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Squid
Cross-chain swap aggregator routing tokens across 100+ EVM and non-EVM blockchains
4.4/ 5
Our score
Very good
Design
Aggregator
Chains supported
100
Typical fee
0% on stablecoin swaps; variable route and gas fees
Typical transfer time
5s
Security model
Depends on the underlying route
Audited
Yes
What is Squid?
Squid is a cross-chain liquidity router and aggregation protocol that enables token swaps across more than 100 blockchains and 20,000 assets in a single transaction. The protocol combines decentralized exchange aggregation with intent-based execution to coordinate transfers between EVM networks, Cosmos, Solana, Bitcoin, and XRPL without requiring manual multi-hop bridging.
Team and backing
The protocol operates through Squid (BVI) Ltd, based in the British Virgin Islands, and originally emerged from the Axelar ecosystem in 2022. Squid raised a $4 million seed round led by Polychain Capital, followed by a $6 million strategic funding round in May 2026 led by North Island Ventures, with participation from Ripple, Dialectic, Borderless, and Scenius Capital.
How cross-chain routing works
Squid aggregates liquidity across more than 130 decentralized exchanges alongside cross-chain transport layers such as Axelar, CCTP, IBC, and LayerZero. Rather than using a single lock-and-mint bridge, the Squid Intents engine employs an off-chain Request for Quote auction where competitive market makers and solvers fulfill swaps. This intent framework uses Trusted Execution Environments to process fills in roughly five seconds, settling destination funds as native assets rather than wrapped tokens.
Pricing and access
Squid charges a 0% protocol fee on stablecoin-to-stablecoin swaps. Non-stablecoin routes include variable routing fees and network gas costs, which the interface calculates and displays prior to signing.
Track record and ecosystem risks
Since launching its public platform in January 2023, Squid has routed over $6 billion across more than 4 million transactions for 1 million users. The protocol powers cross-chain bridging inside over 1,000 applications, including MetaMask, Ledger, and Celo's MiniPay. In August 2026, the project launched its native utility and staking token, QUID, on Base following a public sale on Legion and Kraken. Squid reports 9 security audits across its contracts. Despite zero reported smart contract exploits, users remain exposed to solver fulfillment risks, temporary liquidity imbalances across volatile pairs, and underlying validator security on third-party bridge protocols like Axelar.
Best for:Non-EVM to EVM token tradersDeFi users moving stablecoins fee-freeDevelopers embedding cross-chain swap widgetsUsers swapping without wrapped assets
Pros and cons
Pros
- Routes across 100+ chains including non-EVM networks like Solana, XRPL, and Cosmos
- Zero protocol fees charged on stablecoin swaps
- Executes swaps in native tokens without issuing wrapped assets
- Completed 9 security audits with no historical protocol exploits
Cons
- Variable routing fees apply to non-stablecoin token swaps
- Security depends on multiple third-party bridges and solver networks
- Potential for slippage or execution delays during extreme liquidity shortfalls
Our review
4.4/5
Very good
Squid delivers fast, low-cost cross-chain swaps across more than 100 chains via competitive solvers, but route security varies depending on the specific bridges and protocols chosen.
Squid operates as a cross-chain liquidity router and intent-based execution engine, routing trades across more than 100 blockchains and 20,000 tokens. Originally incubated within the Axelar ecosystem in 2022 and launched in January 2023, Squid has processed over $6 billion in cumulative volume across four million transactions for more than one million users. Its corporate entity, Squid (BVI) Ltd, raised $4 million led by Polychain Capital followed by a $6 million strategic round in May 2026 led by North Island Ventures, with backing from Ripple, Borderless, and Dialectic.
The platform aggregates messaging protocols and bridge layers, including Axelar, CCTP, IBC, Chainflip, and LayerZero, while pairing them with 130 decentralised exchanges. Its primary strength lies in its Squid Intents engine. Rather than locking assets into vulnerable bridge contracts on every chain, the protocol runs off-chain Request-for-Quote (RFQ) auctions where market makers fill trades in seconds. Settlements rely on Trusted Execution Environments (TEEs) and simple token transfers. Cross-chain swaps typically settle in around five seconds, and Squid charges zero protocol fees on stablecoin swaps.
However, this aggregation model introduces distinct trade-offs:
- Security is not uniform, as transactions inherit the trust assumptions, light clients, or multisigs of whatever underlying route or DEX is selected.
- Off-chain solver settlement introduces dependence on private solver liquidity and TEE coordination mechanisms.
- Fees and spreads on exotic, non-stablecoin token pairs vary widely based on available off-chain inventory and destination chain gas.
