Question 1

What is Axelar (AXL)?

Accepted Answer

Axelar is a decentralised network designed to enable seamless cross-chain communication among heterogeneous blockchain ecosystems. It provides a universal infrastructure layer consisting of a decentralised validator network, a protocol suite, and developer-facing APIs. This infrastructure facilitates secure and scalable interoperability between blockchains that operate independently and use different consensus models or languages.

The Axelar network is structured around two key protocols:

- **Cross-Chain Gateway Protocol (CGP):** Functions similarly to Internet routing protocols, allowing blockchain platforms to connect without needing to customise their code or communication standards.
- **Cross-Chain Transfer Protocol (CTP):** A higher-level protocol for application developers to facilitate operations such as asset transfers, cross-chain calls, and composability between decentralised applications.

These protocols are secured by a Delegated Proof-of-Stake (DPoS) blockchain. Validators, elected by token holders, run light clients of external chains, collectively maintain threshold cryptographic keys, and sign cross-chain transactions. This setup enables Axelar to act as a decentralised, programmable cross-chain oracle with both read and write capabilities.

The core goal of Axelar is to simplify interoperability for blockchain developers and users, allowing applications to operate across chains without needing to implement and maintain custom bridges.

Question 2

What is AXL token used for?

Accepted Answer

AXL is the native utility and governance token of the Axelar network. It serves several critical functions within the system:

1. **Validator Staking and Delegation:** AXL is used within a Delegated Proof-of-Stake model. Validators must stake AXL to participate in consensus, and token holders can delegate their AXL to validators to share in rewards and governance influence. Validator performance and security are incentivised through staking rewards and slashing mechanisms.

2. **Transaction Fees:** AXL is used to pay for operations on the network. This includes transaction fees for processing cross-chain requests and maintaining bridges between chains. These fees contribute to validator rewards and help secure the network.

3. **Governance:** AXL token holders participate in governance decisions regarding the Axelar network. This includes voting on proposals to add or remove supported blockchains, adjust economic parameters, or enact changes to the network's protocol.

4. **Security via Threshold Cryptography:** Validators jointly control threshold accounts on various chains. The integrity and security of cross-chain transactions depend on validator cooperation, which is directly tied to the value they stake in AXL. A high threshold (e.g. 90%) is required to authorise transactions, maximising safety.

5. **Emergency Recovery Mechanism:** AXL is involved in governance-controlled recovery processes in case of a network stall. Emergency unlock keys may be shared with governance-selected community stakeholders, providing an additional layer of decentralised control.

Question 3

Who created Axelar (AXL)?

Accepted Answer

Axelar was founded by **Sergey Gorbunov** and **Georgios Vlachos**, both of whom have strong academic and technical backgrounds in cryptography and distributed systems. Sergey Gorbunov holds a PhD in cryptography from MIT and has worked on threshold cryptography and privacy-enhancing technologies. The team includes researchers and engineers with experience from companies such as Algorand, MIT, and other blockchain infrastructure projects.

