RAVN vs Squid
Squid routes across 80+ chains, most of them Cosmos, and its app swaps native Bitcoin and Solana. We race up to five venues on every Bitcoin swap and open every chain from the first API call. Here is how the two compare.
Quick answer
Squid is a cross-chain router that grew up in the Axelar ecosystem. It reaches 80+ chains, most of them Cosmos chains, and wallets like MetaMask, Ledger and Brave use it. Its app swaps native Bitcoin and Solana both ways.
We cover fewer chains: native Bitcoin, Solana and 15 EVM chains. Every quote races 20 venues, from relayers and solver networks to RFQ market makers, DEX aggregators and cross-chain pools, and the best net output wins. A Bitcoin swap gets four of them bidding for it. No API key, no application form, and no fee of our own by default.
So both of us move real BTC. The differences are how many venues compete for your swap, how you get access, and who keeps the integrator fee.
How we compare
| Squid | RAVN | |
|---|---|---|
| What it is | Cross-chain router: API, SDK, widgets and React hooks | API with open-source SDKs (JS/TS, Python, React), a widget, a free MCP server and x402. Our app runs on it |
| Chains | 80+, including 54 Cosmos chains, Bitcoin, Solana and Sui. Its docs list 100 | 17: native BTC, Solana and 15 EVM chains |
| Native Bitcoin | Both ways in its app. BTC in went through Squid Intents, BTC out through Chainflip | Both ways. Relay, NEAR Intents, THORChain, Chainflip and Rift all quote, the best one wins |
| Solana | Both ways in its app | Both ways. Jupiter Ultra, 0x Solana, Mayan, Relay and NEAR Intents race |
| BTC and SOL for developers | Its docs call them a closed beta, switched on per integrator | Open to every API call, no request needed |
| How a route is picked | Our EVM test routes all bridged through Axelar, via axlUSDC | Relayers, solver and intent networks, RFQ market makers, DEX aggregators and cross-chain pools all quote at once. The best net output wins |
| Bridge or wrapped token in the path | Yes on our test routes: USDC swapped into axlUSDC, Axelar's wrapped USDC, then bridged through Axelar | You always receive the real token. No bridge of our own, though NEAR Intents routes pass through NEAR's bridge mid-swap |
| Fee on top of venue cost | Its docs say no protocol fee. Its homepage says fees vary by route | 0 bps by default. Integrators can add their own, up to 100 bps |
| Integrator fee | Enabled by the Squid team on request. Squid takes 50%. Soft limit of 1% | You set 0 to 100 bps on a free key you create yourself. On most venues you keep 60% |
| Access | Integrator ID required, by application form. 1 request a second while testing | No key needed. 30 requests a minute per IP |
| AI agent access | MCP server documented for EVM chains. Its GitHub repo returned 404 when we checked. No x402 found | Free hosted MCP server with 10 tools, plus x402 pay-per-call in USDC |
| SDK install footprint | 182 packages, 152 MB | 1 package, 52 KB, zero dependencies |
Figures for Squid come from its own docs, site and API on 2026-09-25. Squid's own pages disagree on fees, so where they conflict we list what we measured.
The real token, every time
Squid's default routes run through Axelar. When we asked its app for USDC on Base to Bitcoin, the route swapped USDC into axlUSDC, Axelar's wrapped copy of USDC, bridged that to Arbitrum, and swapped it back to USDC before Chainflip took it to Bitcoin. For a moment, your money was a wrapped token sitting on a bridge.
What you receive is always the real token on the chain you picked, never a wrapped copy. The only wrapped token you get from us is one you picked yourself, like WBTC. We run no bridge of our own and write no contracts.
How your coins travel depends on the venue that wins. Relayers such as Across and Relay pay you out from their own funds, and cross-chain pools such as THORChain and Chainflip swap from vaults of real coins. NEAR Intents works differently: its own bridge holds your deposit and issues a matching token on NEAR while solvers fill the swap, then burns it and sends you the real asset, usually within minutes. Every quote names the winning venue, so you can see which path you are on.
How a Bitcoin swap is priced
Squid's app swaps real BTC in both directions. When we asked it for quotes on 2026-09-25, BTC into Base ETH went through Squid Intents, its own solver network. USDC on Base into BTC was bridged over Axelar to Arbitrum, then swapped into bitcoin through Chainflip. One route each way.