The protocol has completed nine smart contract audits and reports zero exploits to date. Squid suits traders and multi-chain DeFi users needing direct swaps between disjointed ecosystems like EVM networks, Cosmos, Solana, XRPL, and Bitcoin. Users seeking purely canonical, governance-free native asset transfers across one specific layer should look to direct rollup bridges instead.
Specs
| Design | Aggregator |
|---|---|
| Chains | Ethereum, BNB Chain, Arbitrum, Base, Optimism, Polygon, Avalanche, Cosmos, Other |
| Chains supported | 100 · unverified |
| Typical fee | 0% on stablecoin swaps; variable route and gas fees · unverified |
| Typical transfer time | 5s · unverified |
| Security model | Depends on the underlying route |
| Audited | Yes · unverified |
| Token | QUID · unverified |
| Intent-based | Yes · unverified |
| Native token transfers (no wrapped tokens) | Yes · unverified |
Not disclosed by the provider: KYC required, Max transfer.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Intent-based RFQ execution
Competitive off-chain solvers bid on swap routes using Trusted Execution Environments, settling transactions in roughly five seconds.
Multi-ecosystem coverage
Routes transactions across 100+ networks including Ethereum, Solana, Bitcoin, Cosmos, XRPL, Hedera, Stellar, and Base.
Zero-fee stablecoin transfers
Swaps between stablecoin assets carry a 0% Squid protocol fee, charging only the required network gas.
Decentralized exchange aggregation
Pools liquidity across more than 130 DEXs to execute single-step trades across 20,000 supported tokens.
Developer integration tools
Provides REST APIs, TypeScript SDKs, and drop-in widgets with customizable pre- and post-transaction execution hooks.
AI swap execution
Features a Model Context Protocol server enabling users to initiate cross-chain swaps directly through AI desktop assistants.
Inside Squid
Bridge & Swap App
The web interface at app.squidrouter.com allows users to bridge and swap between more than 20,000 tokens across 100 networks in a single transaction.
Squid Intents
An execution architecture using off-chain Request-for-Quote auctions and solvers to deliver sub-second routing and five-second cross-chain settlements.
Developer Tools (API, SDK & Widget)
Integration tools that let third-party applications embed cross-chain swapping with custom execution hooks and fee monetisation options.
Squid Connect
An onboarding layer that allows emerging networks, private chains, and token issuers to connect their liquidity to Squid's ecosystem.
Squid MCP
A Model Context Protocol server enabling users to execute EVM cross-chain swaps directly through AI assistants like Claude.
QUID Staking
A staking interface on the Base network designed for holding and locking native QUID tokens for platform utility.
Squid screenshots
What users say about Squid
The platform offers broad chain support and an accessible interface for cross-chain swaps.
In their own words
“If it’s EVM chains, Matcha.xyz is nice. For more exotic chain support, I use Squidrouter.com.”
“I've been using Squid Router for quite a while because it's straightforward and pretty comprehensive”
Based on 7 Reddit posts and comments from the last 12 months, checked Oct 20, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Squid? Share your experience below.
Funding and investors
$10MTotal raised
2Rounds
2Investors
FAQ
What fees does Squid charge for cross-chain swaps?
Squid charges zero protocol fees on stablecoin swaps. Fees on other tokens vary by route and are displayed alongside network gas before confirming a transaction.
Has Squid been audited, and has it ever been hacked?
Squid has undergone nine security audits and has experienced zero security exploits across more than $6 billion in routed volume since its 2023 launch.
Does Squid have its own token?
Yes, Squid operates the QUID token, which launched on Base in August 2026 for staking, engagement, and platform utility.
Which blockchains does Squid support?
Squid supports more than 100 blockchains, including Ethereum, Solana, Bitcoin, Arbitrum, Base, Avalanche, Cosmos, Sui, XRPL, Stellar, and Hedera.
What is the difference between Squid and a standard cross-chain bridge?
A standard bridge typically wraps a single asset between two chains, while Squid aggregates bridges and 130 DEXs to execute token-to-token swaps between different networks in one step.
Latest from Squid on X
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Look out for founder Fig this week at @RippleSwell (he's the tall one)
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There's never been more to money.
Stablecoins, tokens, RWAs, stocks, commodities, and even more.
Accessibility is great, but it can also be difficult to navigate. Squid is here to help: from our upcoming mobile app, to our ongoing series.
Check out The State of Money 👇
Stablecoins, tokens, RWAs, stocks, commodities, and even more.
Accessibility is great, but it can also be difficult to navigate. Squid is here to help: from our upcoming mobile app, to our ongoing series.
Check out The State of Money 👇
Recent public posts from @squidrouter, shown as published. Not reviewed or endorsed by CryptoReview.
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