Sale Overview
Kraken Listings announced via X that the native token QUID of cross-chain routing protocol Squid will be offered in a public sale on Kraken Launch and Legion platforms starting June 30, 2026, at 21:00 Beijing time. The sale window remains open until July 3, 21:00. The sale employs a fixed price mechanism at $0.045 per token, corresponding to a fully diluted valuation (FDV) of $45 million. QUID has a total supply of 1 billion tokens, of which 5% (50 million tokens) is allocated exclusively for this public sale.
Subscription Rules and Unlock Schedule
Participants must subscribe using USDC, with a minimum purchase amount of $10. Unlike many token sales that implement gradual vesting or linear release schedules, this sale offers 100% unlock at TGE — all subscribed tokens will become fully liquid immediately upon the Token Generation Event, without any lock-up period. This design significantly reduces the time cost for holders, though it also implies that the market may face considerable selling pressure shortly after listing.
Project Background and Market Impact
Squid is a protocol focused on cross-chain routing, enabling efficient and low-cost asset transfers between different blockchains. QUID serves as the governance and utility token of the protocol. The listing on Kraken Launch leverages Kraken exchange’s brand recognition and user base, likely attracting substantial investor interest. A fixed-price sale with no lock-up is generally considered favorable to early participants, but it also carries the risk of post-TGE dumping. Investors should assess their own risk tolerance and monitor potential spot listing announcements on Kraken.