Duality and Squid Partner to Fix Cross-chain DeFi
Duality is excited to partner with Squid to enable cross-chain swaps. Overtime Squid and Duality will work together to abstract the complexities of blockchain from DeFi, solving some of crypto’s biggest UX problems.
The Future is One-Click
The future of DeFi user experiences is one-click. Manually bridging from chain to chain is exhausting for the majority of users, and turns them away from using other chains. Few teams understand this as much as Squid. While interoperability today is primarily basic token bridges, Squid is building something much more ambitious. Their goal is to allow users to access liquidity on any chain in one click.
Cross-Chain Swaps
While overtime this vision includes all of DeFi, it starts with cross-chain swaps.
Before if you wanted to buy ATOM with ETH on the Hub from an Ethereum rollup, the steps were :
- Locate the bridge and initiate a bridge transaction from the Rollup to Ethereum mainnet.
- Locate the bridge and initiate a bridge transaction from Ethereum to the Hub.
- Make sure you’re holding ATOM on the Hub already to pay for gas. If not buy ATOM on somewhere else and go through all of the steps of bridging it over.
- Swap the ETH for ATOM
With Squid, the user flow for a cross-chain swap looks like a single step :
- Swap the ETH for ATOM
This simplified flow could unlock a new wave of users for cross-chain DeFi, who were previously turned away by the complexity. By Duality integrating with Squid, liquidity on the ATOM Zone will be accessible from every Squid connected chain (Arbitrum, Optimism, Ethereum, Avalanche, Binance and more).
About Squid
Squid is a secure cross-chain router on Axelar Network that enables interoperability between blockchains and applications. Squid is easily integrated via their API, SDK, and front-end tools that facilitate fast and reliable single-click transactions and token transfers. Developers can use Squid to onboard users from any ecosystem and create scalable, seamless user experiences for anyone with a crypto wallet.
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About Duality
Duality Labs is building the fair, efficient markets of the future. With a novel mechanism design and incentive system, Duality is challenging the status quo of complicated, unsustainable DEXes, while fusing the best of AMMs and orderbooks.