We are thrilled to announce our participation in Squid’s Seed Round, led by North Island Ventures with support from Distributed Global, Fabric Ventures, Galileo, Node Capital, and a collection of strong angels.
Squid lets its users swap and transfer tokens between blockchains and buy NFTs on any chain with any currency. With just one click on your preferred wallet, you can effortlessly swap tokens from Ethereum to Polygon, buy an NFT on Avalanche from Arbitrum, and access value on various application-chains, amongst other actions.
At Chapter One, we believe connecting blockchains together is the future of decentralized finance and the route toward opening its value to mass consumer use. Cross-chain infrastructure and interoperable protocols free users from being limited to applications or opportunities on one blockchain alone and will hasten the adoption of protocols and services that are more bespoke, specialized, and molded towards specific consumer needs and problems.
The key here is the shift away from Ethereum, a trend already visible across the market. Ethereum's share of total locked value in DeFi dropped to 60% in 2023 from 96% in 2020, highlighting the importance of interoperability in expanding the reach and accessibility of DeFi.
As a liquidity and messaging router, Squid will play an essential role in this transition by unlocking liquidity and applications between blockchains – ultimately driving cross-chain adoption and advancements that we envision.
Squid’s technology is accessible through API and SDK, and can be integrated into any decentralized exchange or wallet. Decentralized exchanges such as QuickSwap, Pangolin, SpookySwap, and Trisolaris have announced their integration with Squid, and wallet partners include BitKeep.
Squid’s mainnet launch supports interoperability across 25 chains, including Ethereum, Binance Chain, Avalanche, Arbitrum, Polygon, Fantom, Celo, Cosmos Hub, Osmosis, among others.
Prior to founding Squid, Fig had a background in traditional finance, while Christina was the Head of Community and Ecosystem Development at Vega Protocol.
If you are a developer, decentralized exchange, or wallet looking to use or integrate cross-chain infrastructure, check out Squid’s website, swap tokens with their front-end application, read posts on their Medium, and follow Squid’s Twitter @squidrouter.