Axelar is a proof-of-stake decentralized network that provides secure, universal cross-chain communication. At the time of writing, it sits at #140 on CoinMarketCap, with a strong $303,750,770 USD live market cap. The network empowers developers to build decentralized applications (dApps) with seamless cross-chain functionality through its suite of protocols, tools, and APIs. Axelar’s native token, AXL, is already riding this momentum upwards, up 1.38% in the past day, 14.45% over the past week.
Axelar distinguishes itself through three core components. This proposed system would run on a completely new, decentralized network. It encompasses a software development kit (SDK) that features protocols, APIs, and gateway smart contracts to facilitate cross-chain connectivity. These components combine to enable smooth, cross-chain transfer of native tokens. You can transfer tokens such as AVAX (Avalanche), ETH (Ethereum), FTM (Fantom), GLMR (Moonbeam), and MATIC (Polygon) using their respective wrapped ERC-20 versions.
The live Axelar price today is $0.321854 USD with a 24-hour trading volume of $6,981,949 USD. Its current circulating supply is 301,937,372 AXL out of a max (and total) supply of 1,070,075,609 AXL tokens. AXL tokens have been available on trading venues such as Coinbase, Kraken, Uniswap v3, Huobi and KuCoin.
So Axelar’s architecture is based on a permissionless, secure, dynamic validator set that maintains the integrity of cross-chain communication. Through interconnectivity, the network enables developers to create on the blockchain they prefer. In doing so, it brings users one-click closer to the decentralized web.
Our value proposition to the developer is that they can build on the chain that best suits their use case and background, while letting their users access anything on the decentralized web, with one click. - Georgios Vlachos
In December 2022, Axelar announced a $60 million Ecosystem Startup Funding Program. This new initiative is intended to supercharge the development of cypherpunk dApps and protocols that are capable of replacing centralized exchanges (CEXs).
nurture a pipeline of developers building Web3 products that are better than anything on the centralized web. - Georgios Vlachos
Axelar has garnered substantial financial backing from prominent investors, including Binance, Coinbase Ventures, Dragonfly Capital, and Polychain Capital, signaling strong confidence in the project's vision and potential.
