Squid Protocol, is a decentralized cross-chain swap and liquidity routing protocol that enables users to easily swap and transfer tokens between different blockchain networks.

The protocol utilizes existing decentralized exchanges (DEXs) to enable these transactions and can be accessed through an SDK, front-end, or contracts directly.

One notable feature of Squid is its use of Axelar's generalized message passing, which allows for seamless one-click transactions between any application and any user, using any asset. This means users can buy NFTs from any marketplace, use multi-chain DeFi, or play games on other chains without the need to sign multiple transactions or download multiple wallets[1].

Supported chains

• EVM chains: Ethereum, Arbitrum, Avalanche, Polygon, Moonbeam, Binance Chain, Fantom and Celo
• Cosmos chains:: Cosmos Hub, Crescent, Injective, Juno, Kujira, Osmosis, Secret Network, Terra-2, Agoric, AssetMantle, Axelar, Comdex, Evmos, Fetch, Ki, Regen and Umee [2].

To determine which Cosmos chain has had the most activity since February 23rd, we obtained transaction hashes and additional parameters such as volume, sender, source, and destination chains from the tables of Axelar Squid. We excluded destination chains from Ethereum, Polygon, Avalanche, Arbitrum, and BSC to obtain fundamental parameters.

We then set up parametrized queries on the Alanyze page to track custom Cosmos destination chains. By inputting the name of a specific chain in the "Destination_name" parameter, users can track their favorite destination activity metrics, such as routes and assets.

Our queries cover all activity since February 23rd, when the ability to swap into 13 different Cosmos chains via Squid was announced on Twitter.

We obtained data from the "decoded_event_logs" and "core.dim_contracts" tables in the source chains to provide insights into the activity metrics of each destination chain.

Using this methodology, we were able to determine which Cosmos chain had the most activity since February 23rd.