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Investment Thesis - Axelar is considered undervalued, especially given its role in the XRP EVM sidechain and its potential for significant growth [8][9] - The project is primed for a massive move, with potential for a 10x increase based on its fully diluted value [2][3] - The current chart is viewed as extremely bullish, with potential for a 600% upside push to retest 2024 highs [7][6] Technology and Ecosystem - Axelar enables a crucial piece of the EVM side chain for XRP, a project with a market cap of $20+ billion [8] - Axelar burns 98% of Axelar fees and locks tokens, potentially leading to deflationary tokenomics [11][16] - The ecosystem is extensive, with integrations across numerous projects and over 80 chains [12][15] Partnerships and Use Cases - Axelar is a core platform linking XRP Ledger to the world, enabling interoperability and asset transfers [17][18] - The interchain token service is a huge enabler for tokenization, working with institutional players like Deutsche Bank [24] - Axelar is working with asset issuers, tokenization platforms, custodians, major banks, and enterprises [28] Tokenomics - Axelar has a total supply of 12 billion tokens, with 1 billion circulating [9] - Concerns about token unlocks are mitigated by the fact that unlocks are fractions of the actual supply and Axelar burns a significant portion of fees [10][11] - Unlocked circulating supply is 7928 million, with the next unlock scheduled for August 21st [10]