Axelar (CRYPTO: AXL)

AXL is the native token of the Axelar network, which enables decentralised cross-chain communication by connecting independent blockchain platforms. AXL is primarily used for staking within the network's Delegated Proof-of-Stake system, allowing validators to secure the protocol and process cross-chain transactions using threshold cryptography. The token also functions as a means of payment for transaction fees and grants governance rights to holders, who can vote on network upgrades, supported chains, and protocol changes. Additionally, AXL supports network recovery mechanisms by enabling fallback controls in case of validator failure or system stalls. Through these roles, AXL facilitates secure interoperability, decentralisation, and network coordination across multiple blockchain ecosystems.