In this presentation, I would like to discuss Axelar's growth (in both bridging and GMP), its competitive landscape, and token (AXL).

In different sections of this presentation, I will examine the following:

• Chain general metrics: Total number of wallets, transactions, and success rate
• AXL token: AXL Price, holders, delegation, and Swapping on Osmosis
• IBC activity
• GMP activity

First, let's get acquainted with some concepts:

While bridges all have a similar goal, Axelar is working toward a vision of web3 interoperability that goes beyond bridges. Axelar is a blockchain that connects blockchains — a PoS blockchain acting as an overlay network, delivering secure cross-chain communication. According to the protocol foundation, developers use Axelar to build dapps that let their users interact with any asset or application, on any chain, with one click. In their white paper published in January 2021, Axelar's co-founders were the first to describe a method for securely passing arbitrary messages between blockchains. Axelar calls this feature General Message Passing, and rolled it out in March of 2022. General Message Passing opens the door for a number of novel use cases including, cross-chain borrowing and lending, cross-chain liquidity aggregators, and cross-chain NFT exchange and borrow/lend.

General Message Passing Axelar's General Message Passing (GMP) enables a developer building on one chain to call any function on any other connected chain. That means complete composability across Web3. With GMP you can: Call a contract on chain B from chain A. Call a contract on chain B from chain A and attach some tokens.

AXL is the native token of the Axelar network. The protocol also supports the cross-chain transfer of several native tokens via their wrapped ERC-20 versions, including AVAX (Avalanche), ETH (Ethereum), FTM (Fantom), GLMR (Moonbeam), and MATIC

The Inter-Blockchain Communication Protocol (IBC) (opens new window)is a protocol to handle authentication and transport of data between two blockchains. IBC requires a minimal set of functions, specified in the Interchain Standards (ICS) (opens new window). Notice that those specifications do not limit the network topology or consensus algorithm, so IBC can be used with a wide range of blockchains or state machines. The IBC protocol provides a permissionless way for relaying data packets between blockchains, unlike most trusted bridging technologies. The security of IBC reduces to the security of the participating chains.