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Satellite (Axelar)
About
Satellite is a token bridge powered by Axelar network. It allows for cross-chain transfers of assets between Ethereum and other chains, typically to/from Cosmos ecosystem. Axelar is used as both escrow and message relayer.
About
Satellite is a token bridge powered by Axelar network. It allows for cross-chain transfers of assets between Ethereum and other chains, typically to/from Cosmos ecosystem. Axelar is used as both escrow and message relayer.
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Choose token
![](https://assets.coingecko.com/coins/images/6319/large/usdc.png?1696506694)
![](https://assets.coingecko.com/coins/images/2518/large/weth.png?1696503332)
![](https://assets.coingecko.com/coins/images/7598/large/wrapped_bitcoin_wbtc.png?1696507857)
![](https://assets.coingecko.com/coins/images/325/large/Tether.png?1696501661)
![](https://assets.coingecko.com/coins/images/9956/large/Badge_Dai.png?1696509996)
![](https://assets.coingecko.com/coins/images/13422/large/FRAX_icon.png?1696513182)
![](https://assets.coingecko.com/coins/images/877/large/chainlink-new-logo.png?1696502009)
![](https://assets.coingecko.com/coins/images/1364/large/Mark_Maker.png?1585191826)
![](https://assets.coingecko.com/coins/images/12504/large/uni.jpg?1696512319)
Funds can be stolen if
- validators decide to mint more tokens than there are locked on Ethereum thus preventing some existing holders from being able to bring their funds back to Ethereum (CRITICAL),
- validators relay a withdraw request that wasn't originated on the source chain (CRITICAL),
- destination token contract is maliciously upgraded (CRITICAL).
Users can be censored if
Validators running PoS consensus
Transfers are verified by the Validators running the Axelar network which, technically is a Cosmos chain. As in any standard Cosmos chain, Validators are bonded by staking tokens and can be slashed for misbehavior.
Users can be censored if validators on Axelar decide to not mint tokens after observing an event on Ethereum (CRITICAL).
Funds can be stolen if validators decide to mint more tokens than there are locked on Ethereum thus preventing some existing holders from being able to bring their funds back to Ethereum (CRITICAL).
Funds can be stolen if validators relay a withdraw request that wasn't originated on the source chain (CRITICAL).
Destination tokens are upgradeable
Tokens transferred end up as wrapped ERC20 proxies (axlTokens), some of them may be upgradable. The contract is typically BurnableMintableCappedERC20.
Funds can be stolen if destination token contract is maliciously upgraded (CRITICAL).
The system uses the following set of permissioned addresses:
Members of the Multisig that can set mint limits.
Axelar operators are a list of Axelar validators for the current epoch that can relay messages.
Can set arbitrary addresses as AxelarGasService admins, who can in turn modify the gas price for all chains. Is also the upgradeability admin of AxelarGasService and can withdraw accumulated fees.
![A diagram of the smart contract architecture](/images/architecture/satellite.png)
The system consists of the following smart contracts on the host chain (Ethereum):
Main Gateway contract acting also as an escrow for bridged tokens. This contract stores the following tokens: USDC, WBTC, WETH, USDT, DAI, LINK, FRAX, MKR, UNI.
Governance contract that executes on-chain governance proposals from Axelar network. It is authorised to upgrade Axelar Gateway.
Admin Multisig setting mint limits. Acts as a 3-of-6 multisig.
Allows users to pay for native gas at the destination with tokens or ETH. It also manages refunds.
Upgrade delay: none