Axelar executes an InterchainTokenService contract migration

What happened

Axelar governance passed and executed proposal 470, migrating the identified InterchainTokenService contract to code ID 63.

What changed

The on-chain InterchainTokenService contract implementation changed to code ID 63 under the governance-administered migration path.

What did not change

The record did not establish a change to validator consensus, gateway thresholds, custody of existing tokens, or token-service economics, and it did not characterize the code-level behavior changed by code ID 63.

Confirmed

• Proposal 470 reached passed status on May 15, 2026.
• The proposal contained one MsgMigrateContract action.
• The target contract was migrated to code ID 63.
• Live contract information reports code ID 63 for the proposal's target.

Still open

• The complete code diff and security rationale for code ID 63.
• Audit coverage and pre-deployment testing for the new implementation.
• Whether supported token integrations required user or issuer action.
• Post-migration operating results and any incidents or compatibility problems.

What it means for an advisor

• Review Axelar's InterchainTokenService implementation and audit evidence before relying on an affected token route.
• Verify the deployed contract and integration-specific configuration for any contemplated exposure.
• The migration is operative but is not evidence that Axelar became safer or that any new route is approved.