There’s no token like XRP, there’s no chain like XRPL. And now, Squid is opening the onchain doors to the entire XRPL ecosystem. We’re joining forces to power the cross-chain connection between the XRPL and the newly launched XRPL EVM Sidechain. Squid is the main access point to the XRPL ecosystem, enabling seamless bridging, trading, and liquidity flow between the XRPL and 80+ other chains, including Ethereum, Solana, Bitcoin, and Cosmos.
We’re proud to help provide interoperability and support the growth and expansion of an ecosystem that is one of crypto’s oldest legacies.
A Reflection: XRPL to XRPL EVM
The XRPL launched as an L1 blockchain in 2012, deploying XRP as its native token. In the past 13 years, the XRPL ecosystem has continued to grow, and XRP has remained sturdy in the market, and has also grown to be one of the world’s most distributed and held tokens.
The XRPL ecosystem is the home to native dApps that stretch across DeFi, SocialFi, NFTs, and a community of members that understand the technical depths of XRPL to such a degree they can name each XLS. The XRPL EVM Sidechain, built by Ripple and Peersyst, offers these devout builders and members the opportunity to expand their presence on the XRPL, access global liquidity, and share their world with more chains and more people.
Today is the launch of the XRPL EVM Sidechain, which brings full support for Ethereum-compatible smart contracts to XRPL, combining its hallmark speed and low fees with the flexibility of Solidity-based development. But let’s take a moment to remember where it all started. Testnet. The XRPL EVM testnet brought impressive numbers, from smart contracts to transactions. Squid’s widget was integrated by Peersyst as the access point to the testnet.
Over the span of a short few months, there were 4m smart contracts in 2m blocks, 50k+ tokens, and 10m+ transactions. That was just testnet. Now it’s time for mainnet.
Squid + CORAL = Everything you Need
Squid is the fastest, most powerful way for both users and developers to interact with the XRPL. Users can bridge, send, and trade assets on the XRPL and the XRPL EVM with app.squidrouter.com, and developers can enable the same cross-chain functionality on their own app via Squid’s API.
Squid plugs into leading interop layers like Axelar, and combines these rails with our own execution and routing system, CORAL - an intent-based engine that finds the best path for every swap, bundles transactions to reduce gas, and protects users from slippage and MEV. It turns complex, cross-chain operations into seamless swaps.
DeFi Unlocked
With this launch, the XRPL EVM becomes a catalyst for a new generation of applications. Early builders include DeFi protocols like Vertex and Strobe, alongside infrastructure and liquidity providers such as Moai Finance, and Securd.
XRP now serves as the native gas token for all applications on the XRPL EVM Sidechain. Meanwhile, Squid enables major assets like USDC and WETH to flow in from Ethereum and other ecosystems, setting the stage for rich cross-chain liquidity and new DeFi utility.
Through Squid and Axelar, RLUSD is expected to become interoperable with stablecoins from other chains, unlocking new use cases for payments, lending, and developer adoption across ecosystems.
More than 4 million wallets still hold over $2 billion in XRP - much of it sitting idle on centralized exchanges. Squid offers a fast, intuitive, and non-custodial way to bring that capital onchain, where it can power applications, earn yield, or be swapped cross-chain.
With fiat onboarding and deep cross-chain support in one place, Squid offers the easiest way into the XRPL ecosystem - for first-time users and advanced developers alike.
Squid School
There’s more you can do and a lot you can learn. Discover everything you need to know about the XRPL ecosystem by visiting Squid School. We’ve provided step-by-step guides for everything, from moving XRP from centralized exchanges, to bridging from EVM chains to XRPL EVM. Our XRPL collection is live with the following categories:
Looking Forward
Today marks a significant milestone for XRPL, Squid, and crypto. XRPL has been revolutionizing the crypto landscape for 13 years, and still, this is just the beginning. Follow our socials and stay tuned for updates about the XRPL ecosystem and future releases at Squid. Thank you for your support and for joining us on our journey.
Please Note
This blog is provided for educational and informational purposes only. This is not investment advice or a recommendation or solicitation for on-chain participation in any mentioned chains, tokens, or assets. Please do your own research before swapping any on-chain assets.
About Squid
Squid makes it easy to bring XRP onchain, so you can use it across DeFi, connect to top apps, and discover everything the XRPL ecosystem has to offer. Squid lets you move easily between XRPL, the XRPL EVM Sidechain, and opens up access to Ethereum, Cosmos, Solana, Bitcoin, and beyond.
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