Abstract
Noise-biased qubits are a promising route toward significantly reducing the hardware overhead associated with quantum error correction. The squeezed cat code, a non-local encoding in phase space based on squeezed coherent states, is an example of a noise-biased (bosonic) qubit with exponential error bias. Here we propose and analyze the error correction performance of a dissipatively stabilized squeezed cat qubit. We find that for moderate squeezing the bit-flip error rate gets significantly reduced in comparison with the ordinary cat qubit while leaving the phase flip rate unchanged. Additionally, we find that the squeezing enables faster and higher-fidelity gates.