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Wrapped Axelar
$0.3490
3.81%
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Wrapped Axelar Information
Wrapped Axelar Supported Platforms
| AXL | ERC20 | ETH | 0x467719ad09025fcc6cf6f8311755809d45a5e5f3 | 2022-08-29 |
About Wrapped Axelar
Wrapped Axelar (WAXL) is a token that represents AXL, the native token of the Axelar network, which is an interoperability solution for cross-chain communication. WAXL was created by the Axelar team, who have worked on various blockchain projects. WAXL is used for governance, staking, transferring value, and accessing cross-chain services on the Axelar network.
Wrapped Axelar (WAXL) is an ERC-20 token on the Ethereum blockchain that represents AXL, the native token of the Axelar network. Axelar is an interoperability solution that provides the infrastructure needed for seamless and secure cross-chain communication among decentralized applications. WAXL tokens can be bridged to Axelar, where they can be staked to secure the network.
Wrapped Axelar (WAXL) was created by the Axelar team, a group of experienced researchers and engineers who have worked on various projects in the blockchain space, such as Algorand, Cosmos, and Tezos. The Axelar team is led by Sergey Gorbunov, a co-founder and chief scientist of Algorand, and Georgios Vlachos, a former researcher at Algorand and the MIT Computer Science and Artificial Intelligence Laboratory.
$WAXL is used for several purposes, such as:
Participating in the Axelar network governance, where $WAXL holders can vote on proposals and parameters that affect the network. Staking on the Axelar network, where $WAXL holders can delegate their tokens to validators who secure the network and earn rewards. Transferring value across different blockchains, where $WAXL can be converted to AXL and vice versa through the Axelar Gateways. Accessing cross-chain services and applications, where $WAXL can be used as a payment or utility token for various dApps that leverage the Axelar network.