Axelar is a cross-chain communication network secured by its token, AXL, through proof-of-stake. To fit the interoperability network, AXL tokens are chain-agnostic assets with multiple representations across various blockchains. The ERC-20 version of the AXL token (wAXL) is one such cross-chain representation. In this case, natively issued AXL tokens on the Axelar blockchain are locked in a gateway on Axelar and minted by a gateway smart contract on an EVM-compatible blockchain.
