Recently we announced our support for dYdX v4 by enabling a seamless onboarding experience for users onto the new appchain. Today, we’re excited to share the next step in making the backend of that user flow even more robust.
Noble has been working hard to ensure that users of dYdX v4 are able to make trades using native USDC, and today the final piece fell into place with their integration of Circle’s Cross-Chain Transfer Protocol (CCTP) into the Noble mainnet.
In tandem, we’ve added support for CCTP, so users with assets on EVM chains can seamlessly swap into native USDC and deposit it directly onto dYdX v4. While Squid swaps their assets and routes them through Axelar, CCTP, and finally over IBC (the Inter-Blockchain Communications protocol) to the dYdX chain, users don’t have to see any of that complexity. Squid makes the entire operation take place in a single click.
Better yet, this isn’t the only path Squid can take to help users get started on dYdX v4. As we previously detailed, Squid is able to use Axelar to route user’s assets to Osmosis, swap them into native USDC, and then send that balance to the dYdX chain.
By supporting two different routes for onboarding users to dYdX v4, Squid ensures resiliency and minimizes slippage, so large volumes of assets can securely and frictionlessly flow to the exchange.
What’s next? Keep your eyes out for dYdX v4 coming out of beta. It’s launching in Cosmos, but thanks to Squid you might never even notice you’re on another chain. You’ll be able to simply take whatever assets you have on any chain, turn them into USDC, and get started on the new app!
About Squid
Squid is a secure cross-chain router on Axelar Network that enables interoperability between blockchains and applications. Squid is easily integrated via their API, SDK, and front-end tools that facilitate fast and reliable single-click transactions and token transfers. Developers can use Squid to onboard users from any ecosystem and create scalable, seamless user experiences for anyone with a crypto wallet.
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About Circle
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is powering always-on internet-native commerce and payments and is the issuer of USDC and EURC. Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through the frictionless exchange of financial value.
About Noble
Noble is an appchain purpose-built for native asset issuance in Cosmos and the boundless Inter-Blockchain Communication (IBC) ecosystem. Dozens of appchains can access USDC issued on Noble via an integration leveraging IBC that is simple, safe and seamless.