Satellite is a decentralized cross-chain asset transfer application, which enables users to transfer assets they hold on a source chain to an address on a different destination chain.
Upon launch, Satellite will support the transfer of native Terra assets such as LUNA and UST between several EVM and non-EVM chains such as Terra, Avalanche, Polygon, Ethereum and Fantom, with Moonbeam added shortly thereafter. Multiple networks and assets will be added in the coming weeks and months.
Satellite is the first app to demonstrate that Axelar connects all Cosmos chains via IBC and its GCP protocol with multiple ecosystems. Axelar serves as the translation layer that allows Cosmos assets to flow freely to all Axelar-interconnected networks and back. Axelar supports routing, finalizing and executing transactions in different “languages”.
Official Tutorial Post