Axelar (AXL) is the native token of Axelar Network, a purpose-built Cosmos SDK / CometBFT blockchain using the CosmWasm VM that is natively connected to the Cosmos ecosystem via IBC.
Axelar Network provides cross-chain communication infrastructure, allowing applications and assets to move between otherwise separate blockchains. AXL is a proof-of-stake token native to this appchain, not an EVM-native asset; bridged ERC-20 representations of AXL exist on Ethereum, Base, Arbitrum, Optimism, Avalanche, Polygon, BNB Chain, Fantom, and Moonbeam via Axelar's own cross-chain messaging.
Axelar positions itself as shared interoperability infrastructure, with one validator set securing message and asset transfers across many connected blockchains rather than each needing a separate bridge.
AXL ties this to token value directly: validators must stake AXL to join the active set securing this shared cross-chain messaging layer, linking demand for the token to the security of the interoperability layer itself rather than to any single connected chain.
AXL is a utility and governance token, staked to secure Axelar Network under delegated proof-of-stake, used to pay transaction fees, and used for governance voting.
AXL launched with a genesis supply of 1 billion tokens in 2022 and has no fixed maximum supply, since new AXL is issued on an ongoing basis through staking rewards.
Net token emission is inflationary, driven by continuous proof-of-stake issuance rather than a burn mechanism.
Axelar was founded in 2020, but the AXL token itself did not launch until its 1 billion-token genesis supply was created in 2022, roughly two years after the project began.
Before token launch, Axelar raised a $3.75 million seed round (DCVC, Binance Labs, and angel investor Naval Ravikant) around November 2020, followed by a $25 million Series A in July 2021 led by Polychain Capital with Dragonfly Capital, Galaxy Digital, North Island Ventures, and Robot Ventures, bringing disclosed funding to roughly $29 million.
Axelar Network is a standalone Cosmos SDK / CometBFT blockchain using the CosmWasm VM, natively connected to the Cosmos ecosystem through IBC.
The network reaches consensus through delegated proof-of-stake, in which AXL holders stake tokens with validators who secure the chain.
Axelar was founded in 2020 by Sergey Gorbunov and Georgios Vlachos, who previously worked together on the Algorand blockchain.
The two co-founded Interop Labs Inc. to build Axelar's core protocol. In a deal expected to close in early 2026, Circle agreed to acquire the Interop Labs team and its proprietary IP, with Gorbunov reported to join Circle as part of the transaction.
The Axelar Foundation is the nonprofit steward of the Axelar protocol and the AXL token, and has historically funded open-source development through roughly $30 million in AXL token sales.
Interop Labs Inc. was the original for-profit development company ("DevCo") building the core protocol. Following Circle's 2026 acquisition of Interop Labs' team and IP, Common Prefix has assumed the lead development-company role for Axelar going forward.
Axelar is governed on-chain: AXL holders who stake their tokens vote on proposals covering parameter changes, protocol upgrades, and the addition of new connected chains.
Any AXL holder with a sufficient deposit can submit a governance proposal. The size of the active validator set, currently the top 75 validators, is itself an on-chain-governed parameter that can be adjusted through this process.
The dominant development for Axelar heading into 2026 is Circle's agreement to acquire the Interop Labs team and its proprietary IP, a deal expected to close in early 2026.
Circle plans to use the acquired talent and technology to expand its Arc enterprise blockchain and CCTP cross-chain transfer protocol across more than 100 blockchains. Axelar Network, its Foundation, and the AXL token are stated to remain independent and community-governed, with Common Prefix taking over Interop Labs' prior development responsibilities for the protocol.
Axelar maintains a public audit repository covering components such as axelar-amplifier, the interchain token service, axelar-core, and chain-specific integrations, with audits spanning August 2021 through at least April 2025.
Axelar disabled its connection to Secret Network after a $4.67 million exploit hit IBC-linked assets, stating the incident was isolated to a Secret-side contract and did not affect Axelar's core network.