What Is Axelar (AXL)?

What Is Axelar (AXL)?

Axelar (AXL) is a cross-chain communication protocol engineered to seamlessly connect diverse blockchain networks, fostering a new era of decentralized innovation. Its native token is AXL.

What is Axelar?

Axelar, a relatively new entrant to the crypto scene, facilitates seamless communication and value transfer between different blockchain networks. Its core utility lies in its ability to bridge the gap between disparate blockchain ecosystems. This enables users to transfer assets, execute smart contracts, and interact with decentralized applications (DApps) across multiple blockchains without the need for complex and time-consuming manual processes. 

Who Created Axelar?

The Axelar project was co-founded by Sergey Gorbunov and Anatoly Yakovenko, two prominent figures in the blockchain industry. Sergey Gorbunov is renowned for his contributions to cryptography and decentralized systems, while Anatoly Yakovenko brings extensive experience as the co-founder of Solana, a high-performance blockchain platform. Together, they formed Axelar with the vision of creating a seamless bridge connecting various blockchain networks.

Why Trade Axelar?

Interoperability at Its Core: Axelar’s primary mission is to enhance interoperability between blockchains. It acts as a bridge that enables assets and data to move seamlessly across different blockchains. This interoperability is a game-changer for the cryptocurrency space, as it opens up new avenues for cross-chain DeFi, NFTs, and more.

Scalability and Speed: Axelar is built on cutting-edge technology that emphasizes scalability and speed. The network employs innovative solutions to ensure that transactions are processed swiftly and efficiently. This not only benefits traders but also provides a robust infrastructure for developers and businesses seeking reliable blockchain interactions. The platform’s commitment to high performance is a key factor in its growing popularity.

Access to Multiple Blockchains: By trading AXL, you gain access to a wide range of blockchain networks and ecosystems. This comprehensive integration of multiple blockchains allows users to diversify their holdings and investment strategies. Whether you’re interested in participating in the vibrant DeFi ecosystem of Ethereum, exploring the NFT opportunities on Binance Smart Chain, or engaging with unique projects on Polkadot, Axelar provides seamless access to these diverse blockchain networks.

Cross-Chain DeFi: One of Axelar’s standout features is its unique capability to enable cross-chain DeFi. This means that users can utilize assets from one blockchain to actively participate in DeFi activities on another. This opens up a world of possibilities, such as using Bitcoin to provide liquidity on the Ethereum network or lending assets from a less-known blockchain to access high-yield opportunities on a major DeFi platform. Axelar’s cross-chain functionality empowers users to maximize their DeFi strategies while reducing friction between different blockchain ecosystems.

Token Utility: AXL serves as the native utility token of the Axelar network, and its utility extends far beyond a mere trading asset. Holders of AXL can actively participate in the platform’s governance processes, influencing key decisions that shape the network’s future direction. Furthermore, AXL is integral for transaction fees and various ecosystem-related activities, creating a thriving internal economy. This intrinsic value makes AXL not only a valuable asset within the Axelar ecosystem but also a dynamic instrument for community engagement and network growth.

Axelar’s Vision for the Future

Axelar’s ambitions extend far beyond its current capabilities. The project envisions a future where blockchain networks seamlessly interoperate on a global scale, revolutionizing how data, value, and applications flow across these decentralized ecosystems. By removing the traditional silos that have hindered innovation, Axelar aims to foster an environment where developers can create cross-chain DApps with ease, businesses can seamlessly integrate blockchain technology into their operations, and users can navigate the crypto space without barriers.

The potential applications of Axelar’s technology are vast. It could enable supply chain tracking that spans multiple blockchains, making provenance and transparency a reality across industries. It could empower global financial systems to be more efficient and inclusive by connecting disparate financial institutions. Axelar also has the potential to bring about new forms of decentralized governance, where communities can interact and make decisions across chains, transcending geographical boundaries.

Axelar Community and Ecosystem Growth

Axelar has been gaining traction not only for its technological prowess but also for its commitment to fostering a vibrant community and ecosystem. Its governance model, powered by the AXL token, allows users and stakeholders to actively participate in shaping the project’s future. Through proposals and voting, the community has a direct say in the direction of Axelar’s development, making it a truly decentralized and community-driven endeavour.

Moreover, Axelar is actively collaborating with other blockchain projects to expand its reach and utility. These partnerships not only strengthen Axelar’s position in the market but also contribute to the broader blockchain industry’s growth. As it continues to integrate with more blockchain networks, Axelar’s ecosystem becomes increasingly interconnected, offering users even more options and opportunities.

Interoperability in Blockchain 

The blockchain space is constantly evolving, with new projects and ecosystems emerging regularly. In this dynamic environment, interoperability is not just a nice-to-have feature but a critical necessity. Axelar’s role in bridging these ecosystems is pivotal to the maturation of the entire blockchain industry. It reduces friction, fosters innovation, and empowers users with newfound flexibility and accessibility.

Axelar represents a significant step forward in the blockchain industry’s quest for seamless connectivity. As Axelar continues to expand its capabilities and partnerships, it holds the promise of shaping a more interconnected, efficient, and inclusive decentralized future for us all.

Price of Axelar 

AXL is currently trading at $0.3513 at the time of this article. Its market capitalization has also experienced substantial growth, now standing at $139,010,610, cementing its position as a rising player in the digital asset landscape. Investors and enthusiasts alike are closely monitoring these developments, as AXL continues to redefine the possibilities of decentralized finance.

How to Start Trading Axelar?

Flipster is the first cryptocurrency exchange to list Axelar globally. 

To trade Axelar (AXL) on Flipster:

  1. Download the Flipster app and complete the account set-up process
  2. Go to [Trade]
  3. Click on [Search] at the top of the page and type in AXL
  4. Click on AXL
  5. In the [Amount] field, type in the amount of AXL you wish to buy or sell. Alternatively, you can select the percentages below to choose how much of your available cash you want to use for your order
  6. Click [Preview order] 
  7. Once you have confirmed the details, click on [Buy AXL – Long] button to open a long position or [Sell AXL- Short] if you are opening a short position. 

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Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.