axellar fee generation
AXL is the native token of the Axelar network. The AXL token supports the following critical functions:
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AXL is a medium for transaction fees and any other fees for network usage, paid by users to the validators that run the network.
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AXL is used by holders and their proxies to stake and exercise governance over proposals (such as a parameter change or protocol upgrade).
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AXL enables incentives to support the decentralized Proof-of-Stake consensus that secures the network and validates transactions on chain. Validators receive AXL rewards as incentives to continue to secure the network. These incentive rewards are distributed programmatically, per rules encoded in network protocols, and are inflationary, i.e., each protocol reward increases the total token supply.
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AXL is used to reward ecosystem builders and community contributors.
AXL is designed to help the Axelar network achieve four outcomes as a universal connector of blockchain ecosystems:
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Security: providing incentives to encourage a wide set of validators to participate.
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Decentralization: wide distribution among token holders, delegating to validators, and participating in network governance decisions.
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Longevity: incentives that encourage maintenance of the network.
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Ecosystem growth: incentives for developers to use Axelar SDKs and APIs to build cross-chain capabilities into their applications.()
Axelar is a decentralized network that can attest that the USDC is correctly burnt on the source chain in addition to Circle's CCTP before executing requests on the destination chain.
Axelar Wrapped USDC (axlUSDC) is a cryptocurrency and operates on the BNB Smart Chain (BEP20) platform. Axelar Wrapped USDC has a current supply of 0. The last known price of Axelar Wrapped USDC is 1.00070259 USD and is down -0.04 over the last 24 hours. It is currently trading on 14 active market(s) with $45,194.52 traded over the last 24 hours.