Moving from one asset on one chain to a different asset on another normally means three transactions and two interfaces. Squid compresses that into one, routing through Axelar's message passing with swaps at either end.
What the convenience is worth
Multi-step cross-chain operations are where users make mistakes: wrong chain, wrong token, stranded gas. A single transaction with a single confirmation removes most of that surface. For users who bridge occasionally, the reduction in error risk may outweigh the extra contract layer.
The stacked risk
You depend on Axelar's validator set and on Squid's routing contracts. Neither has failed, both are audited, and the total risk is nonetheless larger than using Axelar directly. That is the honest accounting, and it applies to every aggregation layer in this category.
Cost and speed
Axelar's fees plus swap costs on both legs, and speed bounded by Axelar's consensus round-trip — slower than intent-based bridges, comparable to other validator-secured routes.
Who should use it
Users who value one-click cross-chain swaps and are moving amounts proportionate to Axelar's economic security. For simple same-asset transfers on EVM routes, Across is faster and involves fewer contracts.