2024-01-01
Axelar is a blockchain network that
connect other blockchains. Users can connect different blockchains both layer 1
and layer 2 using Axelar.
Axelar
built from Cosmos SDK and powered by Tendermint. However, Axelar can connect
beyond Cosmos ecosystem (Cosmos: The Inter-Blockchain Communication Protocol).
Axelar can connect Ethereum, Arbitrum, Optimism, Polygon, NEAR, etc.
Axelar
currently supports 55 blockchains such as Ethereum, Avalanche, Base, BNB Chain, Linea,
Cosmos, Sei, Optimism, Arbitrum, Celestia, Fantom, Kava, Stellar, NEAR, zkSync,
StarkNet and Moonbeam.
It
will support Sui and Aptos in the future.
Axelar
is a full stack interoperability that allow users to send information cross-chain
and connect blockchains that built from different programming languages. It can
connect EVM chains to non-EVM chains.
Axelar
network implements battle-tested proof-of-stake consensus. Validators produce
new blocks and participate in multiparty signing. Token holders can delegate
their tokens to validator staking pools.
Average
block time of Axelar network is about 6 seconds.
Axelar Virtual Machine
Axelar
Virtual Machine allows developers to build dApps on Axelar blockchain.
Developers can build dApps using EVM, Cosmos, ZK proofs or other programming
languages.
AXL
is the native token of the Axelar network. AXL token uses for paying
transaction fees when users use cross-chain interoperability on Axelar network.
AXL
token is inflationary. Its inflation comes from token rewards that pay to
validators. According to axelarscan current
inflation rate of AXL token is 6.1% and staking APR is 8.44%.
AXL
can also a governance token use for governance voting.
AXL
token distribution
Company: 29.5%.
– Core team: 17%.
– Company operations: 12.5%.
Backers: 29.54%
– Seed: 13.4%.
– Series A: 12.64%.
– Series B: 3.5%.
Community sale: 5%.
Community programs (incl. insurance fund): 35.96%.
Axelar’s competitors
Chainlink, Wormhole, and LayerZero are Axelar’s competitors.
Axelar
mostly support EVM chains and Cosmos ecosystem. AXL has strong token utility
because it uses for gas fees.
