CoinList ICO: Axelar + Registration Quiz Answers

Universal Connectivity for Web3

[Update 11 Mar 2022]: I was successful in this ICO. Posted a blog article sharing my experience of the queueing and purchasing process for the Axelar ICO on CoinList.

[Update 30 Jun 2022]: The distribution date for Axelar has been postponed to on or around September 14, 2022. In consideration of the delayed distributions, the initial distribution will unlock 5 months’ worth of tokens. Eligible users will receive the native Axelar token instead of the ERC-20 token, which will allow users to immediately stake and use the token on-chain.

ICO Registration Deadline:

  • 7 Mar 2022 at 18:00 UTC (8 Mar 2022 at 02:00 in Singapore)

There is only one option for this sale. The token sale will be on:

  • 9 Mar 2022 at 18:00 UTC (10 Mar 2022 at 02:00 in Singapore)
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Table of Contents

About Axelar

Axelar is the universal overlay network, securely connecting all blockchain ecosystems, applications, assets, and users to deliver Web3 interoperability.

Visit the CoinList sales page for more information on:

  • tokenomics
  • ecosystem
  • early investors
  • team


  • Axelar’s Universal Blockchain Interoperability Network Raises $35 Million to Reach $1 Billion Valuation [15 Feb 2022]
    • announced the closure of a $35 million USD funding round, with investments from Dragonfly Capital, Polychain Capital, North Island Ventures, Rockaway Blockchain Fund, Cygni Capital, Lemniscap, Olive Tree Capital, Blockchange Ventures, Node Capital, angel investors including Waikit Lau and Gokul Rajaram, and others.
    • this latest Series B funding round has brought Axelar’s valuation to $1 billion USD
    • follows on from the company’s previous $25m Series A raise in mid-2021.

AXL (ERC-20) Token

AXL is the native token of the Axelar Network. The AXL token supports four critical functions:

  • AXL is a medium for transaction fees and any other fees for network usage, paid by users to the validators that run the network.
  • AXL is used by holders and their proxies to deposit stake and exercise governance over proposals (ex. a parameter change or protocol upgrade).
  • AXL enables incentives to support the decentralized Proof-of-Stake consensus that secures the network and validates transactions on chain. Validators receive AXL rewards as incentives to continue to secure the network. These incentive rewards are distributed programmatically, per rules encoded in network protocols, and are inflationary, i.e., each protocol reward increases the total token supply.
  • AXL is used to reward ecosystem builders and community contributors.
  • At the Axelar genesis block, 1 billion AXL tokens in total will be issued.
  • An ERC-20 version of AXL will be sold in the CoinList token sale. The ERC-20 AXL can be swapped for native AXL tokens through Axelar’s demo application, Satellite, via a command-line interface on the Axelar network or via other upcoming front-end applications.
  • Early investors deal terms:
    • Seed: $0.028 [Sep 2020]
    • Series A: $0.213 [Jul 2021]
    • Series B: $1 [Jan 2022]

Notes on participating in CoinList ICOs

CAPTCHA after logging into CoinList on sale date

I once logged into CoinList about an hour prior to an ICO sale and left the countdown page idle.

When I went back to the browser tab after the sale started to check my queue number, I realised I had been timed-out because I did not complete a second CAPTCHA that appeared sometime during the countdown, and thus I did not manage to get a decent queue number.

Remember to check back on the browser tab a few minutes prior to the sale to confirm everything is fine.

Odds of getting allocated is very very very low

CoinList ICOs are very popular. Assuming there are 1.2 million registrations for this sale and 66,667 investors getting the chance to purchase, this works out to ~5.5% probability. The odds of staying up late (if you are in Singapore) to wait for the sale and ending up empty handed is awfully high.

Past ICO results

Visit this post to see how some previous CoinList ICOs are doing after they started trading on various exchange platforms.

Registration quiz answers

I have registered for the ICO and sharing the registration quiz answers in this blog post.

How many people will receive an allocation if everyone purchases at the maximum purchase limit?


What is the sale mechanism for the Axelar Token Sale?

Users in the waiting room will be given a random spot in the queue when the sale starts. Users who arrive after the sale starts will be placed behind those in the waiting room.

What is the lockup schedule for the tokens?

Tokens release on / around May 11, 2022, followed by a 9 mo linear release.

What currencies are accepted for payment in the sale?


What is the price per token and max purchase for the sale?

$1.00 per token, $750 limit.

What will happen if someone submits a purchase but doesn’t complete it?

The user’s purchase may be cancelled and the user may be banned from future CoinList sales.

Where will I be able to participate in the token sale?

Which is the only Telegram account for official CoinList announcements?


What happens to a user who uses bots or abuses the Queue-It system?

The user’s account will be terminated and all purchases will be cancelled.

Purchase details

If you received an allocation, your purchase will be confirmed when your deposit clears. If your deposit doesn’t clear immediately, that’s fine – you have until March 16, 23:59 UTC to finalize your purchase.

Please note that if you do not complete your purchase before March 16, 23:59 UTC, your purchase may be cancelled entirely and you may be banned from all future CoinList sales.

If you cancel your purchase after all allocations are sold, you may be banned from all future CoinList sales.

When will tokens be received?

Tokens unlock on/around May 11, 2022, followed by a 9 month linear release.



Started investing in crypto towards the end of 2020.