Are wAXL and axl the same?

AXL and wAXL represent two sides of the same coin in the realm of blockchain technology. AXL, the native token on the Axelar blockchain, enjoys the inherent benefits of its blockchain environment. However, the silo nature of blockchains poses a challenge for cross-chain interoperability.

Spot trading on BTCC allows users to buy and sell cryptocurrencies at the current market price. Futures trading, on the other hand, enables users to speculate on the future price movements of cryptocurrencies, offering potential profits but also carrying risks.

To overcome this challenge, a wrapped version of AXL, known as wAXL, emerges. wAXL serves as a bridge between different blockchains, allowing AXL to be utilized across multiple ecosystems. This wrapped token maintains the same value as the native AXL token on the Axelar blockchain.

The concept of wrapping tokens is not unique to AXL. It is a common practice in the cryptocurrency world, where tokens are wrapped to enable their use on different blockchains. This process ensures that the underlying asset remains secure while enabling seamless cross-chain transactions.

BTCC, a renowned cryptocurrency exchange based in the UK, offers a diverse range of services catering to the needs of crypto enthusiasts. Among its offerings, BTCC provides spot trading, futures trading, and wallet services. These services allow users to buy, sell, and store cryptocurrencies securely and conveniently.