The project was first introduced via a whitepaper published in January 2021. Axelar has received backing from prominent investors in the blockchain industry and operates as an open-source, decentralised protocol that welcomes developer participation and validator onboarding.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	AXL-USDT AXLUSDT	binance	AA	0.04830USDT	9.03%	9,250,480.51AXL	6,145	0.04430USDT	0.04830USDT
2	AXL-USDT AXLUSDT	bybit	A	0.04830USDT	8.93%	6,045,056.51AXL	7,205	0.04434USDT	0.04837USDT
3	AXL-USDT AXL_USDT	whitebit	BB	0.04840USDT	9.01%	3,011,144.07AXL	8,749	0.04440USDT	0.04850USDT
4	AXL-TRY AXLTRY	binance	AA	2.32TRY	7.41%	3,022,844.94AXL	647	2.16TRY	2.33TRY
5	AXL-USD AXL-USD	coinbase	AA	0.04820USD	8.80%	1,753,883.30AXL	932	0.04430USD	0.04840USD
6	AXL-USDT WAXLUSDT_SPBL	bitget	BB	0.04815USDT	8.52%	1,093,242.25AXL	1,070	0.04437USDT	0.04830USDT
7	AXL-EUR AXL_EUR	whitebit	BB	0.04200EUR	8.25%	140,092.16AXL	511	0.03880EUR	0.04230EUR
8	AXL-USD WAXLUSD	kraken	AA	0.04840USD	8.76%	134,672.12AXL	106	0.04450USD	0.04840USD
9	AXL-USDT WAXL_USDT	gateio	A	0.04829USDT	8.59%	137,258.00AXL	263	0.04447USDT	0.04851USDT
10	AXL-USD AXL_USD	cryptodotcom	AA	0.04850USD	8.57%	121,600.90AXL	171	0.04467USD	0.04850USD
11	AXL-USDT WAXL-USDT	kucoin	BB	0.04820USDT	9.05%	107,260.15AXL	125	0.04420USDT	0.04820USDT
12	AXL-EUR WAXLEUR	kraken	AA	0.04009EUR	3.62%	22,346.97AXL	7	0.03870EUR	0.04009EUR
13	AXL-USDT AXL_USDT	cryptodotcom	AA	0.04697USDT	5.93%	28.40AXL	1	0.04434USDT	0.04697USDT
14	AXL-USDT waxlusdt	huobipro	C	0.04796USDT	8.85%	31,303,038.42AXL	24,526	0.04406USDT	0.05030USDT
15	AXL-KRW KRW-AXL	upbit	B	66.00KRW	8.02%	10,757,227.88AXL	1,667	61.10KRW	66.00KRW
16	AXL-USDT AXL_USDT	p2pb2b	D	0.04830USDT	9.03%	6,270,412.27AXL	5,048	0.04430USDT	0.04830USDT
17	AXL-USDT axl_usdt	xtpub	-	0.04830USDT	9.03%	4,621,346.44AXL	2,528	0.04430USDT	0.04830USDT
18	AXL-TRY AXLTRY	btcturk	E	2.33TRY	8.28%	2,205,671.70AXL	339	2.15TRY	2.33TRY
19	AXL-USDT AXLUSDT	toobit	C	0.04820USDT	8.80%	2,062,097.98AXL	5,237	0.04430USDT	0.04840USDT
20	AXL-USDT AXL_USDT	bitunix	C	0.04820USDT	8.80%	2,020,786.59AXL	6,458	0.04430USDT	0.04830USDT
21	AXL-USDT AXLUSDT	bitrue	D	0.04840USDT	9.01%	1,783,305.00AXL	1,978	0.04440USDT	0.04850USDT
22	AXL-KRW WAXL_KRW	bithumbkorea	-	65.31KRW	7.88%	1,547,282.51AXL	376	60.54KRW	65.45KRW
23	AXL-USDT WAXL-USDT	bingx	D	0.04829USDT	9.08%	1,169,665.00AXL	6,459	0.04427USDT	0.04860USDT
24	AXL-USDT axl_usdt	digifinex	D	0.04820USDT	8.80%	1,041,277.65AXL	1,819	0.04430USDT	0.04840USDT
25	AXL-EUR AXL-EUR	bitvavo	B	0.04174EUR	7.89%	700,029.75AXL	126	0.03868EUR	0.04174EUR
26	AXL-USDT AXLUSDT	btcturk	E	0.04826USDT	8.99%	539,570.30AXL	127	0.04428USDT	0.04834USDT
27	AXL-USDT WAXLUSDT	mexc	C	0.04799USDT	8.23%	73,746.38AXL	111	0.04434USDT	0.04799USDT
28	AXL-EUR WAXLEUR	bit2me	B	0.04009EUR	3.62%	22,346.97AXL	7	0.03870EUR	0.04009EUR
29	AXL-INR WAXLINR	coindcx	-	4.73INR	9.70%	21,051.70AXL	20	4.31INR	4.75INR
30	AXL-THB THB_AXL	bitkub	C	1.56THB	10.45%	19,251.69AXL	15	1.41THB	1.57THB
31	AXL-IDR axlidr	indodax	E	840.00IDR	8.39%	18,288.75AXL	45	775.00IDR	845.00IDR
32	AXL-USDT WAXLUSDT	coinex	C	0.04803USDT	8.55%	15,338.14AXL	1,492	0.04424USDT	0.04803USDT
33	AXL-USDT AXLUSDT	binanceusa	B	0.04500USDT	0.00%	0AXL	0	0.04500USDT	0.04500USDT
34	AXL-KRW waxl_krw	korbit	C	59.98KRW	0.00%	0AXL	0	59.98KRW	59.98KRW
35	AXL-KRW WAXL_KRW	coinone	C	60.80KRW	0.00%	0AXL	0	60.80KRW	60.80KRW
36	AXL-BRL AXL-BRL	mercadobtc	C	0.2400BRL	0.02%	1,020.56AXL	4	0.2399BRL	0.2400BRL
37	AXL-USDH AXLUSDH	hyperliquid	-	0.05784USDH	0.00%	0AXL	0	0.05784USDH	0.05784USDH
38	AXL-BTC BTC-AXL	upbit	B	0.0₆5600BTC	-1.75%	113.25AXL	1	0.0₆5700BTC	0.0₆5700BTC
39	AXL-USDT USDT-AXL	upbit	B	0.04548USDT	0.00%	0AXL	0	0.04548USDT	0.04548USDT
40	AXL-USDT AXLUSDT	hitbtc	E	0.04530USDT	0.00%	0AXL	0	0.04530USDT	0.04530USDT