WAXL-Wrapped AxelarDetailed Description

WAXL-Wrapped Axelar Detailed Description

Axelar is a cross-chain communication network secured by the token AXL through proof of stake. Designed to fit into an interoperable network, the AXL token is a chain-agnostic asset with multiple representations on multiple blockchains. The ERC-20 version of AXL token (wAXL) is the cross-chain representation of such a token. In this case, AXL tokens issued natively on the Axelar blockchain are held in the gateway on Axelar and minted by the gateway smart contract on the EVM-compatible blockchain.