Squid has enabled swaps simultaneously across Ethereum, various Ethereum Virtual Machine blockchains and the Cosmos ecosystem.
Transferring assets between EVM and Cosmos blockchains can be complex due to their inherent incompatibility. Squid, which is built on the Axelar Network, seeks to address this issue.technology in conjunction with the IBC protocol. The combination enables the transport of both tokens and smart contract logic between the Cosmos and EVM ecosystems.
"By making cross-chain token swaps among both Cosmos and EVM blockchains trivial, Squid extends this vision of interoperability and lowers the barrier to economic collaboration across these ecosystems," said Fig, the pseudonymous co-founder of Squid. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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