Bankless Squid with Fig | ETHDenver 2023 Interview #5
Mar 9, 2023
Dive into the future of blockchain as Fig discusses Squid, a cutting-edge cross-chain swap protocol. Discover how Squid tackles the longstanding issue of interoperability and compares to previous solutions. The fascinating concept of modular architecture is spotlighted, showing promise for enhanced security and liquidity. Plus, learn about innovations like gasless transactions that aim to simplify user experiences in the DeFi landscape. The conversation is a treasure trove for crypto enthusiasts eager to understand what's next!
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Squid's Functionality
- Squid is a cross-chain swap protocol built on Axelar, enabling swaps between any tokens on different chains.
- It leverages Axelar's general message passing for cross-chain contract calls and swaps, expanding interoperability.
Squid's Modularity
- Squid's modularity sets it apart, composing existing liquidity across chains instead of holding its own.
- This allows integration with various DEXs and expands functionalities beyond simple token swaps, enabling NFT purchases and staking.
Squid's Scope
- Squid aggregates cross-chain liquidity like Bungie and Li.Fi, but extends to broader ecosystem applications and logic.
- Using Axelar exclusively enhances reliability and allows for features like deposit addresses for complex actions from centralized exchanges.