Let's summarize how the Axelar (AXL) project is

Axelar is a cross-chain interoperability project. Based on cross-chain technology, it also proposes the concept of interchain, allowing Axelar to evolve from a cross-chain layer responsible for asset transfer to a cross-chain layer that can program and deploy smart contracts to perform more complex operations.

Project summary:

From the perspective of team and funding, the Axelar team has a strong academic background and has completed multiple rounds of financing with a total financing amount of approximately US$120 million. Investors include Binance, Coinbase Ventures, Polychain, etc.

From the perspective of products and technologies, Axelar is based on cross-chain technology and proposes the concept of interchain. In this concept, all Web3 applications will have a unified development environment. Axelar's interchain concept is an upgrade of the cross-chain concept, which can greatly improve efficiency and reduce costs, and for users, it will also have a smoother user experience. Therefore, the interchain solution proposed by Axelar has very strong potential in the future

From the perspective of project development, Axelar is currently developing well. The data has been growing, and the number of active users has remained relatively stable, showing the user stickiness of the Axelar ecosystem. The Axelar ecosystem is also expanding. It is currently connected to 60 chains, with more than 600 interactive, cooperative and integrated smart contracts.

From the perspective of token economics, AXL tokens are mainly used as application tokens of the network, playing the role of network consensus, governance, development, payment and other functions. In the future, AXL tokens will turn to deflation, which will further promote the healthy development of the network.

From the perspective of the track, the cross-chain interoperability track is still in the growth stage, and there will be a lot of room for growth in the future with the development of the public chain track and the DeFi track. The solution proposed by Axelar and the concept of inter-chain give it a unique advantage in scalability, which is a great competitive advantage in this track.

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