A brand new liquidity bridge has opened to Fraxtal, Frax's modular L2 network, as Squid Router is now live and supporting the network. Now you can move assets to and from 40 different networks powered by Axelar.
Squid Router enables fast transfers of larger token value sizes, and is now the most efficient way for you to bridge into Fraxtal other than the native Ethereum bridge. Go between your favorite networks to Fraxtal now with speed and security unmatched across DeFi.
Let's break down what this new bridge means and how to use it.
What is Fraxtal
Fraxtal is a modular rollup blockchain (L2) with a "fractal scaling" roadmap. It is set to leverage rollups technology, a layer 2 scaling solution, and will have multiple components and middleware for other chains and networks to use, connect to, deploy L3s, and build on top of. Additionally, it has a separate data availability module developed by the Frax Core Team. This makes it one of the most significant rollup releases of the year, according to Frax Founder Sam Kazemian.
What is Axelar
Axelar is a decentralized transport layer that provides secure cross-chain messages across Web3. It offers a uniform cross-chain messaging solution for developers and users, allowing developers to connect to EVM contracts on any chain without making modifications to their chains or UIs. Axelar's network connects over 50 blockchains, providing a secure, programmable network for global next-generation super apps. The platform aims to offer interoperability and connectivity across multiple ecosystems, allowing users and developers to interact and compose across different chains easily.
What is Squid Router?
Squid Router is a cross-chain liquidity layer based on the Axelar protocol. It allows for cross-chain bridging, enabling users to perform move networks in under 20 seconds. Squid Router allows users to swap any token between blockchains supported by Axelar Network. Developers can integrate Squid Router into their applications using an API, SDK, and front-end tools. This allows them to easily leverage Squid Router's functionalities to create a seamless cross-chain user experience.
How to Bridge to Fraxtal with Squid Router
- Go to https://app.squidrouter.com/
- Select your current network you want to bridge from, then choose Fraxtal in the "To" section.
- Choose the token and amount you want to send to Fraxtal.
- Press Submit and approve the two transactions
- Wait approximately 20 seconds and your transfer should be complete.
