Squid is a cross-chain infrastructure that enables users to easily swap assets between different blockchain networks. The platform has recently expanded its capabilities to support swaps into 13 different Cosmos chains, including Juno, Regen, Umee, Kujira, Secret Network, Evmos, Comdex, AssetMantle, Terra, Crescent, Agoric, Osmosis and Stargaze.

Using Squid, users can swap from any EVM chain into a range of Axelar assets (such as axlUSDC, axlWETH, axlWAVAX) on any supported Cosmos chain with just one click. Squid's aim is to provide a seamless user experience, where users not only have access to various chains but can use their assets immediately.

It's worth noting that most transactions within the Cosmos ecosystem require the native tokens of the chain in question to pay for transaction fees (gas). However, Squid has made it possible for users to receive some of the destination chain's native gas token when they make a swap into a Cosmos chain via Squid. This ensures that users have enough gas to make at least one transaction on the chain without having to acquire gas tokens separately.

First I am gonna gather on-chain data from the different EVM chains that Squid supports thanks to Flipside Crypto database, specifically looking at the transaction volumes and destinations for users swapping into Cosmos chains via Squid.

To get a more comprehensive view, I would also look at blockchain explorers and other analytics platforms that provide data on cross-chain transactions and swaps between EVM chains and Cosmos chains. By analyzing the data from these sources, I could identify which Cosmos chains have had the most activity since Squid's expansion into the ecosystem.

By looking at the transaction volumes and destinations for these bridge protocols, I could identify which Cosmos chains have the most activity and which ones are being used as destinations for swaps from other EVM chains.

Additionally, I could look at the active user counts for each Cosmos chain to see which ones have the most engagement and community activity. This could provide some insights into which chains are gaining popularity and which ones may see increased activity in the future.

Based on the data analysis conducted on the most common directions for swaps from EVM chains to Cosmos chains via Squid, it appears that Osmosis has been the most popular destination for users. Specifically, we can see that the majority of swaps have been from Polygon to Osmosis, followed closely by swaps from Arbitrum to Osmosis and Avalanche to Osmosis.

In terms of active users bridging, the same top three chains emerge, with Polygon being the most active, followed by Arbitrum and Avalanche. This suggests that these chains may have strong user communities that are interested in interacting with the Cosmos ecosystem and the assets that it offers.

It is also interesting to note that the metrics for swaps to Cosmos chains via Squid have increased over time since the announcement on February 23rd. This may indicate that there is growing interest in the Cosmos ecosystem and its assets, as well as in the ease of use provided by Squid's one-click swaps.

Based on the data analysis conducted on the most common EVM chains used for swaps to Cosmos chains via Squid, it appears that Polygon is the most commonly used EVM chain, followed closely by Arbitrum. Specifically, we can see that there have been almost 250 bridges from Polygon to Cosmos chains via Squid, with over 200 unique users. Similarly, Arbitrum has also seen a significant number of bridges and unique users.

It is also worth noting that Avalanche, BSC, and Ethereum are also being used for swaps to Cosmos chains via Squid, although they appear to be less popular than Polygon and Arbitrum.

When looking at the metrics over time, we can see a steady increase in the number of swaps to Cosmos chains via Squid, indicating growing interest in the Cosmos ecosystem and its assets. Additionally, it appears that Arbitrum is gaining momentum as a popular EVM chain for swaps to Cosmos chains via Squid, which may indicate a shift in user preferences or market dynamics.

Overall, these findings suggest that Polygon and Arbitrum are currently the most commonly used EVM chains for swaps to Cosmos chains via Squid, with Avalanche, BSC, and Ethereum also being used to a lesser extent. The increasing trend in swaps over time indicates growing interest in the Cosmos ecosystem, and the popularity of different EVM chains may shift as user preferences and market dynamics change.

We can see that Squid has been successful in enabling users to swap into different Cosmos chains from EVM chains. The data suggests that the most popular EVM chains used for swapping are Polygon, Arbitrum, and Avalanche. This can be attributed to the fact that these chains are popular among users due to their fast and cheap transactions.

In terms of the most common Cosmos chains used as destinations, Osmosis is the clear winner with a large number of bridges and unique users. This suggests that Osmosis has been successful in attracting users to its platform by providing a range of assets and liquidity pools. Kujira is also showing some activity, which indicates that it is gaining popularity among users.

It is interesting to note that the activity jumped significantly after February 23rd, which is the date when Squid announced the possibility to migrate from EVM to 13 different Cosmos chains. This suggests that the announcement had a positive impact on the usage of Squid and the adoption of Cosmos chains.

Overall, the data shows that there is significant interest in swapping between EVM and Cosmos chains, and Squid has provided a user-friendly way to do so. It will be interesting to see how the adoption of Squid and Cosmos chains evolves in the future as more users become aware of the benefits of using these platforms.

• Squid has enabled users to swap into 13 different Cosmos chains, making it easy to move from EVM to Cosmos.
• The most common direction of movement has been from Polygon to Osmosis, followed by Arbitrum to Osmosis and Avalanche to Osmosis.
• Polygon and Arbitrum are the most common EVMs used for swapping into Cosmos chains via Squid.
• Osmosis is by far the most popular Cosmos chain for users to swap into from EVMs, with Kujira being the second most popular.
• The activity levels for swapping into Cosmos chains via Squid increased significantly after the announcement on February 23rd.
• The data suggests that there is a growing interest in using Squid to move assets between EVMs and Cosmos chains.