Fig: Squid Router – Sub-20 Second Cross-Chain Swaps. Axelar-Powered Interoperability
As crypto evolves, it becomes clearer that the future will be multi-chain. Presently, moving funds between different blockchains is frustrating...to say the least. The current bridging solutions are prohibitive from a UX perspective, mainly due to how finality is reached across different blockchains. This translates to long wait times and anxiety when interacting with new protocols, caused by the incertitude of funds arriving safely on the other side. Another major blockage consists of gas fees, particular to each blockchain, which often require an additional swap. But what if, users could enjoy near-instant cross-chain swaps (sub-20 second) and one-click transaction aggregators?
We were joined by Fig, co-founder of Squid Router, to discuss how they leverage Axelar's infrastructure to achieve one-click, near-instant cross-chain swaps, creating user-friendly interoperability.
Topics discussed in this episode:
0:00 - Introduction
0:22 - Fig’s background
3:50 - How Squid tackles interoperability
7:03 - Building a better DevEx & UX on top of Axelar’s security
12:05 - Choosing what DEXes to wrap & aggregate in Squid
18:55 - Optimising gas fees, prices & MEV cross-chain
24:09 - Squid’s business model
27:11 - Integrating other messaging protocols
30:15 - Addressing finality to reduce swap times below 20 seconds
37:04 - How Squid x Axelar solve other bridging protocol issues (e.g. multichain hack)
41:39 - Squid use cases
Links mentioned in this episode:
Fig on Twitter: bit.ly/45LBdFV
Squid on Twitter: bit.ly/3C90PPK
Axelar on Twitter: bit.ly/3OSb9mC
This episode is hosted by Felix Lutsch. Show notes and listening options: https://epicenter.tv/498