Axelar

Halal Rating :
Comfortable
Contract: 0x467719aD09025FcC6cF6F8311755809d45a5E5f3
Last Price $0.39 Last updated:
Rank 138
1D Change -3.20 %
Market Cap $369.66m
Circulating supply 958,939,660
Maximum supply None

Crypto Overview

Categories
  • Interoperability
  • Ethereum Ecosystem
  • Coinbase Ventures Portfolio
  • Polychain Capital Portfolio
  • Binance Labs Portfolio
  • Galaxy Digital Portfolio
  • Polygon Ecosystem
  • Fantom Ecosystem
  • Optimism Ecosystem
  • Osmosis Ecosystem
  • Real World Assets
  • Base Ecosystem
  • Linea Ecosystem
  • Sei Ecosystem
  • Mantle Ecosystem
  • Scroll Ecosystem

Purpose and Utility

Axelar is a blockchain interoperability protocol that enables secure cross-chain communication. The AXL token serves multiple purposes within the Axelar ecosystem: it's used for securing the network through proof-of-stake validation, governance voting on protocol decisions, and paying for network fees.

Business Model and Operations

The platform operates by providing infrastructure for cross-chain communication and value transfer between different blockchain networks. Validators stake AXL tokens to participate in securing the network and earn rewards for their service. The business model is transparent and focuses on providing genuine technological utility in the blockchain space.

Real-World Adoption

Axelar has established partnerships with major blockchain platforms including Polygon, Avalanche, and Cosmos. The network currently secures billions in cross-chain value transfer. The protocol is actively used by various DeFi applications for cross-chain operations.

Development Activity

The project maintains strong development activity with regular updates to its core protocol. The development team consistently releases new features and improvements, indicating genuine effort to build and maintain the technology.

Token Distribution

The token distribution includes allocations for ecosystem development, team members, and early backers with appropriate vesting periods. While there is a significant allocation to the team and early investors, the vesting schedules are designed to align long-term incentives.

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