AXL is the native token of Axelar, an interchain communication protocol for web3. It functions as a means of payment for transactions on the platform and ensures the security and reliability of data transfer between different blockchains. The AXL token is also used to incentivize network participants, such as block providers and bridges.
The creation of Axelar was inspired by the need to ensure connectivity and interoperability between various blockchains that often operate in isolated modes. This enables projects and applications to leverage the advantages of different blockchains and expand their potential.
