Squid Protocol Expands Solana Integration Through Chainflip

• Squid Protocol makes it easy to connect Solana to larger ecosystems.
• New integration expands access to Cosmos TVL.
• $300M inflows reinforce Solana’s memecoin appeal.

Squid Protocol, a widely recognized cross-chain bridge connecting over 78 EVM-based and Cosmos-based networks, has revealed a new integration with Chainflip, a cross-chain AMM. The expansion promises to transform Solana’s interoperability by enabling more direct and streamlined interactions with a variety of networks, including Cosmos, PolkaDot, and Bitcoin.

Squid and Chainflip have officially united 👑

Solana and Bitcoin are now live on Squid!

Bridge to Solana, Bitcoin, Ethereum, and (soon) Cosmos. Swap from any chain to native SOL and BTC. Instantly access 4 ecosystems and 80+ chains all in☝️ place. pic.twitter.com/wdXvAJMt71

— squid (@squidrouter) December 20, 2024

This initiative aims to solve a long-standing challenge faced by users: the complexity of transferring assets between different blockchain ecosystems. Previously, this process relied on centralized intermediaries or multiple decentralized platforms, resulting in a fragmented flow of transactions. Now, with the support of Chainflip, Squid Protocol integrates these connections into a single service, bringing greater efficiency and accessibility.

New opportunities for Solana and Cosmos
The integration between Squid Protocol and Chainflip establishes a strategic bridge between Solana and the Cosmos ecosystem, strengthening liquidity flows and promoting connectivity between decentralized networks. Additionally, interoperability barriers between PolkaDot, Bitcoin, and other blockchains have been reduced, further expanding the reach of the Solana network.

According to the announcement, asset transfers from Cosmos-based networks such as Celestia and Injective can now be seamlessly completed via Axelar and Cosmos IBC, completing the journey from Chainflip to Solana. With this, Squid Protocol eliminates the need for multiple tools, unifying the process into just one click.

This expansion also opens the door to accessing the Cosmos ecosystem’s total value locked (TVL), which exceeds $2 billion, according to data from DeFiLlama. Influential networks such as Thorchain, Cronos Chain and dYdX are among those benefiting, while Solana, with its high on-chain trading volumes, is positioning itself as an attractive destination for new capital inflows.

At the time of publication, the price of Solana was listed at US$190,59 with a drop of 1.6% in the last 24 hours.

Solana records significant capital increase
In recent weeks, Solana has seen an influx of over $300 million in liquidity. Much of this capital, around 88%, has come from the Ethereum network, according to data from Artemis. This movement is linked to the growing interest in memecoins on the Solana blockchain and the anticipation of the launch of $PENGU, the Pudgy Penguins token.