Why Axelar is so important?

3 min readJan 16, 2022

Empowering dApp builders and blockchain ecosystem

What is Axelar?

Simply sayng, Axelar network is a bridge, that brings together blockchain ecosystems and enable applications to communicate frictionlessly across them. It happens thanks to the big set of tools, a protocol suite and APIs, that help blockchain platform builders, dapps builders and ordinar users.

Blochchain builders can plug-in their blockchain to all other blockchain ecosystems.
Dapps builders can host your application anywhere, lock, unlock, transfer assets, and communicate with applications on any other chain via Axelar API.
Users can interact with all applications across the ecosystem directly from their wallets.

Axelar is powered by a decentralized open network of validators, anyone can join, use it, and participate in the network protocol.

There are 2 core Axelar’s protocols:

Cross-Chain Gateway Protocol (CGP). This protocol is analogous to Border Gateway Protocol on the Internet. This protocol is used to connect multiple autonomous blockchain ecosystems and is responsible for routing across them. Blockchains do not need to “speak any custom language”, their platform developers do not need to make any custom changes on their chains, and their chains can be plugged into the global network easily.
Cross-Chain Transfer Protocol (CTP). This protocol is analogous to application-level protocols File Transfer, Hypertext Transfer Protocols on the Internet. It is an application-level protocol stack that sits on top of routing protocols (such as CGP and other routing technologies). Application developers can connect their dapps on any chain to perform cross-chain requests. Users can use the CTP protocol to interact with applications on any chain using simple API calls analogous to HTTP GET/POST requests. Developers can lock, unlock, and transfer assets between any two addresses across any blockchain platforms, execute cross-chain application triggers

Investors and Backers

Private round:

$25M raised during private fundraising round. Polychain Capital, Dragonfly Capital, Galaxy Digital, North Island Ventures; Robot Ventures, Collab+Currency, Lemniscap, Divergence Ventures; Hypersphere are among investors.

Polychain: https://polychain.capital/
Dragonfly Capital: https://www.dcp.capital/
Coinbase Ventures: https://www.coinbase.com/
Binance: https://labs.binance.com/
Crypto.com: https://crypto.com/exchange/

Main partners

Polygon, Terra, Avalanche, Moonbeam, Kepler, Pangolin, Cosmo station, Citadel.one, Metrika.

Polygon is a aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.
Current MC: $16,957,428,848
Website:https://polygon.technology/

Avalanche is the fastest smart contracts platform in the blockchain industry.
Current MC: $22,778,614,011
Website:https://www.avax.network/

Moonbeam is a fully Ethereum-Compatible Enviroment on Polkadot.
Current MC: $903,626,956
Website:https://moonbeam.network/

Terra is a public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings DeFi to the masses.
Current MC: $31,000,387,424
Website: https://www.terra.money/