About Axelar

Axelar is a blockchain infrastructure designed to facilitate secure communication between different blockchain networks, enabling decentralized applications (dApps) to interact seamlessly with various assets and applications across multiple chains. By utilizing a proof-of-stake consensus mechanism, Axelar ensures the integrity and security of its interchain communications. Developers can leverage a straightforward API that operates on a permissionless network, allowing for efficient message routing and enhanced network security. This architecture positions Axelar as a pivotal player in the evolution of Web3, akin to the role of payment processors in traditional finance. The AXL token serves multiple functions within the Axelar ecosystem, including governance participation and payment of transaction fees to validators and token holders. Users engaging with the Axelar network are not required to hold AXL tokens directly, as the system manages conversions between AXL and destination-chain tokens automatically. This streamlined approach allows users to transact with minimal friction, only incurring gas fees in their source-chain tokens. While the rewards distributed within the Axelar network are inflationary, there exists a mechanism that could lead to a deflationary supply based on transaction fee dynamics, further enhancing the token's utility and value proposition.