ℹ️ Update on the Network Fees The network was designed explicitly so that you only pay gas once, and never need to post additional transactions on destination chains or perform relays, as those services will be covered from your initial transaction. It enables very simple UX, but you need to account for all these steps when deducing the gas fees used for processing. Also, moving forwards Axelar's plan to address fees ⬇️ Short-Term Features: The fee collected by the network was increased due to spiking gas fees on the Ethereum network a few weeks ago. The teams will revisit the gas fees at the network and reduce if/when possible. But they will fluctuate with Ethereum gas prices. The relay fee is set to cover gas fees on average across all interconnected chains [but largely influenced by Ethereum, of course]. Mid-Term Features: Next, the teams are working on a number of optimizations that will go live on the network to further reduce fees: ✅ A new deposit service. It will have a more cost efficient way to process step #2. It's live on the testnet now and will transition to mainnet soon. ✅ Exposing the ability to send tokens directly to the gateway [without using the deposit address, and hence eliminating step/fee 2]. You can do it today, just the front-ends need to integrate this flow. This will work if you’re sending from a “smart” wallet, like Metamask and will cost very little. ✅ As more traffic is generated via the network, the amortized cost in the batches decreases.

To the Axelar community– We hope you’re all weathering the storm. In regard to the recent shakeouts, we want to take a moment to address any concerns. Axelar is NOT affected by the news. Our reserves are in cash/USDC and do not depend on market conditions. We have runway to continue building for over 5 years. As an industry, we will have to build and rebuild trust. There is no better way to do it than with permissionless, decentralized, and easy-to-use networks. This is an opportunity for strong teams and technology to be truly impactful and remain as long-term industry leaders. Feel inspired as we do by this opportunity? Join the conversation with us: discord.gg/axelar Let’s continue building for the interchain future together 🦾 🔥

Tokenomics information:

medium.com

🔗 Official Links Below is the list of Axelar's official links. Please note that any new announcements regarding the roadmap, new developments, etc. will be posted across our official announcement channels. ▫️ Axelar Website ▫️ Twitter ▫️ Youtube ▫️ Medium ▫️ Github ▫️ Documentation Portal ▫️ Block Explorer ▫️ Telegram Announcements ▫️ Telegram Community ▫️ Discord ▫️ Reddit

🔐 Security at Axelar Core Security is a multidimensional problem with binary outcomes. Defining the security of a system is an incredibly complex task, but with rigorous models, designs and engineering practices, we can build systems that stand up to the worst attacks. Axelar security is powered by a combination of: ✔️ Proof-of-stake decentralized design at the core. ✔️ Novel quadratic voting mechanism ✔️Validator security policies, such as mandatory key rotations. ✔️ Mitigation of malicious interconnected chains. ✔️ Contract limits with amounts over a time period. ✔️ Rigorous audits & bug bounties. To read more about Axelar's robust security, please visit: https://axelar.network/blog/security-at-axelar-core