Axelar Network (AXL)

Cross-Chain Communication

Axelar Network connects different blockchains, allowing them to talk and work together smoothly. This helps users and developers move assets and data across multiple blockchains easily.

Decentralized Applications (dApps)

Developers can use Axelar’s tools to build dApps that work on many blockchains at once, making apps more flexible and accessible.

Cross-Chain Token Transfers

Axelar enables secure and fast token transfers between different blockchains without needing multiple bridges, simplifying asset movement.

Cross-Chain Messaging

Axelar supports General Message Passing (GMP), which lets blockchains send complex messages and data to each other, enabling advanced cross-chain functions beyond simple token transfers.

Use Cases in DeFi and Gaming

Axelar is used for cross-chain swaps, creating wallets with universal borrow-lend features, and blockchain-based gaming experiences, helping expand the possibilities of Web3.

Ecosystem Support

Big projects like Uniswap and Circle use Axelar for multichain upgrades and stablecoin transfers, showing its role in powering a connected blockchain ecosystem.

Pros

• Axelar Network enables seamless cross-chain communication, allowing different blockchains to connect and interact easily.
• It supports smart contracts on a cross-chain layer, giving developers powerful tools to build multi-chain decentralized apps.
• The network uses a decentralized validator set and advanced cryptography, which helps maintain security and reliability.
• Axelar offers one-click deployment for developers, simplifying onboarding and speeding up development.
• Built on Cosmos SDK, it is scalable, customizable, and designed for interoperability.
• It supports both public and private blockchains, expanding its usability across many ecosystems.
• The network provides low fees and efficient transaction processing through collective validator signatures.

Cons

• Validator consensus requires a high percentage of confirmations, which can add latency to cross-chain operations.
• Compared to some competitors, Axelar supports fewer networks (around 11), which might limit immediate reach.
• The complexity of cross-chain smart contracts and protocols may require developers to have specialized knowledge.
• As a relatively new network, it may still be evolving in terms of ecosystem maturity and adoption.

Founders

Axelar Network was founded by Sergey Gorbunov and Georgios Vlachos in 2020.

• Sergey Gorbunov is a co-founder and CEO with a background in cryptography and distributed systems.
• Georgios Vlachos co-founded Axelar alongside Sergey, and both were founding team members at Algorand.

They started Axelar to create a decentralized network that enables secure cross-chain communication for Web3 applications.

Institutional Investors

Axelar Network has attracted many well-known institutional investors including Polychain Capital, Dragonfly Capital, Galaxy Digital, North Island Ventures, Robot Ventures, Collab+Currency, Cygni Capital, Lemniscap, Divergence Ventures, SCB 10X, Hypersphere, Zola Global Investors, Morningstar Ventures, Nima Capital, GoldenCoin TS LLC, Arrington Capital, Electric Capital, Concept2Company Ventures, Distributed Global, Laser Digital, DCVC, Spark, Olive Tree Capital, and others.

Angel Investors

Notable angel investors include Do Kwon (co-founder of Terra), Happy Walters (co-founder and CEO of Catalyst Sports & Media), Waikit Lau (founder and CEO of RemoteHQ), Naval Ravikant, Sergey Gorbunov (Axelar co-founder & CEO), and others.

Recent and Strategic Investors

Recent funding rounds have included investments from Arrington Capital and Electric Capital. The Axelar Foundation also supports growth through strategic investments and token allocations.

Summary

Axelar Network is backed by a diverse group of over 35 investors, including top venture capital firms, angel investors, and strategic partners focused on blockchain interoperability and Web3 infrastructure.

Halal Status

Yes, Axelar Network is considered halal. It provides genuine utility by enabling secure cross-chain communication and interoperability between blockchains without involving prohibited activities.

Reasoning

Its business model focuses on infrastructure and technology rather than speculation or interest-based finance. The network uses proof-of-stake for security and supports ethical blockchain projects, aligning with halal principles.