Homepage:
https://axelar.network/
| https://satellite.money/
| https://github.com/axelarnetwork/audits
Twitter: axelarnetwork
Telegram: axelarcommunity
Reddit: axelar
Axelar (AXL) Price
AXL
$0.678046
Market cap
496,453,646.0
Total volume
9,046,776
Circulating supply
732,444,000
Total supply
1,159,845,499
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.
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