Axelar, the decentralized superhighway providing secure universal cross-chain connections, keeps on winning with the decentralized web. Georgios Vlachos and Sergey Gorbunov co-founded Axelar in 2020. The platform provides a multi-chain decentralized network and an interoperability hub that brings together different parallel blockchain ecosystems. The platform’s native token, AXL, is ranked #140 on CoinMarketCap at the time of writing.
Axelar addresses the difficult problem of interoperability between disparate blockchains. This gives users the ability to easily interact with any dApp, regardless of what network they use. The protocol suite, tools, and APIs provided by Axelar – their name translates from Greek as “without borders” – are intended to lower the barrier to building cross-chain applications.
The platform allows users to move native tokens between any of the supported blockchains. It does this by using wrapped ERC-20 versions, greatly increasing liquidity and accessibility. Axelar's architecture comprises three core components: a decentralized network, a software development kit (SDK), and gateway smart contracts. These complex components integrated with one another to provide secure and reliable cross-chain transactions.
The current Axelar price is $0.321854 USD, with a 24-hour trading volume of $1,962,992 USD. Showcasing strong market activity, Axelar has a total trading volume of $6,981,949 USD in the last 24 hours. The live Axelar Network market cap is $303,750,770 USD, ranking it 1498 in cryptocurrency exchanges, with a circulating supply of 943,754,347 AXL coins. When we wrote this, the circulating supply of AXL was 301,937,372 per CoinGecko, CoinMarketCap, and several other sources. So keep this figure in mind—4 to 17 times! The circulating supply of Axelar is 394,743,391 AXL tokens, and the maximum supply of Axelar is 1,070,075,609 AXL tokens.
The distribution of AXL tokens is allocated as follows: 29.5% to backers, 17% to the team, 12.5% for company operations, 5% for the community sale, and 36% for community programs. Through this distribution strategy, we hope to foster long-term growth and development of the Axelar ecosystem.
"Our value proposition to the developer is that they can build on the chain that best suits their use case and background, while letting their users access anything on the decentralized web, with one click,” - Georgios Vlachos
In December 2022, Axelar announced a $60 million developer startup funding program to attract developers and projects building on its platform. This strategic move highlights Axelar’s dedication to promoting innovation and growing its ecosystem.
“nurture a pipeline of developers building Web3 products that are better than anything on the centralized web.” - Georgios Vlachos
