​Axelar enables Sommelier DeFi vaults to connect to Arbitrum | Crypto Sale

​Axelar enables Sommelier DeFi vaults to connect to Arbitrum

Interoperability protocol Axelar has enabled Sommelier, a yield optimization protocol on Cosmos, to become a cross-chain application by connecting it with Ethereum Layer 2 network Arbitrum One.

Sommelier's DeFi vaults automatically rotate capital across different assets and let users optimize yields on their crypto assets through lending and trading services. These DeFi vaults operate on Sommelier's own blockchain in the Cosmos ecosystem and Ethereum, and now they will be available on Arbitrum, a Layer 2 blockchain developed by Offchain Labs.

"At Offchain Labs, we are delighted to welcome high-caliber protocols such as Sommelier who focus on finding innovative ways to improve capital efficiency in DeFi on Arbitrum One," said Peter Haymond, senior partnership manager at Offchain Labs.