The information about the Axelar (AXL) token is compiled from various posts on X and web sources. AXL is the native token of the Axelar network, launched as an ERC-20 token on the Ethereum blockchain. The Axelar network is a decentralized interoperability platform designed to connect multiple blockchain ecosystems, enabling secure cross-chain communication and asset transfers. Unlike traditional cross-chain bridges, Axelar provides a programmable interchain layer that supports General Message Passing (GMP), allowing developers to build decentralized applications (dApps) that can interact with any asset or application across different blockchains with a single click. This functionality is powered by a proof-of-stake (PoS) consensus mechanism, where AXL plays a central role.

The token serves multiple purposes within the Axelar ecosystem. It is used for staking, where token holders delegate AXL to validators to secure the network and earn rewards, contributing to the platform’s decentralization and security. AXL also functions as a governance token, enabling holders to vote on proposals such as protocol upgrades or parameter changes. Additionally, it is utilized to pay transaction fees within the network, though users do not need to hold AXL themselves—smart contracts handle conversions from source-chain tokens on the backend, simplifying the user experience. The total supply of AXL is set at approximately 1.19 billion tokens, with a portion allocated to community programs, validators, and the founding team, though specific distribution details emphasize a wide dispersal to encourage participation.

Axelar’s architecture operates on a hub-and-spoke model, with the network acting as a central hub connecting various blockchains (spokes), including Ethereum, Cosmos, and over 70 others like Solana and TON. This design enhances scalability and security by isolating issues on individual chains without affecting the broader network. The platform supports wrapped ERC-20 versions of native tokens from other chains, such as AVAX (Avalanche), ETH (Ethereum), and MATIC (Polygon), facilitating seamless cross-chain transfers. Founded in 2020 by Georgios Vlachos and Sergey Gorbunov, both formerly of Algorand, Axelar has attracted backing from prominent investors like Binance, Coinbase Ventures, and Polychain Capital. The network also offers developer tools, such as APIs and the Axelar SDK, to simplify building interoperable dApps, positioning it as a key infrastructure layer for Web3. Posts on X highlight its permissionless interoperability and sustainable tokenomics, including a fee-burning mechanism to manage supply over time.