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Axelar Delegation Guide

Axelar is a secure cross-chain communication network built using Cosmos SDK. It seeks to bring interoperability and composability to web3 by connecting blockchain ecosystems, applications, assets and users. The base protocol reward rate is ~8% as of September 2022, with an incremental reward rate for every additional chain a validator supports. Coinbase Cloud’s validator is set up to perform additional work on the chain, positioning our delegators to earn a greater share of rewards. (Reward rates are set by the protocol foundation, and subject to change.)

To learn more about the network, visit our guide. To keep up with network insights and developer solutions, visit Coinbase Cloud. If you are a large token holder and would like to discuss specific delegation requirements, reach out to our team.

Coinbase Cloud public validators offer high-uptime, and are architected to minimize downtime and double-signing. You retain full control over your assets when you delegate with self-custody wallets on Coinbase Cloud.

  • Min delegation: > 0
  • Unbonding period: 7 days
  • Commission fee: 6%
  • Estimated APY: ~ 8% base with incremental rewards for every additional network a validator supports

Prerequisites

  • Keplr or Cosmostation wallet funded with native AXL.
    • To stake, you need native AXL on the Axelar blockchain. If you are purchasing your AXL from an exchange, read the listing information carefully. Some exchanges support the native token, while others list an ERC–20 representation which is usually wrapped AXL or wAXL. To learn more about how AXL is represented on other chains, see What Is wAXL?.
    • If you hold the ERC-20 version of AXL (wAXL), you can convert your tokens to native AXL (AXL) via satellite.money. This process also requires an Ethereum wallet funded with the ERC-20 version of AXL. See more on this below.
  • Enough AXL to cover transaction fees. You can fund your wallet with native AXL by:
    • Purchasing native AXL directly from an exchange (once available) and sending it to your wallet.
    • Converting ERC-20 AXL to native AXL via satellite.money.

Notes

  • Delegators may earn more by staking tokens to a validator that earns a higher share of network rewards.
  • Rewards are distributed to validators and paid out to delegators by validators every block (~6 seconds).
  • Delegators need to claim and restake rewards manually to receive compounding rewards.
  • Unbonding your tokens incurs gas fees.

Links to Instructions


Disclaimer

This document and the information contained herein is not a recommendation or endorsement of any digital asset, protocol, network, or project. However, Coinbase may have, or may in the future have, a significant financial interest in, and may receive compensation for services related to one or more of the digital assets, protocols, networks, entities, projects, and/or ventures discussed herein. The risk of loss in cryptocurrency, including staking, can be substantial and nothing herein is intended to be a guarantee against the possibility of loss.This document and the content contained herein are based on information which is believed to be reliable and has been obtained from sources believed to be reliable, but Coinbase makes no representation or warranty, express, or implied, as to the fairness, accuracy, adequacy, reasonableness, or completeness of such information, and, without limiting the foregoing or anything else in this disclaimer, all information provided herein is subject to modification by the underlying protocol network. Any use of Coinbase’s services may be contingent on completion of Coinbase’s onboarding process and is Coinbase’s sole discretion, including entrance into applicable legal documentation and will be, at all times, subject to and governed by Coinbase’s policies, including without limitation, its terms of service and privacy policy, as may be amended from time to time.