PANews reported on March 11 that according to The Block, the Axelar Foundation has announced a strategic AXL token sale worth $30 million. The foundation said on Tuesday that several cryptocurrency investors participated in the token sale, including Arrington Capital, Distributed Global, Electric Capital, Laser Digital, C² Ventures, Plassa Capital and Wagmi Ventures. However, the foundation declined to disclose the sale price or valuation of the AXL token. The Axelar Foundation plans to expand the use of the US dollar through stablecoins and support the institutional tokenization of real-world assets (RWA) through its interoperability protocol.
A spokesperson for the foundation said the investments were made “in recent months.” “Part of the investment involved the purchase of unlocked AXL tokens from the Axelar Foundation’s community project quota, which will be subject to a new round of lock-up periods ranging from six to twelve months.” This means that the Axelar Foundation was not the only seller in the transaction. The spokesperson declined to identify the other sellers. Other sellers may have facilitated the transaction through over-the-counter (OTC) transactions, where investors acquired AXL tokens that were already in circulation.
According to a spokesperson for the foundation, the latest $30 million investment announced by the Axelar Foundation adds to the $100 million previously raised through multiple rounds of financing and a public token sale, further increasing its total investment.
