What is Axelar?

Axelar is a decentralized network that enables secure cross-chain communication, allowing decentralized applications to interact with multiple blockchain environments using a standardized protocol. Instead of relying on centralized or ad hoc bridge solutions, Axelar provides a scalable infrastructure through a network of validators that manage the flow of messages and assets across blockchains. It supports General Message Passing (GMP), which lets developers perform function calls between chains, not just asset transfers. This allows dApps on different networks to communicate with each other as if they were on the same chain. Axelar simplifies the integration process for developers through a set of SDKs and APIs, which abstract the complexities of cross-chain interactions.

The network uses a delegated proof-of-stake consensus mechanism, where validators secure the network and execute cross-chain messages. Gateways are deployed on each supported blockchain and serve as the connection points for Axelar’s cross-chain operations.

History of Axelar

Axelar was founded in 2020 by Sergey Gorbunov and Georgios Vlachos. Both were previously involved with the Algorand project, contributing to its consensus protocol and cryptographic foundations. The project emerged out of the growing need to address fragmentation in the blockchain industry. While many chains were scaling vertically, few reliable systems were in place to connect them securely and efficiently. Axelar was created to solve this problem using a decentralized and programmable cross-chain infrastructure.

The project gained early traction through a $3.75 million seed round supported by Binance and other investors. This funding was used to build the initial protocol and validator infrastructure. Axelar’s mainnet officially launched in February 2022, and since then, the network has expanded to support over 36 blockchains. Major integrations include Ethereum, Cosmos Hub, Avalanche, Arbitrum, Optimism, Polygon, and others.

Team, Founders and Investors of Axelar

Sergey Gorbunov and Georgios Vlachos co-founded Axelar. Gorbunov, who completed his Ph.D. at MIT focusing on advanced cryptographic protocols, previously contributed to the development of Algorand and played a role in standardizing BLS signatures. Vlachos designed the Algorand consensus protocol. The broader Axelar team comprises experts in distributed systems, cryptography, and technology.

Axelar has secured funding from several prominent investors. In its Series A funding round, the company raised $25 million, led by Polychain Capital, with participation from Dragonfly Capital, Galaxy Digital, and Coinbase Ventures. Earlier, in a seed round, Axelar raised $3.75 million from investors including Binance, DCVC, Lemniscap, and Divergence Ventures.

Roadmap of Axelar

Axelar’s development has followed a clear roadmap centered around enhancing interoperability, increasing network programmability, and improving scalability. In early 2024, the network released several key upgrades. In February, it launched the Interchain Token Service (ITS) on mainnet, following a governance vote. ITS enables developers to deploy tokens that can move seamlessly across chains while maintaining a single supply and state.

In March 2024, the Axelar Virtual Machine (AVM) was deployed to mainnet. AVM allows developers to write smart contracts that run on Axelar and coordinate logic across multiple chains. This is a significant upgrade from simple asset transfers, enabling more advanced multi-chain applications.

In August 2024, Axelar launched the Interchain Amplifier, a system that allows any chain to connect to Axelar dynamically and permissionlessly. This removes the need for hardcoded integrations, reducing onboarding friction for new chains.

Highlights

• Axelar is a decentralized network that enables cross-chain communication through secure message passing and validator-managed infrastructure.
• It was founded in 2020 by Sergey Gorbunov and Georgios Vlachos, both with prior experience at Algorand.
• Axelar launched its mainnet in 2022 and has integrated with over 36 blockchain networks, including Ethereum, Cosmos, and Avalanche.
• The project has raised funding from major investors such as Polychain Capital, Binance, and Coinbase Ventures.
• Its 2024 roadmap includes the launch of Interchain Token Service, Axelar Virtual Machine, and Interchain Amplifier to support scalable and permissionless multi-chain development.