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AXL is the native token of Axelar Network, a multi-layered blockchain ecosystem that aims to solve the challenges.
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AXL serves as a store of value and a resource for computations on the network.
As mentioned earlier, the AXL crypto has three main functions in the Axelar Network: transaction fees, network security, and network governance.
Transaction Fees: To enable cross-chain communication and transactions, a fee in AXL tokens is charged. These fees help to preserve the network’s integrity by preventing spam or malicious activities.
Network Security: AXL tokens are used to reward network validators. These validators run nodes, verify transactions, and ensure the overall security and consensus of the Axelar Network. Validators receive AXL tokens for their work.
Network Governance: AXL Crypto holders have a voice in the future direction and changes of the Axelar Network. The governance system allows token holders to suggest and vote on various networ
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