Homepage:
https://axelar.network/
| https://satellite.money/
| https://github.com/axelarnetwork/audits
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Axelar (AXL) Price
AXL
$0.412061
Market cap
381,038,991.0
Total volume
13,444,116
Circulating supply
925,261,787
Total supply
1,192,739,586
Functioning as a bridge between diverse blockchains, Axelar ensures secure interconnectivity through its proof-of-stake consensus framework. Network validators are responsible for generating new blocks, partaking in multiparty signings, and validating the states of external chains. By staking AXL tokens, token holders can assign their tokens to a validator’s staking pool, earning rewards, after the deduction of the validator’s fees.
The utility of the AXL token spans governance roles and covering network transaction fees, payable to both validators and token owners. Importantly, it's not mandatory for Axelar network users to possess the token directly. The network facilitates conversions between AXL tokens and those of destination chains behind the scenes, allowing users to incur only a single gas fee, paid in the token of the originating chain.
While the reward structure of the Axelar network is inherently inflationary — leading to an increase in the total supply of AXL tokens — the designed transaction fee mechanism holds the promise of transitioning the supply towards a deflationary model.
Last news
10/14/2024
09/24/2024
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09/23/2024