Squid: swap routing, variable fees, recovery assets and AI wallet controls

Squid provides a public application for token swaps within and between blockchains, together with routing tools that other applications can embed. It combines liquidity venues, bridges and market makers. The route returned for a transaction determines which execution system, payment steps and recovery process apply; the public brand does not imply one identical mechanism for every swap.[1]

Current chain and token data should be obtained from the live routing interfaces. The broad supported-network list includes EVM networks and non-EVM systems, but a particular intent method can have narrower availability. Older documentation saying that Bitcoin or Solana support is forthcoming should not be applied to every present-day Squid routing product.[9][8]

Squid advertises variable fees by route and asset, including zero-fee stablecoin routes. These claims do not exclude gas, liquidity or integration costs. Compare the displayed input, expected output and fee breakdown for the actual transaction.[1]

If an integrating application specifies an assumed 10-basis-point fee on 1,000 USDC, that component is 1 USDC: 1,000 × 10 ÷ 10,000. This is a configuration illustration, not a published universal Squid tariff. The documentation’s platform revenue-sharing percentages describe the allocation of collected fees and should not be mistaken for the customer’s trading commission.[12]

Gas funding differs by route. The Axelar integration guide describes EVM cross-chain gas prepaid in native currency, separately from the input token; its Cosmos path can use the bridged asset. The consumer fee guide describes costs incorporated into the swap calculation. The actual wallet transaction and returned quote therefore determine what is paid separately and what is already included.[14][13]

The detailed intent guide describes a source-side refund typically within roughly fifteen minutes after failure. This is a provider estimate, not an unconditional deadline.[7]

The refundable asset can be the RFQ bridge token, such as native currency or USDC, rather than the token originally supplied. Other routing families can deliver a recovery asset on the destination chain instead.[17]

The intent architecture starts with a source deposit and then seeks a destination fill from a market maker. A trusted execution environment, described as using Cubist technology, verifies the destination payment before the source-side funds are released. Retaining the wallet’s private key therefore does not remove dependence on an escrow and verification path after a swap is authorised.[5]

The widget allows configurable slippage and price-impact warnings. These are separate controls: slippage constrains execution tolerance, while a price-impact warning flags the cost of the trade relative to available liquidity. An integrator can configure the widget, so a published default is not proof of the settings selected in every app using Squid.[15]

The terms require users to be at least 18, have legal capacity and comply with applicable sanctions and local restrictions. The inspected terms do not establish a universal country acceptance list. Access can be suspended for security or compliance reasons even where a supported wallet can connect.[3]

The privacy policy describes processing wallet and public-chain information together with technical and usage data. Noncustodial trading does not mean the website or API collects no information. Country, address and route eligibility should be considered separately from whether the service can technically generate a quote.[2]

The consumer help centre suggests contacting support when destination tokens have not arrived after twenty minutes, or when persistent interface errors remain unresolved. It provides an official ticket route and Discord links. This is a help instruction, not a response-time promise or evidence of a telephone dealing service. Keep the transaction link and wallet address available for tracing.[18]

Status records can link the source and destination transactions. They are useful for reconciling the movement and any returned intermediate token. This review did not establish a single tax statement covering every bridge, DEX, gas payment and partner fee involved in a multi-step route.[19]

Ceiba Network Inc is the named controller and operator in the public legal material. The reviewed privacy policy’s Panama context does not, by itself, establish the company’s place of incorporation.[2]

The terms describe Squid as a technical platform rather than a broker or financial institution. This review does not establish a financial-services licence or statutory customer compensation. Panama governing law and the specified Panama City arbitration process are contractual arrangements, not regulatory permissions.[3]

In its 22 May 2026 announcement, Squid reported USD 6 million in new funding and said the service had launched in January 2023. At that date it reported more than USD 6 billion in volume, four million transactions and one million users. Those are dated operator-reported cumulative figures, not current active-account counts or an independently audited daily exchange ranking.[4]

Squid Intents appears in documentation paths that still use the older Coral name. That is a documentation and product-naming relationship within Squid, not evidence of a second independent exchange. The current guide also describes intent routes without ordinary quote-expiry constraints; that should not be applied indiscriminately to every bridge or aggregator route.[6]

Operator

Ceiba Network Inc

Exchange model

Hybrid

Service scope

Public token-swap app and integrations combining liquidity venues, bridge routes and enabled intent execution.

Client types

Retail clients; Professional clients; Institutional clients

Pricing publication

Public and quoted pricing

Other names

Squid Router; Squid Intents

Pricing scope

Route-dependent network, execution and service charges, including possible integrator-added fees; no universal all-in rate established.

Funding scope

Wallet-authorised source transactions or route-specific deposits, using the executable route’s funding instructions.

Custody and asset handling

Core app users keep wallet keys; intent deposits and other routes rely on their respective contract and verification systems.

Client eligibility

Adults with legal capacity meeting sanctions, local restrictions and the applicable route conditions.

Support

Official help centre, support tickets and linked Discord; public transaction and status records assist tracing.

Authorisation and registration scope

The terms describe a technical platform; this review establishes no financial licence or statutory compensation entitlement.

Exchange metadata checked 21 Oct 2026Source 1Source 2Source 3Source 5Source 8Source 19Source 7Source 11Source 12Source 18

The MCP product has more execution authority than a documentation-only assistant. Its EVM-only workflow can create an agent wallet, store its key in the operating-system keychain, obtain a route and execute an approved swap. The guide recommends development, testing and small amounts, and warns against storing significant funds. It says key export should occur locally, outside the AI or MCP context. These controls concern a separately funded agent wallet; they do not make an AI-generated suggestion an authorised transaction from every connected wallet.[21]

QUID is a separate token with published acquisition and staking links. A token reward or staking allocation should not be described as withdrawable cash credited to a swap account, a guaranteed annual yield or a fixed reduction in transaction costs. Dynamic placeholder figures on the token page are not used as evidence of staked balances or current rewards.[23]