CORAL
What is CORAL?
CORAL is Squid's latest intent-based system that makes cross-chain transactions faster, cheaper, and more efficient than ever. By combining both onchain and offchain liquidity through RFQ (Request-for-Quote) auctions, CORAL delivers optimal execution while minimizing blockchain usage. Here are some of CORAL’s key features:
- Up to 90% lower gas fees: CORAL reduces gas costs by batching intents
- Near-instant finality: Orders are filled immediately on the destination chain
- MEV protection: Built-in safeguards against front-running
- Zero slippage: Get exactly what you asked for
CORAL brings RFQ auctions to Squid, adding off chain liquidity to 110+ integrated sources on chain.
How CORAL works
When you (a user) request a quote for a trade, market makers bid to fulfill these orders through RFQ auctions, providing instant execution while settling later via Axelar’s standard execution. CORAL's smart batching system combines similar intents from multiple users into single Axelar messages, drastically reducing gas costs while removing common bridge risks from end users.
CORAL’s sophisticated architecture is enabled by Squid 2.0’s modularity and multi-protocol hopping. By combining onchain and offchain liquidity sources, CORAL provides access to a wider range of liquidity, improving swap execution and efficiency. CORAL’s RFQ implementation also allows for immediate order filling on the destination chain, providing faster transactions with virtually instant finality.
CORAL security and chain support
CORAL utilizes General Message Passing (GMP) protocols like Axelar, which secure Squid and protect users from the vulnerabilities associated with bridges. GMPs offer a wide array of benefits to Squid in addition to security. For instance, increasing extensibility that allows us to support a wider range of chains and assets. GMPs minimize the use of underlying blockchains and messaging protocols, which is beneficial for reducing costs and improving speed without compromising security. CORAL has undergone two audits, which can be seen here.
CORAL is now live on Ethereum, Base, Arbitrum, BNB Chain, and Linea. Support for Optimism, Avalanche, and Blast, along with other chains and assets is coming soon. This includes the 80+ chains currently supported by Squid, plus additional integrations made possible through Squid 2.0’s extensibility, which allows for using multiple secure message passing protocols in the backend of CORAL. Even better, as new chains are added to the Squid network, costs decrease further.
Learn more about CORAL here.
Learn more about multi-protocol hopping here.