What is Axelar (WAXL)

1. Project Introduction
Axelar is a decentralized cross-chain communication network that enhances Web3 interoperability by connecting diverse blockchains and enabling asset mobility and programmability for developers and end users. Axelar consists of three main components: a decentralized network, a set of gateway smart contracts that link the Axelar network with external chains, and protocol SDKs and APIs. Established in 2020, Axelar leverages Cosmos technology to facilitate interoperability with Ethereum and other networks. Its technology supports not only cross-chain asset transfers but also complex functionalities, such as cross-network smart contracts and decentralized applications (dApps). According to its website, Axelar currently connects over 60 blockchains, with a transaction volume of $8 billion, and has partnered with major companies and projects, including Microsoft, Mastercard, Ondo Finance, JP Morgan's Onyx, and Deutsche Bank.
Summary: Axelar emphasizes full-stack interoperability, supporting traditional asset bridging, information transfer, and cross-network programmability, including smart contract execution and cross-network dApps.
2. Team & Investment Info
Team:
Sergey Gorbunov: Co-founder & CEO. Previously part of Algorand's founding team, handling business and technical tasks and leading the cryptography team. Formerly with IBM TJ Watson Research Center.
Georgios Vlachos: Co-founder, former head of mathematical research at Algorand, with a Bachelor’s and Master’s in Computer Science from MIT.
Funding:
November 2020: Raised $3.75 million in seed funding from Binance X, DCVC, and others.
July 2021: Secured $25 million in Series A funding, led by Polychain Capital with participation from Dragonfly Capital, Galaxy Digital, and others.
February 2022: Closed a $35 million Series B funding round, with backers including Dragonfly Capital, Polychain Capital, and North Island Ventures, among other venture firms and angel investors like Waikit Lau and Gokul Rajaram.
3. Social Media URLs
X: https://x.com/axelar
Telegram: https://t.me/axelarcommunity
YouTube: https://www.youtube.com/@axelar-network
4. Token Info
Token Symbol: WAXL
Total Supply: 1,167,257,812
Token Type: ERC-20
Issuance/Burn Mechanism: Initial supply of 1 billion tokens with an inflationary mechanism. In January 2024, Axelar proposed a gas burn mechanism to remove gas fees from the circulating supply.
Contract Address: https://etherscan.io/token/0x467719aD09025FcC6cF6F8311755809d45a5E5f3
Token Distribution:
Core Team: 17%, linear vesting over 4 years.
Operations: 12.5%, linear vesting over 4 years.
Seed Round: 13.4%, linear vesting over 2 years.
Series A: 12.64%, linear vesting over 2 years.
Series B: 3.5%, linear vesting over 2 years.
Community Sale: 5%, linear vesting over 6 years.
Community Projects: 35.96%, linear vesting over 4 years.
5. Related Links
Official Website: https://www.axelar.network/
White Paper: https://www.axelar.network/whitepaper
LinkedIn: https://www.linkedin.com/company/axelarnetwork/
Other Info:
https://www.rootdata.com/Projects/detail/Axelar?k=MjEwNg%3D%3D