Primex integrates Squid for cross-chain token transfers

Primex has incorporated Squid, wherein users will be provided the option of shifting their tokens, selecting one amongst 60 backed EVM and Cosmos chains. This will be utilized in the protocol. 

Axelar is a Web3 interoperability blockchain linking and allowing cross-chain messaging amongst more than sixty EVM and Cosmos chains in the fashion of being permissionless and programmable. Having the backing of smart contracts, the platform enables builders to position every backed chain swiftly from the cross-chain stack and connect with a multitude of users. 

Other than the fact that it can be programmed, Axelar also comes with upgradable and safety properties, for which it uses the proof of stake (PoS) consensus system for authenticating and preventing risk factors through advanced topology and application-based strategies. 

Along with all of this, builders will benefit from Axelar’s cross-chain communication when creating UXs. Users about the projects will then be able to connect with every asset, dApp, and on-chain via a sole tap. 

A prime attribute of the ecosystem is the interchain token solution (ITS) that utilizes the Axelar Virtual Machine (AVM) and interchain token for linking ERC-20 token throughout various blockchains. 

Boosted by Axelar, Squid is a liquidity and messaging router. The solution allows users to swap every token amongst EVM and Cosmos chains, offering connectivity with dApps throughout blockchains. 

In the case of builders, the main advantage obtained from Squid is the option of building a comfortable user exposure. This is achieved by utilizing cross-chain liquidity throughout DEXs and upgrading to connect with crypto wallets. 

Squid has witnessed over two hundred Web3 projects incorporating its liquidity and messaging router. It has routed over $1.4 billion in terms of volume till now. Primex has integrated Squid’s widget, allowing users to shift assets amongst sixty backed chains. 

Prime Finance is a non-custodial prime brokerage protocol that allows the utilization of lender liquidity throughout various DeFi protocols to increase yields. The Primex allows imposed trade on DEXs, such as Uniswap, Balancer, and more.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button