About Squid

Powered by Axelar's General Message Passing, some developers build Squid bridge. One of the usecases of Squid is that you can bridge ETH from ethereum, and get USDT on Avalanche!

These innovations help defi to get more users by making actions easier. Right now, Squid only supports some of the EVM chains, but they are gonna add more chains, specially Cosmos based blockchains!

Squid twitter

Methodology

In this article you are gonna see a lot of details about squid bridge. But what details?

1. Total and daily volume of Squid on 5 chains

2. Total and daily count of transactions of Squid on 5 chains

3. Total and daily count of squid users on 5 chain

4. And in the end, a comparison between squid and satellite, and loyality of satellite users.

What are those 5 chains? hmmm... Currently, Squid supports 7 blockchains, but flipside only support 4 of them(Polygon, Ethereum, BSC, and Avalanche).

So what is the fifth chain? it's Arbitrum! Squid doesn't support Arbitrum in its interface, but i found some activity via squid contract on Arbitrum(like this one), so i included it too! you can ignore it if you want.

Some of the chains doesn't have good tables for prices(ther is no table for prices/tokens are not available etc...), So i only encluded stable coins and native coins of each blockchain. Almost all transactions have these coins/tokens, so it's accurate!

All data are from first of the 2023 until now. Squid only supports EVMs right now, so for better comparing, I only encluded EVM details of satellite.