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	0.04840USDT	-8.51%	22,113,730.95AXL	8,805	0.05290USDT	0.05550USDT
2	AXL-TRY AXLTRY	binance	AA	2.40TRY	-8.75%	8,858,731.53AXL	1,718	2.63TRY	2.74TRY
3	AXL-USDT AXL_USDT	whitebit	BB	0.04840USDT	-8.33%	7,303,197.97AXL	14,966	0.05280USDT	0.05560USDT
4	AXL-USDT AXLUSDT	bybit	A	0.04850USDT	-8.49%	4,880,919.52AXL	7,533	0.05300USDT	0.05550USDT
5	AXL-USD AXL-USD	coinbase	AA	0.04830USD	-8.52%	4,210,931.90AXL	1,187	0.05280USD	0.05530USD
6	AXL-USDT WAXLUSDT_SPBL	bitget	BB	0.04848USDT	-8.60%	796,565.37AXL	1,180	0.05304USDT	0.05535USDT
7	AXL-EUR AXL_EUR	whitebit	BB	0.04310EUR	-8.10%	616,681.02AXL	2,000	0.04690EUR	0.04960EUR
8	AXL-USD WAXLUSD	kraken	AA	0.04890USD	-7.74%	427,796.25AXL	149	0.05300USD	0.05570USD
9	AXL-USDT WAXL_USDT	gateio	A	0.04837USDT	-9.11%	118,590.00AXL	214	0.05322USDT	0.05532USDT
10	AXL-USD AXL_USD	cryptodotcom	AA	0.04832USD	-8.43%	98,294.90AXL	317	0.05277USD	0.05557USD
11	AXL-EUR WAXLEUR	kraken	AA	0.04370EUR	-7.81%	12,333.18AXL	15	0.04740EUR	0.04890EUR
12	AXL-USDT AXL_USDT	cryptodotcom	AA	0.04836USDT	-9.52%	6,204.30AXL	139	0.05345USDT	0.05550USDT
13	AXL-USDT waxlusdt	huobipro	C	0.04816USDT	-8.07%	44,209,380.51AXL	39,823	0.05239USDT	0.05517USDT
14	AXL-KRW KRW-AXL	upbit	B	64.60KRW	-8.76%	27,088,042.11AXL	3,045	70.80KRW	73.60KRW
15	AXL-USDT AXL_USDT	p2pb2b	D	0.04840USDT	-8.51%	9,608,745.35AXL	5,605	0.05290USDT	0.05550USDT
16	AXL-USDT axl_usdt	xtpub	-	0.04840USDT	-8.51%	5,529,546.86AXL	1,858	0.05290USDT	0.05550USDT
17	AXL-USDT AXLUSDT	bitrue	D	0.04850USDT	-8.14%	4,122,059.00AXL	3,888	0.05280USDT	0.05550USDT
18	AXL-USDT AXLUSDT	toobit	C	0.04850USDT	-8.49%	3,246,098.03AXL	6,000	0.05300USDT	0.05550USDT
19	AXL-KRW WAXL_KRW	bithumbkorea	-	64.77KRW	-8.44%	2,724,035.94AXL	706	70.74KRW	73.21KRW
20	AXL-USDT axl_usdt	digifinex	D	0.04840USDT	-8.68%	2,437,669.81AXL	2,506	0.05300USDT	0.05540USDT
21	AXL-USDT AXL_USDT	bitunix	C	0.04840USDT	-8.51%	2,208,214.21AXL	6,765	0.05290USDT	0.05540USDT
22	AXL-TRY AXLTRY	btcturk	E	2.40TRY	-8.53%	1,926,522.00AXL	442	2.63TRY	2.73TRY
23	AXL-USDT WAXLUSDT	mexc	C	0.04862USDT	-8.11%	1,088,025.63AXL	3,229	0.05291USDT	0.05540USDT
24	AXL-USDT WAXL-USDT	bingx	D	0.04856USDT	-8.57%	1,017,913.00AXL	6,302	0.05311USDT	0.05559USDT
25	AXL-USDT AXLUSDT	btcturk	E	0.04854USDT	-8.45%	328,367.50AXL	71	0.05302USDT	0.05521USDT
26	AXL-EUR AXL-EUR	bitvavo	B	0.04313EUR	-9.60%	291,826.08AXL	135	0.04771EUR	0.04918EUR
27	AXL-THB THB_AXL	bitkub	C	1.63THB	-9.22%	39,816.93AXL	28	1.80THB	1.80THB
28	AXL-USDT USDT-AXL	upbit	B	0.04900USDT	0.00%	0AXL	0	0.04900USDT	0.04900USDT
29	AXL-EUR WAXLEUR	bit2me	B	0.04370EUR	-7.61%	12,333.18AXL	15	0.04730EUR	0.04890EUR
30	AXL-IDR axlidr	indodax	E	882.00IDR	-5.97%	7,658.67AXL	46	938.00IDR	996.00IDR
31	AXL-KRW WAXL_KRW	coinone	C	65.90KRW	-3.94%	7,380.51AXL	20	68.60KRW	68.90KRW
32	AXL-BRL AXL-BRL	mercadobtc	C	0.2533BRL	-16.01%	1,574.69AXL	8	0.3016BRL	0.3016BRL
33	AXL-USDH AXLUSDH	hyperliquid	-	0.05784USDH	0.00%	0AXL	0	0.05784USDH	0.05784USDH
34	AXL-KRW waxl_krw	korbit	C	70.00KRW	-2.21%	142.86AXL	1	71.58KRW	71.58KRW
35	AXL-USDT AXLUSDT	binanceusa	B	0.05000USDT	-5.66%	28.00AXL	1	0.05300USDT	0.05300USDT
36	AXL-USDT AXLUSDT	hitbtc	E	0.04530USDT	0.00%	0AXL	0	0.04530USDT	0.04530USDT
37	AXL-BTC BTC-AXL	upbit	B	0.0₆6500BTC	0.00%	0AXL	0	0.0₆6500BTC	0.0₆6500BTC