Axelar network today achieves a milestone in its mission to deliver secure cross-chain communication: as the AXL token is released, the Axelar network becomes permissionless and the mainnet roll-out enters a new phase.
With AXL token release schedules beginning today, the Axelar network reaches a new level of decentralization, and establishes itself as the most secure and richly featured cross-chain network available.
Here’s what Axelar has been doing, leading up to this point:
180K+ unique addresses connected.
23+ chains connected.
250K+ cross-chain transactions processed.
96+ projects integrating.
The AXL token is the key to the proof-of-stake consensus that secures the Axelar network. More than this, AXL enables functionality that other cross-chain networks can’t duplicate – like instant, any-to-any routing and one-time deposit addresses that match onramps centralized exchanges use. These features are possible because Axelar is a blockchain connecting blockchains.Read more about the AXL token and its uses, here.
Axelar delivers secure cross-chain communication. That means dApp users can interact with any asset, any application, on any chain, with one click. You can think of it as Stripe for Web3.
Contribute to the security of the Axelar network: Stake AXL. Start by reading our staking guide, and then review the validators operating on Axelar at the Axelar block explorer, axelarscan.io/validators.
AXL has other uses, too: it is a chain-agnostic token. Built on Cosmos SDK, it is compatible with any IBC chain. And it can be easily wrapped as an ERC-20 compatible token (wAXL) for trading and other uses.
Read the full complement of tutorials on wrapping, unwrapping and LP’ing with AXL and wAXL.
Axelar Foundation has posted thorough and precise information on the token economics, fees and rewards established for the AXL token:
If you’re looking for more information about the AXL token, security on the Axelar network, or how to get started building cross-chain dApps and connecting new protocols, read our FAQs and join the conversation in our Discord with further questions.