Squid Documentation
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Liquidity model
Squid supports swapping any to any token across all the chains it supports, utilising existing liquidity.
Squid routes all its transactions through axlUSDC/USDC stable swaps pools, and USDC/native token pools on standard AMMs.
This leverages the already deep liquidity between native USDC and nearly all tokens in crypto, and minimises the number of liquidity pools which need to be capitalised to achieve efficient liquidity across every token.
Every swap using Squid is a combination of the below:
  1. 1.
    Swap ERC20 --> native USDC (Uniswap or equiv)
  2. 2.
    Swap native USDC --> axlUSDC (Curve or equiv)
  3. 3.
    Bridge axlUSDC --> axlUSDC
  4. 4.
    Swap native USDC --> axlUSDC (Curve or equiv)
  5. 5.
    Swap ERC20 --> native USDC (Uniswap or equiv)
Depending on the input or output desired, Squid will build and execute a selection of the above steps (in order).
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