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In this article, we will be taking a closer look at the Axelar (AXL) project in a detailed manner. The local cryptocurrency of the Axelar project, the AXL Coin, also operates as a token that can be transacted on the Axelar network and used for transferring operations.
What is Axelar (AXL)?
AXL is the native currency of the Axelar blockchain economy.Additionally the project provides a decentralized network and tools that help developers of decentralized applications to establish seamless inter-chain communication through protocol bundles, tools, and APIs.
Axelar consists of three core components – a decentralized network, also a software development kit for protocols and APIs, and a series of gateway smart contracts for inter-chain connectivity.
What are the fundamental features of Axelar?
NFT Marketplace:
Individuals can gain access to our AXL NFT platform. Also this provides an opportunity to create digital art and allows art lovers to create their NFTs from our platform.
Rewards:
AXL owners can stake their tokens in Staking Pools to receive rewards and transaction fees from others. Additionally staking indirectly serves to support the system
Decentralized Exchange
Borrow & Loan
AXL will establish a decentralized money market platform to connect lenders and borrowers in an efficient and secure manner using the speed, automation, and also security of Blockchain, also it will reward.
IDO Launch Platform
AXL Pad will offer crypto projects the ability to initiate and also distribute tokens through an IDO.
Buyback and Burn
A portion of the transaction fees, along with IDO fees will be used for $AXL and $AXLs buybacks and burning.
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AXL Ecosystem
There are many tokens such as DeFi, Wallet, and NFT tokens in the Axelar ecosystem.
AXL Roadmap?
As seen in the table below, Phases 1 and 2 are completed.
Phase 1
- Poly Network Bridge for BSC/ETH
- AXL INU Pre-Sale
- DEX Listing
- CEX Listing
- Certik Contracts Audit
- Fairy Proof Audit
- Development: Flexible Staking on Both Chains
Phase 2
- Cex Listing
- Soft Marketing
- Dev: Both Chain Fixed Staking
- Dev: Yield Farming both chain
- Dev: LaunchPad
Phase 3
- Mass Marketing Campaign
- Finalizing our new Axl NFT collection
- Launching 2 Exclusive Celebrities NFT collections
- Dev: Launching INO Pad
- Dev: Initiating Metaverse Art Production & Development
- Dev: Development of NFT marketplace
- Dev: Launching NFT Staking Pools
- Dev: Brand Awareness Marketing
- Dev: More Exchanges Listing Partnerships
Phase 4
- Development of 3-D AXL INU Characters
- Advanced Development of AXL metaverse (e.g., Voice/Video Chat)
- NFT Listing Enabled on Marketplace
- NFT Design Contest
Phase 5
- Launching 3-D Builder
- Launching Play-to-Earn (P2E) inside the Metaverse
- Launching Land Rental Marketplace
- Aggressive Marketing and Brand Awareness
- Collaborating with Partners for Advertising
Tokenomics
- 17% supply for the core team.
- 12% supply for company operations.
- 29.54% supply for AXL supporters.
- 5% supply for community sale.
- 35.96% supply for community programs.
Team And Supporters
Axelar has an experienced team with members who have worked at top-tier institutions also like MIT, Google, and Consensys. Among the founders of the team are Georgios Vlachos and Sergey Gorbunov, former Algorand founders.
AXL has raised a total of $60 million in funding for the project.Companies such as Binance Labs, Coinbase Ventures, and DragonFly Capital back the project.
Market Data
With a Current Market Capitalization of $137,182,905 additionally a Current AXL Token Price of $0.3352, it’s important to note that the circulating supply of AXL Tokens, out of a total supply of 1,098,844,688, stands at 410,764,765, also accounting for approximately 37% of the total supply.
Where can you purchase the AXL Token?
The AXL Token is currently listed on many major cryptocurrency exchanges. Also these exchanges include Gate.io, KuCoin, Kraken, and Bybit. You can purchase AXL tokens from these exchanges.
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