Squid offers asset-to-asset cross-chain swaps with the click of a button. For the user, the process is simple; however, behind the scenes Squid leverages DEX swaps in order to transfer these assets.

On a source and destination basis, what are the most popular DEXs used by Squid?

This dashboard is used to find out the most popular DEXs used by the Squid Bridge. This analysis is divided into the following parts:

• Activity of Squid since its launch
• Popular DEXs on each network including Ethereum, Polygon, Arbitrum, Binance and Avalanche
• The most used assets to swap on these DEXs by Squid determined too
• Conclusion and useful links

Axelar network is a scalable cross-chain communication platform. Blockchain platform builders can use it to seamlessly plug-in their blockchains to all other blockchain ecosystems. Application developers can choose the best blockchain to host their applications and use Axelar’s cross-chain communication protocols to lock, unlock, and transfer assets, as well as communicate with applications on any other chain. By connecting dapps with multiple blockchain ecosystems, the Axelar platform empowers users to interact with all applications across the ecosystem directly from their wallets.

The Axelar network serves as the infrastructure for inter-chain exchanges. Axelar acts as both a bridge and a platform for cross-chain communication between smart contract protocols. Axelar bridging makes it possible to send tokens across different blockchains, while Axelar second feature allows decentralized applications to run on different networks.

Squid is the cross-chain swap and liquidity routing protocol on Axelar Network.

Squid utilises existing DEXs to swap and send any native token between chains. This can be done via our SDK, Front End or Contracts directly.

Swaps are composable with Axelar's generalised message passing, so Squid can enable one-click transactions between any application and any user, using any asset.

The data provided by Flipside has been used to handle this analysis.

• In this investigation, the transactions of the axelar.core.ez_squid table has been selected. Then by the use of these transactions and based on the core.fact_token_transfers and core.dim_labels tables, the most popular DEXs and assets have been determined.

• The Ethereum, Polygon, Arbitrum, Binance, and Avalanche chains have been used to find out the popular DEXs and swapped assets.

• The used metrics to handle this investigation are based on the Volume, swaps, and unique swappers of the popular DEXs and swapped assets.

• Additionally, the overall and overtime analysis related to the popular DEXs and swapped assets are investigated.

• Finally, a conclusion is drawn based on the consequences of the previous parts.