How can blockchains truly unlock their potential if they can't talk to each other? Axelar is considered the backbone of blockchain interoperability because it's a decentralized interoperability network that is rapidly transforming the blockchain landscape by connecting major networks such as Ethereum, Cosmos, and Avalanche. Its mission is to eliminate fragmentation and enable seamless cross-chain communication, making blockchain more unified and accessible.
Source: https://www.axelar.network
What Is Axelar and Why Is It Important?
Source: https://www.axelar.network
Why does interoperability matter in a world of hundreds of blockchains? Axelar's vision is to create a universal, programmable interoperability layer that abstracts away the complexities of cross-chain communication. As the number of blockchains grows, the need for secure, efficient, and trustless connectivity becomes critical for the development of scalable decentralized applications (dApps) and the broader adoption of Web3 technologies. Axelar's ability to facilitate these connections positions it as a foundational infrastructure provider in the growing crypto industry.
Key Features of Axelar
• Staking and Security: AXL tokenholders can stake their tokens to support network security. By delegating AXL to validators, they help maintain the integrity of the network and, in return, earn staking rewards. This process incentivizes validators to participate honestly and ensures the network remains robust and decentralized.
• Governance: AXL holders have the power to participate in the governance of the Axelar network. They can vote on proposals, such as protocol upgrades or parameter changes, giving the community a direct voice in the evolution and direction of the platform.
• Transaction Fees: AXL is used to pay for transaction fees within the network. However, users do not need to hold AXL directly; Axelar's backend smart contracts handle conversions, allowing users to pay gas fees once, in their source-chain token, for a seamless experience.
• Incentives: The AXL token provides incentives for validators, developers, and users. These incentives help maintain and grow the network, encouraging ongoing participation and innovation within the Axelar ecosystem.
• Cross-Chain Operations: AXL facilitates cross-chain transactions and interactions. It enables seamless communication and data exchange between different blockchain ecosystems, making interoperability a core feature of the network.
These essential uses of AXL are fundamental to the operation, security, and growth of the Axelar network, driving its mission to enhance interoperability and scalability across the blockchain world.
Who Created Axelar?
Source: Serget Gorbunov at the Redefine Tomorrow 2024 Conference
Axelar was co-founded in June 2020 by Sergey Gorbunov and Georgios Vlachos. Sergey Gorbunov, who serves as the CEO of Axelar, is a recognized expert in cryptography and blockchain technology, with a background that includes a Ph.D. from MIT and previous experience as a founding team member and Chief Cryptographer at Algorand. Georgios Vlachos also played a key role in Algorand before co-founding Axelar.
The project was initially developed by Interop Labs and brings together a team of global experts in distributed systems and cryptography. Axelar's founders set out to solve the challenge of blockchain interoperability, aiming to make it easy for developers and users to interact across multiple blockchain ecosystems without having to learn new programming languages or deal with complex integrations.
Key Developments of Axelar in 2025
Axelar has rapidly emerged as a critical infrastructure layer in the cross-chain ecosystem, with strong momentum in both adoption and technical integration. Between 2023 and 2025, the platform experienced significant growth. Active users surged by 71% in 2024, transaction volume jumped 50% to $3.1 billion, and total transfers processed doubled to 1.67 million. By 2025, Axelar connects to over 69 blockchains, has processed more than 2.5 million transactions, and facilitated over $10 billion in cross-chain value transfers. With over 150 integrations across nine verticals, Axelar powers decentralized applications and traditional finance use cases alike, supporting partners such as J.P. Morgan’s Onyx, Uniswap, and Deutsche Bank.
What makes Axelar stand out is its decentralized validator set, multi-party cryptography, and universal Gateway model, offering a robust alternative to legacy bridge designs. It supports automated gas payments and a developer-friendly, plug-and-play interface that simplifies cross-chain deployment. As Web3 grows more interconnected, Axelar’s secure and scalable infrastructure is poised to become a foundational layer for the next generation of interoperable dApps and blockchain networks.
How Does Axelar Work?
What's the secret behind Axelar's secure cross-chain transfers? The network's architecture is built around Gateway smart contracts, which are deployed on every connected blockchain. These contracts serve as entry and exit points for cross-chain messages and asset transfers. Validators govern these Gateways using a multi-party cryptography scheme, where each validator holds key shares proportional to their staked AXL tokens. Any action on a Gateway requires a threshold of validator approvals, ensuring decentralized control and high security.
