On March 11, The Block reported that Axelar Foundation had announced a $30 million AXL token sale. Investors participating in the round include Arrington Capital, Distributed Global, Electric Capital, Laser Digital, C² Ventures, Plassa Capital, and Wagmi Ventures. However, Axelar Foundation did not disclose the token sale price or AXL’s valuation.
According to the announcement, this investment will support the expansion of USD applications via stablecoins while also promoting the tokenization of real-world assets (RWA) within Axelar’s cross-chain interoperability framework.
A representative from Axelar Foundation stated that the transaction took place over the past few months. Part of the investment came from the purchase of unlocked AXL tokens from the project's community fund. However, these tokens will now be subject to a new vesting period of 6 to 12 months, meaning Axelar Foundation was not the only seller in this transaction.
Additionally, some investors may have purchased AXL tokens through OTC transactions rather than directly from Axelar Foundation. The identities of other sellers were not disclosed.
With this transaction, Axelar Foundation’s total funding has surpassed $130 million, including $100 million from previous funding rounds and public token sales.