Primex partners with Squid

Published on: 08.05.2024
Primex partners with Squid

Primex partners with Squid Router a liquidity and messaging router powered by the Web3 interoperability platform Axelar Network.

With the live widget, users can now transfer their tokens between one of the over 60 supported EVM and Cosmos chains to use them on the protocol.

Axelar is a Web3 interoperability blockchain that facilitates cross-chain communication between more than 60 EVM and Cosmos chains in a flexible and programmable manner. Through smart contract capabilities, developers can swiftly deploy across the cross-chain network to all compatible chains within 10 seconds, attracting ten times the number of active users compared to other popular Web3 environments.

In addition to being programmable, Axelar is scalable and secure. When it comes to security, the blockchain employs the Proof-of-Stake (PoS) consensus mechanism for validation and reduces risks through advanced topology and application-layer measures such as rate limits.

Dev teams can use Axelar’s cross-chain communication for seamless user experiences. The Interchain Token Service (ITS) and Axelar Virtual Machine (AVM) enable ERC-20 tokens to be bridged across blockchains while maintaining their qualities.

ENTERING THE SQUID ROUTER

Powered by Axelar, Squid is a liquidity and messaging router. The service allows users to swap any token between EVM and Cosmos chains, unlocking access to dApps across blockchains in one click.

Developers find Squid valuable for its capability to design smooth user experiences by utilizing cross-chain liquidity from various DEXs and expanding accessibility to all crypto wallet users, irrespective of their blockchain. By utilizing Axelar’s throughput, security, and dependability, the router facilitates cross-chain swaps.

Bridge Tokens Across Chains with Squid’s Widget on Primex

Primex has integrated Squid’s widget, which enables users to seamlessly move assets between over 60 supported chains and utilize them on the protocol in a trustless way.

Token Bridge Guidelines

  • To bridge tokens via the Squid widget, open the Primex app and connect your wallet to the protocol using one of the available options
  • After that, select “Transfer via Squid powered by Axelar” and click the “Bridge” button next to it.
  • On the next screen, connect your wallet to the service, select the source and destination blockchains (please note that Primex currently is deployed onto Ethereum, Arbitrum, and Polygon), the asset, and the amount, and initiate the transaction.
  • Make sure to confirm the transaction via your wallet. After a couple of confirmations, your assets will be bridged to the destination chain so you can use them to lend or trade on Primex!

Primex Finance is a non-custodial prime brokerage protocol that enables the use of lender liquidity for leverage across other DeFi protocols to amplify yield, the uses cases include leveraged LPing, spot trading on DEXs, liquid staking and more.

FOLLOW Primex Finance

Website | X

FOLLOW Squid Router

Website | X

RESOURCES

Primex Finance

REQUEST AN ARTICLE
Market Stats:
BTC Dominance: 54.02%(+0.07%/24h)
ETH Dominance: 18.26%(-0.04%/24h)
Defi Market Cap: $88.58B(-10.08%/24h)
Total Market Cap: $2345.87B(0.00%/24h)
Total Trading Volume 24h: $47.48B(-30.38%/24h)
ETH Market Cap: $428.22B
Defi to ETH Ratio: 20.69%
Defi Dominance: 3.59%
Altcoin Market Cap: $1078.59B
Altcoin Volume 24h: $31.37B
Total Cryptocurrencies: 30351
Active Cryptocurrencies: 10122
Active Market Pairs: 82865
Active Exchanges: 782
Total Exchanges: 8739
BTC: 64279.59$(0.04%/1H)
ETH: 3503.14$(0.13%/1H)
AVAX: 25.95$(0.91%/1H)
BNB: 586.77$(0.03%/1H)
MATIC: 0.57$(0.58%/1H)
FTM: 0.59$(1.21%/1H)
ADA: 0.39$(0.79%/1H)
DOT: 5.78$(-0.28%/1H)
UNI: 9.95$(-0.17%/1H)
CAKE: 2.23$(0.07%/1H)
SUSHI: 0.81$(0.66%/1H)
ONE: 0.02$(0.26%/1H)