Axelar's General Message Passing (GMP) is a protocol that enables cross-chain communication between different blockchain networks. It allows developers to build applications that can interact with multiple blockchains without having to worry about the underlying technical differences between the chains.

GMP is based on a network of relays that are responsible for routing messages between different chains. The relays are secured by a Proof-of-Stake (PoS) consensus mechanism, which makes the network resistant to attack.

GMP can be used to send a variety of messages between chains, including:

• Transferring assets: GMP can be used to transfer assets between different chains, such as ETH from Ethereum to SOL on Solana.
• Calling smart contracts: GMP can be used to call smart contracts on other chains. For example, a developer could use GMP to call a smart contract on Ethereum from a dApp on Solana.
• Sending data: GMP can be used to send arbitrary data between chains. This could be used to send data from one chain to another for storage or processing.

GMP is a powerful tool that can be used to build a wide variety of cross-chain applications. It is already being used by a number of projects, including Squid Router, a decentralized exchange that allows users to trade assets across different chains.

Here are some of the benefits of using Axelar's GMP:

• Cross-chain composability: GMP enables developers to build applications that can interact with multiple blockchains without having to worry about the underlying technical differences between the chains. This makes it possible to build applications that are more powerful and feature-rich than what would be possible on a single chain.
• Security: GMP is secured by a PoS consensus mechanism, which makes it resistant to attack.
• Flexibility: GMP can be used to send a variety of messages between chains, including transferring assets, calling smart contracts, and sending data. This makes it a powerful tool for building a wide variety of cross-chain applications.

Axelar's GMP is still under development, but it is already being used by a number of projects to build innovative cross-chain applications. The fact that there are already 15 EVM chains involved in Axelar's GMP transactions and over 450k+ transactions have been processed so far is a testament to the potential of this protocol.

The monthly GMP transaction count data shows that there has been a significant increase in usage of Axelar's GMP in recent months. This is likely due to the growing interest in cross-chain applications and the increasing number of projects that are building on Axelar's GMP. The fact that the monthly GMP transaction count has been increasing steadily, even during the recent bear market, is a positive sign. It suggests that there is a strong demand for cross-chain communication and that Axelar's GMP is well-positioned to meet this demand.

In conclusion, Axelar GMP is an important protocol for the future of cross-chain communication. It enables developers to build applications that can interact with multiple blockchains without having to worry about the underlying technical differences between the chains. This makes it possible to build applications that are more powerful and feature-rich than what would be possible on a single chain.

One example of a popular dApp that is built on Axelar GMP is Squid Router. Squid Router allows users to swap assets between any two blockchains that are supported by Axelar GMP. It also provides a liquidity pool that allows users to earn yield by providing liquidity to the protocol.

The number of monthly active users of Squid Router has been increasing steadily over the past year, which suggests that the protocol is gaining traction and that users are finding it valuable.

The data shows that Squid Router is primarily being used to swap stablecoins and wrapped assets between different blockchains. This is likely due to the fact that Squid Router offers a number of advantages over other cross-chain swap protocols, such as fast and secure swaps, low fees, and a wide range of supported chains.

As the cross-chain ecosystem continues to grow, Axelar GMP will play an increasingly important role in enabling cross-chain communication and interaction.

Squid Router is a cross-chain swap and liquidity routing protocol that is built on Axelar's GMP. It allows users to swap assets between any two blockchains that are supported by Axelar's GMP. Squid Router also provides a liquidity pool that allows users to earn yield by providing liquidity to the protocol.

Squid Router has over 113.2k all-time users. This is a significant number of users for a relatively new protocol. The number of monthly active users of Squid Router has been increasing steadily over the past year. This suggests that the protocol is gaining traction and that users are finding it valuable. The monthly active user growth rate of Squid Router has been particularly impressive in recent months. In the past 9 months, the number of monthly active users has increased by over 1000%.

The most popular Squid source chains are Polygon, Binance, Arbitrum, Avalanche, and Optimism. This suggests that these chains are the ones with the most active Squid users. The most popular Squid destination chains are Celo, Polygon, Fantom, Binance, Arbitrum, Moonbeam, and Avalanche. This suggests that these chains are the ones that Squid users are most interested in interacting with.

The most popular token sent across Squid is axlUSDC, followed by USDC. This suggests that users are primarily using Squid to swap stablecoins.