Validators and Security
Who keeps Axelar's network safe and how? Validators in the Axelar network play a dual role. They are responsible for both maintaining consensus on the Axelar blockchain and verifying cross-chain activity. Validators must run nodes on supported chains, monitor Gateway contracts, and participate in voting to confirm and authorize cross-chain transactions. This decentralized approach reduces the risks associated with centralized bridges and ensures the integrity of asset and data transfers.
Relayer Services and Gas Receiver
Relayer services are essential for facilitating the movement of messages and assets between chains. Anyone can run a relayer, and their main tasks include initiating deposit confirmations and automating gas payments via the Gas Receiver contract. The Gas Receiver allows users or developers to prepay gas fees on the source chain, which are then used to execute transactions on the destination chain. This innovation simplifies the user experience and streamlines cross-chain workflows.
Developer Tools: CLI, SDK, and APIs
Axelar offers a robust suite of developer tools, including a Command-Line Interface (CLI), Software Development Kit (SDK), and various APIs. These tools enable developers to build scalable, interoperable dApps without needing deep protocol knowledge. The programmability of Axelar's platform, combined with its security and ease of use, has driven strong developer adoption, with over 1.3 million SDK downloads to date.
What Is AXL, Axelar Network's Native Token?
Source: Axelar Network
$AXL is the native proof-of-stake (PoS) token at the heart of the Axelar network, powering its programmable interchain layer and enabling secure, decentralized cross-chain communication. Tokenholders can stake AXL to help secure the network and earn rewards, participate in governance by voting on protocol changes, and pay transaction fees, though users don't need to hold AXL directly, as smart contracts handle conversions and gas payments in source-chain tokens.
AXL also incentivizes validators, developers, and users to contribute to the network's growth and stability, while facilitating seamless cross-chain operations and data exchange between diverse blockchain ecosystems. These multifaceted uses make AXL central to Axelar's mission of enhancing interoperability, scalability, and developer innovation across Web3 platforms.
Source: Axelar Network
The AXL token is central to Axelar's ecosystem, serving as the medium for governance, transaction fees, staking, and network security. Recent upgrades, such as the "Cobalt" tokenomics overhaul, have introduced mechanisms like burning network gas fees and rewarding verifiers from existing AXL supply pools. As of June 2025, AXL is ranked 116th in the crypto ecosystem, with a market cap of approximately $665 million and a circulating supply of over 666 million tokens.
How to Buy Axelar ($AXL) on BingX
Here's an easy step-by-step guide on how you can get AXL tokens on BingX:
Source: BingX
1. Register for a BingX Account: Sign up on the BingX website or app and complete identity verification.
2. Secure Your Account: Enable two-factor authentication (2FA) for extra security.
3. Deposit Funds: Deposit USDT or other supported currencies via on-chain transfer (like TRC-20 for low fees) or fiat payment methods.
4. Buy AXL: Go to the spot trading section, search for WAXL/USDT, enter the amount, and confirm your purchase.
5. Store AXL: View your AXL in your secure BingX wallet
That's it! You’re now ready to trade or invest in Axelar (AXL) on BingX.
Conclusion
Axelar is positioned to play a key role in the evolving Web3 landscape by enabling secure, scalable, and developer-friendly cross-chain communication. Its combination of proof-of-stake security, multi-party cryptography, and a universal Gateway system allows dApps, users, and institutions to interact across more than 50 blockchains with minimal friction. The $AXL token further supports this ecosystem by securing the network, enabling governance, and incentivizing participation from validators and developers. As interoperability becomes a cornerstone of decentralized innovation, Axelar provides the infrastructure needed to support the next wave of blockchain-based applications.
However, as with any emerging blockchain infrastructure, Axelar faces certain risks. These include potential smart contract vulnerabilities, evolving regulatory landscapes, and dependency on continued adoption by developers and partner ecosystems. While the technology offers compelling advantages, users and investors should remain aware of these factors when engaging with the platform or its native token. Due diligence, continuous monitoring, and a clear understanding of cross-chain protocols are essential for navigating the opportunities and challenges that come with Axelar’s rapid growth.