Algorithmic / under-collateralized stablecoin
Axelar Network's assessment for RD-F-069 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Factor applies to algorithmic/under-collateralized stablecoin issuers. Axelar does not issue a stablecoin. AXL is a PoS staking/gas token. axlUSDC and axlUSDT are wrapped/bridged representations backed 1:1 by locked assets in the gateway escrow — not algorithmic designs. PD-024 directs not_applicable for non-stablecoin-issuer protocols.
Sources #
- DocsAxelar axlUSDC documentationaxlUSDC: 'for each unit of axlUSDC, there is a unit of USDC locked in an Axelar Gateway on Ethereum' — 1:1 backed, not algorithmicretrieved 2026-05-17
Methodology #
Classify whether the protocol is an algorithmic or under-collateralized stablecoin design per curator classification.
See the full factor methodology and distribution across all protocols →
rubric_version v1.7.0 protocol axelar factor RD-F-069 score not_applicable collected_at 2026-05-16 21:57:49