Question 1

What is WAXL?

Accepted Answer

WAXL (also written as wAXL) is an ERC-20 wrapped representation of Axelar's native token, AXL, for use in ERC-20 format on EVM-compatible chains. It is not another independent economic asset unrelated to AXL; it is designed to allow native AXL to be recognized and used in the token and application environments of those networks. When understanding WAXL, it is essential to confirm both the token form and the network: although both are AXL-related assets, native AXL and WAXL on a particular EVM chain differ in technical form and in the operations that can be performed.

Question 2

What is the relationship between WAXL and native AXL?

Accepted Answer

WAXL corresponds to native AXL on a 1:1 basis: one WAXL corresponds to one native AXL held in custody by a gateway. This relationship means wrapping changes the asset's technical representation on the destination chain; it does not exchange AXL for another asset at a floating ratio. When native AXL is held in custody to support use on EVM-compatible chains, a corresponding amount of WAXL can be minted on the destination chain; therefore, WAXL's availability depends on this cross-chain custody and representation mechanism rather than on a separate fixed issuance schedule.

Question 3

How is WAXL created and removed from circulation?

Accepted Answer

WAXL is created through the cross-chain representation process for native AXL: after native AXL is held in custody by a gateway, an equal amount of WAXL is minted on an EVM-compatible chain. The minted amount is based on the native AXL held in custody, maintaining a 1:1 correspondence between them. Conversely, WAXL should not be understood as an independent token with a pre-fixed supply. Its amount changes as native AXL is converted to and from representations on EVM chains; the specific available paths depend on support for this asset form by the relevant networks and services.

Question 4

Can WAXL be used directly for AXL staking?

Accepted Answer

WAXL on an EVM chain cannot be directly regarded as stakeable AXL. Axelar's documentation applies staking to native AXL; therefore, if an operation requires AXL staking, users need to use native AXL rather than merely holding WAXL. The reason is that wrapping addresses token representation and availability on EVM chains, whereas staking requires the native token form. A 1:1 correspondence does not mean the two forms can be used interchangeably in every protocol function.

Question 5

What should be verified when transferring or using WAXL?

Accepted Answer

Before transferring or using WAXL, first confirm that the recipient's network supports WAXL in this ERC-20 representation, and confirm that the receiving address belongs to that network. Similar-looking address strings do not prove that an asset will be usable on the wrong network. This is important because WAXL's definition itself includes being a representation on EVM-compatible chains: the asset form, network, and receiving address must match. Even though native AXL and WAXL correspond 1:1, this does not mean that any network or any AXL-related address can receive and use WAXL normally.

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