The main role of the AXL tokens is for gas fee payment when making transactions or using a cross-chain function on platforms. In addition, node validators will get AXL as a reward for supporting their trustworthy works.
AXL was created on 27 October 2022 and has a total token supply of 1 billion tokens. Its inflation rate was around 8% and 0.5 to 1% for every network that connects. Besides, AXL has a mechanic to burn coins, which can control the inflation rate as well.
For the AXL distribution, it is separated into 4 main parts as follows:
- 29.5% for incentives to the company, employees, and consultants
- 29.54% for backers after the opening of Mainnet
- 5% for the community sale
- 35.96% for the community development programs managed by Axelar Foundation
Meanwhile, some tokens were locked during the opening of Miannet and then gradually launched from 6 months to 4 years to prevent a huge sale from the first group of investors, which is unfair to new investors.
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