Squid V2 vs Squid V1

Squid V2 introduces several improvements over V1, such as enhanced performance, reduced slippage, faster routing, and same-chain swaps.

Squid V2 Advantages

Performance and Efficiency

  • Faster Routing: Squid V2 accelerates transaction speeds and improves reliability through optimized routing and enhanced liquidity management.

  • Same Chain Swaps: Squid V2 supports swaps within the same blockchain, increasing efficiency and reducing transaction costs.

  • Faster API Response Times: Experience quicker and more responsive interactions with the Squid API.

  • More Intelligent Routing: Squid V2 leverages more sophisticated routing algorithms to ensure the best rates. For example, ETH:ETH routing via FraxETH ensures optimal rates for moving your ETH around or bridging ETH between rollups.

Flexibility and Scalability

  • More Routes: Squid V2 integrates with a larger number of decentralized exchanges (DEXs), enabling users to execute swaps with greater flexibility and efficiency.

  • More Modularity and Scalability: The protocol's architecture allows for the addition of new bridges, such as CCTP and Chainflip, enhancing its scalability.

  • Enhanced Pre & Post Hooks: Utilize hooks to enable advanced functionalities like buying NFTs and staking directly within transactions.

Enhanced Functionality

  • Axelar ITS Tokens: Support for Axelar Interchain Transfer System (ITS) tokens.

  • Better Rates on Popular Assets: Enjoy improved rates on stablecoins and gas tokens.

  • Advanced Security Measures: Squid V2 includes improved security features, such as enhanced contract audits and security checks, ensuring safer transactions across the platform.

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