With us, Relay, NEAR Intents, THORChain, Chainflip and Rift all quote the same Bitcoin swap at once, and you get whichever pays you the most. What lands is real bitcoin at your address, not a wrapped token.
If you build on Squid's API rather than use its app, its docs still call Bitcoin and Solana a closed beta that Squid switches on per integrator. On ours, every chain is open from the first call.
Getting access
Squid's API rejects any request without an integrator ID, which you apply for through a form. Its docs set 1 request a second while testing and 10 in production, on request. Integrator fees also have to be switched on by the Squid team.
Ours works from the first request. Every endpoint answers anonymously at 30 requests a minute. A free key is instant and raises the limit. You set your own fee on that key, and nobody has to approve it.
Fees and who keeps them
Squid's docs say it charges no protocol fee. Its homepage says fees vary by route and asset type, and a May 2026 post said a fee was coming to its own app. In our test quotes we saw only gas lines, including a small payment to Axelar's gas service.
The bigger difference is the integrator split. If you add a fee through Squid, Squid takes 50% of it. Through us you keep 60% and we keep 40% on most venues, and you can go up to 100 bps without asking. Our pricing docs list the exceptions.
A much lighter SDK
Installing @0xsquid/sdk pulled in 182 packages and 152 MB on 2026-09-25, including Cosmos, Sui and Solana libraries. That weight buys Squid's chain range. If you only need EVM, Solana and Bitcoin, most of it goes unused.
Our SDK, @ravnexchange/sdk, is one package of about 52 KB with zero dependencies. It never touches a private key. You bring the wallet library you already use.
Where Squid wins
- Cosmos. Squid reaches 54 Cosmos chains through IBC and Axelar. We support none of them.
- Distribution. Squid says more than 1,000 integrators use it, including MetaMask, Ledger, Brave and Ripple. We are in beta and have not reached that scale.
- Contract calls. Squid's hooks can run a contract call before or after the bridge, like staking on arrival. We do not offer that today.
- Audits. Squid lists nine audits of its contracts. We have no contracts of our own to audit, because we settle through independent venues.
When Squid fits better
- Your users live on Cosmos chains, Sui, or another chain we do not support yet.
- You need a contract call as part of the same cross-chain transaction.
- You want the router already built into MetaMask and Ledger.
If you want up to five venues competing on every Bitcoin swap, or want to ship without an application form, start with a live quote on our side.
Try it yourself
Parallel venues. Best execution. Live in beta. We never touch your funds.
FAQ
Does Squid support native Bitcoin?
Yes. Squid's app swaps native BTC both ways. When we checked on 2026-09-25, BTC in went through Squid Intents and BTC out through Chainflip. For developers building on its API, Squid's docs call Bitcoin and Solana a closed beta, enabled per integrator ID. We race Relay, NEAR Intents, THORChain, Chainflip and Rift on every Bitcoin swap, open to every API call.
Does RAVN use bridges or wrapped tokens?
We run no bridge of our own, and you always receive the real token, never a wrapped copy. The only wrapped token you get from us is one you picked yourself, like WBTC. One venue, NEAR Intents, moves coins in and out through its own bridge, so on its routes your deposit is held as a matching token on NEAR for the minutes the swap takes. Squid's default routes bridge through Axelar, and our test route turned USDC into axlUSDC, Axelar's wrapped USDC, along the way.
Do I need an integrator ID to use Squid?
Yes. Squid's docs say its API rejects any request without a valid integrator ID, which you apply for through a form. Our API works without a key at 30 requests a minute per IP.
Does Squid charge a fee?
Squid's docs say it charges no protocol fee, while its homepage says fees vary by route and asset type. If you add an integrator fee, Squid takes 50% of it. Through us you set up to 100 bps yourself and keep 60% on most venues.
Is Squid built on Axelar?
Squid grew up in the Axelar ecosystem and says it is not built only on Axelar. Every EVM test route we pulled still bridged through Axelar with axlUSDC. We route each swap to whichever of 17 independent venues pays the most.
Which one supports more chains?
Squid. It reaches 80+ chains, 54 of them Cosmos chains, and its docs list 100. We support 17: native Bitcoin, Solana and 15 EVM chains.
