Sale Details
From 21:00 Beijing time on June 30 to 21:00 on July 3, the native token QUID of cross-chain routing protocol Squid will be publicly available on Kraken Launch and Legion platforms simultaneously. Users must subscribe using USDC, with a minimum subscription amount of $10. The sale employs a fixed price mechanism of $0.045 per QUID, corresponding to a fully diluted valuation (FDV) of $45 million. The sale window lasts 72 hours, and tokens will be 100% unlocked at TGE (Token Generation Event) with no lock-up period.
Tokenomics
QUID has a total supply of 1 billion tokens, with 5% (50 million tokens) allocated for this sale. The remaining tokens will be used for ecosystem incentives, team, investors, and treasury. The fixed-price model lowers the barrier for user participation and avoids premium risks from bidding. The immediate full unlock means participants gain full liquidity of their tokens right after TGE, but they must also bear the market volatility risk.
Market Significance and Platform Collaboration
Kraken Launch, the token issuance platform of Kraken exchange, has partnered with Legion, a community-driven cross-chain launchpad, reflecting mainstream exchange interest in cross-chain infrastructure projects. Squid protocol, built on LayerZero, enables cross-chain asset transfers, and QUID serves as its governance and utility token, empowering the cross-chain routing ecosystem. The publication of these sale details provides a clear price anchor for the market, helping investors assess project valuation and participation strategies.