Projects listed: 276 |
BTC Dominance: 51.13% | Volume (24h): $42,642,616,474 | Market Cap: $2,608,546,033,670
Axelar
WAXL
0.393866898491
Sector
Cross chain
Exchange Debut
2022-09-27
Market Cap
139007434.24389
Maxim Supply
∞
Circulating Supply
352929974
Circ. Supply(%)
Axelar
WAXL
Price
0.393866898491
Market Cap
Sector
Exchange Debut
Volume 24h
High 24h
Low 24h
21060874
0.397384008357
0.388266342238
Change 24h
Change 7d
Change 30d
-0.7691
-2.3715
11.8023
Maxim supply
Circulating supply
Circulating supply(%)
∞
352929974
The opinion of artificial intelligence (AI), based on the fundamental analysis of the Axelar cryptocurrency:
In the realm of decentralized finance, the fundamental analysis of the cryptocurrency Axelar provides invaluable insights. Axelar, as a project, spearheads secure cross-chain communication for Web3, thereby facilitating the creation of interconnected decentralized applications (Interchain dApps). This feature offers users a comprehensive experience, enabling them to interact with any asset or application across any blockchain via a single click. Furthermore, Axelar is built on a proof-of-stake mechanism, a tried-and-true model adopted by eminent blockchain platforms like Ethereum, Polygon, and Cosmos.
In the midst of our fundamental analysis of the cryptocurrency Axelar, we find an impressive overall score of 7.38 out of 10 based on our evaluation criteria. This rating is indicative of Axelar’s experienced development team and its flourishing social media community. The project’s credibility is further bolstered by the involvement of high-quality partners and investors.
Nevertheless, the same fundamental analysis of the cryptocurrency Axelar also flags a certain degree of risk tied to the token economy. This risk is primarily attributed to the inflationary nature of the project and the centralization of the token, which contributed to a lower score in this specific criterion. However, Axelar shines in the area of public information transparency, which is a cornerstone of its strengths, and its security measures have received a satisfactory rating.
Fundamental analysis of the Axelar cryptocurrency – The final conclusion
To sum up, based on the fundamental analysis of the cryptocurrency Axelar, it emerges as a project worthy of consideration for potential investors. Its strengths lie in its proficient team, trusted partners and investors, valuable product offering, and expanding social media presence. However, investors should exercise caution due to the higher risks inherent in the token economy.
What is Axelar ?
Axelar delivers secure cross-chain communication for Web3, enabling you to build Interchain dApps that grow beyond a single chain. Secure means Axelar is built on proof-of-stake, the battle-tested approach used by Ethereum, Polygon, Cosmos, and more.
Axelar enables secure interchain communication and token transfers, regardless of consensus mechanism or message payload.
Interchain apps built on Axelar are permissionless, meaning that their transactions cannot be censored by any oracle, relayer or validator. Axelar is based on the same proof-of-stake security model as many of the chains it connects.
Axelar is a blockchain that connects blockchains. To do this securely, Axelar network uses battle-tested proof-of-stake consensus. Network validators produce new blocks, participate in multiparty signing and vote on external chain states.
Governance
Tokenholders stake the AXL token, delegating tokens to a validator’s staking pool and receiving rewards, minus the validator’s commission.The AXL token is used for governance, allowing stakers to exercise governance over proposals, such as a parameter change or protocol upgrade.
AXL is used to pay network transaction fees to validators and tokenholders, but users of the Axelar network do not need to hold the token. Conversions into AXL tokens and destination-chain tokens are handled on the back end, so that users need only pay gas once, in the source-chain token.
Axelar has raised capital from top-tier investors, including Dragonfly Capital, Polychain Capital, Coinbase, and Binance. Partners include major proof-of-stake blockchains, such as Avalanche, Cosmos, Ethereum, Polkadot, and others. Axelar’s team includes experts in distributed systems/cryptography and MIT/Google/Consensys alums; the co-founders, Sergey Gorbunov and Georgios Vlachos, were founding team members at Algorand.
Inflation
Axelar network rewards are “inflationary” — they increase the total supply of AXL — but there is potential for supply to become deflationary based on the transaction fee mechanic described above. If there is change from conversions and fee payments on other chains, that change may be partially refunded to users and/or used in buyback-and-burn programs.
Axelar has high chances of a rapid evolution because it has a number of important partners from the crypto space such as: Cricle, quickswap, Pangolin, Ledger, SpokySwap, Osmosis.
Axelar connects 30 blockchains, 1.8 billion transactions and over 70 validators.
- Latest analysis update: June 15, 2023
Axelar - WAXL performance
GENERAL CRITERIA:
Score
SOCIAL & MASS MEDIA
0
AUDIT & SECURITY
0
TOKENOMICS
0
ECOSYSTEM DEVELOPMENT
0
TEAM & DEVELOPERS
0
PRODUCT & UTILITY
0
PARTNERS & INVESTORS
0
Content description – Go to Metholodogy
Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.
Audit & Security In particular, the team looks if the project is audited, how extensive the audit is, at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.
Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.
Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.
Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.
Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.
Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.
Go to Methodology
Content description
Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.
Audit & Security In particular, the team looks if the project is audited, how extensive the audit is, at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.
Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.
Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.
Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.
Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.
Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.
