Chainflip Partners with Axelar and Squid to Expand DeFi to New Assets

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Hong Kong SAR, Hong Kong SAR, 7th February, 2023, Chainwire

Chainflip, the cross-chain DEX set for launch in mid-2023, has initiated its partnership programme and unveiled plans to create a two-way integration between Chainflip and Squid, the recently launched cross-chain token swapping service. This partnership will bring users of both Chainflip and Squid even greater access to cross-chain swaps between a wider variety of blockchains, powered by Axelar.

The first task in this new partnership consists of looking to develop a mutual web-interface integration that will see web apps built for each of Chainflip and Squid supporting the other, aggregating swaps to chains that the other cannot yet support.

As an example of what this might look like, users of Squid and other Axelar ecosystem products will be able to swap native BTC through the Squid web interface by routing at least part of the swap through the Chainflip protocol. Similarly, users will be able to swap assets on one of the many Ethereum chains supported by Axelar and Squid when using the main Chainflip web interface. 

This collaboration is designed to make it as easy as possible for builders to create the experiences that they are imagining without having to learn and develop multiple standards to access as many chains as possible.

Chainflip CEO Simon Harman said, “This two-way integration between Chainflip and Squid will greatly improve both pricing and access to more assets for users of both products, and is a huge step forward in making cross-chain products much more competitive. We think it’s vital that like-minded