Sale Details and Timeline
Kraken Listings officially revealed the public sale details for QUID, the native token of cross-chain routing protocol Squid. According to the announcement, the sale will start at 21:00 Beijing time on June 30, 2026, and will remain open until 21:00 on July 3, 2026, lasting three days. The sale will be conducted on both Kraken Launch and Legion platforms. Participants must use USDC stablecoins to subscribe, with a minimum purchase amount of $10. The sale adopts a fixed price mechanism of $0.045 per QUID, resulting in a fully diluted valuation (FDV) of $45 million.
Tokenomics and Allocation
QUID has a total supply of 1 billion tokens, and 5% (50 million) are allocated for this public sale. Notably, all purchased tokens will be 100% unlocked at TGE (Token Generation Event), meaning no linear vesting or lock-up period. This full unlock model is relatively rare among crypto project public sales, attracting both short-term participants and testing the project's long-term value proposition.
Platforms and Subscription Rules
Kraken Launch is Kraken exchange's token issuance platform, while Legion is a decentralized platform focusing on early-stage project funding. Users can participate through either channel, but subscriptions are limited to USDC only. Given the limited supply of 50 million tokens, the sale likely operates on a first-come-first-served or pro-rata basis; specific allocation rules will be announced by the platforms.
Project Background and Market Implications
Squid is a cross-chain routing protocol designed to simplify asset transfers and interactions between different blockchains. QUID serves as the native token for cross-chain fees, governance, and node incentives. Kraken listing QUID on its launch platform signals mainstream exchange endorsement for cross-chain infrastructure. With a conservative FDV of $45 million and full unlock at TGE, investors should monitor participation levels during the sale window and subsequent secondary market performance.
Source: Kraken Listings Official Tweet