Squid Router on The DeFi Drop

Guest: Fig, Co-Founder of Squid
Host: Edward Ward, Portals.fi

In this episode of The DeFi Drop, Edward Ward sits down with Fig, co-founder of Squid Router, to explore how the team is enabling seamless, programmable cross-chain actions. With over $5B in routed volume and more than 2.5 million transactions, Squid has quietly built the infrastructure that makes Web3 feel more like Web2.

"We want people to stop thinking about chains entirely. You should just see tokens."

From Medical School to Multi-Chain Routing

Fig’s journey to founding Squid started in an unexpected place: medical school. Disillusioned by the limitations imposed by regulation, he pivoted to tech. After pursuing design and finance, he saw how middlemen in traditional finance extracted value at every turn. This inefficiency pushed him toward crypto’s promise of transparency.

By 2021, Fig and co-founders Christina and Koda launched Squid, just as new chains were exploding in number. Their goal was clear: remove friction from cross-chain UX.

"Crypto felt like the place where you could actually build instead of being told 'no' all the time."

What Squid Does: Chain Abstraction for Real Users

Squid powers chain-abstracted UX across 80+ EVM and Cosmos chains. It enables:

• Seamless cross-chain swaps
• One-click actions across smart contracts
• Automated routing through programmable pre- and post-hooks

Apps like Portals.fi use Squid to allow users to move tokens, interact with DeFi protocols, and automate transactions without ever worrying about the underlying chains.

"This is the future, apps that don't mention chains at all. Just actions. Just outcomes."

Intent-Based Architecture with Axelar Security

Squid’s new architecture relies on an intent-based protocol:

• Users deposit into escrow
• Solvers instantly fill the destination side
• Axelar validators verify and release funds

This design ensures high-speed execution, low cost, and top-tier security. Each validator in the Axelar network runs full nodes across supported chains, offering reliable transaction finality.

"You get extreme security, extreme speed, and the lowest costs of any smart-contract based intent protocol."

Why Squid Wins: Performance, UX, and Support

Cross-chain UX is notoriously difficult, but Squid has focused on solving the hard parts:

• Instant fills and ultra-low fail rates
• Transparent pricing and deep liquidity
• Human support when needed
• 100+ supported chains and growing

Their success is seen in adoption by:

• Airdrop hunters and power users
• DeFi apps abstracting chains
• Institutional teams exploring blockchain settlement

"We just made cross-chain work, consistently, and people never stopped using it."

Institutional-Grade Infrastructure and Liquidity Design

Squid is now preparing to support institutional flows with:

• AML screening and counterparty controls
• Delayed T+ settlement for larger trades
• Peer-to-peer routing across any chain

Interestingly, Squid sees slower settlement as an advantage. Like TradFi, more time unlocks more liquidity.

"Crypto is atomic by default... but institutions need size. Size requires time. Squid is uniquely good at both."

The Balance Between Decentralization and Institutional Needs

When asked whether decentralization can co-exist with institutional requirements, Fig shared:

"Many institutional systems will centralize. But decentralized ones will still be more resilient, especially when things break."

He believes that fully decentralized infrastructure will prove its worth in the next market crash or systemic event.

What’s Next for Squid

Squid is building toward a fully chainless future, with:

• A mobile UX and first-party frontend
• Deeper support for RWAs and tokenized treasuries
• A UX so simple, users forget chains even exist

"I'd love to never have a bank account again. I think we'll get there."

DeFi TVL Prediction

With DeFi TVL at $134B, Fig’s end-of-year prediction:

"$142B. I'm bullish, maybe we're due for a nice little uplift."

Final Thoughts

Squid is shaping the foundation for a truly seamless, chainless Web3. By offering fast, secure, and programmable cross-chain infrastructure, it’s unlocking powerful new use cases across DeFi, stablecoins, and institutional settlement.

As adoption grows, platforms like Portals.fi are bringing these capabilities to the mainstream helping users access powerful DeFi apps with the ease of Web2 fintech.

About Squid Router

Squid is a cross-chain liquidity and routing protocol that abstracts away complexity from Web3. Built on Axelar, it enables smart contract calls across multiple chains in a single transaction, powering seamless swaps and programmable DeFi actions.

About Portals.fi

Portals.fi is a DeFi meta-aggregator that allows users to swap, zap, and bridge into complex positions across chains. Through the Portals Explorer, users can discover curated vaults, lending markets, and cross-chain strategies in a few clicks. Portals also supports DeFi builders through Cross-Chain Apps powered by intent infrastructure.

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