According to Coincu, decentralized financial derivatives marketplace dYdX has integrated Axelar's cross-chain infrastructure to improve its user experience. The integration aims to streamline onboarding and offboarding processes for users accessing dYdX v4. A key component of this integration is Squid, a fast cross-chain transaction builder built on Axelar's decentralized interoperability infrastructure, capable of executing cross-chain swaps in under 20 seconds.
dYdX has consistently adopted innovative blockchain technologies to cater to traders' needs, such as being early adopters of Starkware's rollup technology. With dYdX v4, they are taking an independent app-chain approach, essential given the high leverage and risk associated with derivatives exchanges. The integration with Axelar's interoperability network and the use of Squid will enable users to easily transition between various blockchain environments, including rollups, Ethereum Layer 1, other app-chains, and centralized exchanges, with a single click.
This initiative highlights dYdX's commitment to achieving a maximally decentralized marketplace, ensuring uptime, and protecting against manipulation in derivatives trading. With the adoption of Squid and Axelar's interoperability solution, dYdX aims to provide a flexible, fast, and user-friendly experience for its diverse user base. Users can now use Squid's API to access one-click onboarding and offboarding capabilities to and from its app-chain, regardless of their originating blockchain environment. This includes the ability to directly deposit funds from other exchanges, including centralized ones, into their dYdX accounts with a simple one-click process, powered by Squid.
