Axelar enables secure cross-chain communication and interoperability between different blockchain ecosystems, applications, assets, and users. The protocol supports the cross-chain transfer of various native tokens, including Avalanche (AVAX), Ethereum (ETH), Fantom (FTM), Moonbeam (GLMR), and Polygon (MATIC), through their wrapped ERC-20 versions.
Axelar aims to address the security risks associated with interoperability between blockchain networks. The decentralized nature of the AXL token is a fundamental component of providing secure blockchain infrastructure and facilitating interoperability across different chains.
WAXL is the wrapped version of the AXL token represented on the Ethereum blockchain as an ERC-20 token. The AXL token serves as the native utility token within the Axelar network.
AXL plays a crucial role in providing decentralized security and governance for the network. Users contribute to the security of the ecosystem and participate in network governance decisions through the AXL crypto. Additionally, AXL token holders receive rewards and fees for their participation.
