Squid Protocol, the popular cross-chain bridge connecting over 78 EVMs and Cosmos-based networks, announced the expansion of Solana via Chainflip, a cross-chain AMM
thanks to this integration, Increased liquidity flows between #Solana and the #Cosmos ecosystem Prior to the Squid protocol extension, transferring funds between these sectors without authorization was complex and relied on centralized parties and multiple platforms
Cosmos ecosystem Beyond the system, the integration also removes barriers between the PolkaDot and #Bitcoin networks, improving Solana interoperability across the industry.
December 19, Squid Protocol, Solana, Bitcoin and Ethereum, announced an integration with Chainflip, the cross-chain AMM serving the PolkaDot network.
By incorporating ChainFlip into its existing product, Squid Protocol brings an additional layer of connectivity and liquidity to Solana.
For example, funds can be transferred from Cosmos-based networks such as Celestia and Injective to Squid Protocol via Axelar and Cosmos IBCs. Transfer and redirect funds to Solana via Chainflip. Previously, this path required the use of several different applications, but Squid Protocol brings all paths together in one click.
Squid Protocol's latest integration brings Solana and the vast Cosmos ecosystem closer together. The Cosmos ecosystem, which includes popular networks such as
Cronos #chain , Thorchain and dYdX, is currently worth over $2 billion in TVL, based on data from DeFiLlama.
If Squid Protocol incorporates Solana into its growing network, Cosmos traders may be tempted to move their money to Solana, which boasts higher transaction volumes on the chain and an objectively busier DeFi LINE_ market. BREAK After bitcoin's recovery to the $100,000 mark, market participants have become more risk averse and are returning to the iconic mimcoin economy Solana.
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