The team behind Axelar Network and its proprietary intellectual property rights have been acquired, according to the recent announcement. This purchase by Circle, the company behind USDC, the second largest stablecoin, is not a common thing in cryptocurrencies.
AXS Coin Rise
After the announcement AXS Coin It’s up 9%, but Axelar Network, Foundation and AXL will continue to be community driven. Interop Labs was the founder of this initiative, but they are now leaving Axelar Network. So who replaces them? With the completion of the agreement, Common Prefix will replace the old team and this team is very experienced. Previously Bitcoin 
$86,132.91,Sui, XRP Ledger and Zano have made significant contributions to a number of cryptocurrencies.
Nikolaos Kamarinakis, CTO of Common Prefix, said;
“This is the beginning of a new development phase for the Axelar project, with which we have worked closely for a long time. Interoperability is a critical element of onchain funding and must therefore be supported by open source developer communities like Axelar.”
Georgios Vlachos, co-founder of Axelar and director of the Axelar Foundation, is also pleased with the situation.
“Interop Labs has made tremendous contributions to Axelar Network and Circle’s team and the process of acquiring proprietary intellectual property confirms Axelar’s leadership in interoperability technology. Axelar is where it needs to be: open source, composable, and custody-free — features that make it a critical infrastructure for teams from DeFi to Enterprise Onchain Finance. “As the Foundation, we congratulate the Interop Labs team and look forward to moving to the next level with Common Prefix and the entire Axelar developer ecosystem.”
