portal
- Visit the Interchain Portal.
- Connect your wallet.
- Select a source network.
- Choose to deploy a new Interchain token.
- Provide token details (Name, Symbol, Decimals, Amount to mint).
- Optionally, add the token amount to mint on each selected chain.
Create a Custom Interchain Token
- Build and deploy your ERC-20 token on multiple chains.
- Deploy a Mint/Burn - Token Manager for existing tokens on all chains.
- Enable the Interchain Token Service to invoke Mint/Burn functions on the token by calling `transferMintership()`.
Transforming Existing Tokens into Interchain Tokens
Canonical Tokens (Simple Wrappers)
- Register an ERC-20 token as a Canonical Token with the Interchain Token Service using the Interchain Token Factory.
- Deploy remote canonical Interchain Tokens on destination chains.
- Approve the Interchain Token Service to spend tokens and transfer Interchain Tokens between chains.
Linking Deployed Tokens on Multiple Chains
- Deploy your custom token on multiple chains.
- Deploy a Mint/Burn - Token Manager for existing tokens on all chains.
- Transfer Interchain Tokens between chains via the Interchain Token Service.
Sample Custom Token
Axelar provides a sample custom token for users as a starting point.
Considerations and Security
- Ensure due diligence on the security practices of all chains your token will be deployed to.
- The security of your token is limited to the security of the integrated chains.
Interchain Tokens on Axelar offer a versatile solution for token interoperability across multiple blockchains. Whether creating new tokens, transforming existing ones, or implementing custom functionality, Axelar's Interchain Token Service provides the tools needed for seamless cross-chain interactions.