$QUID Public Sale FAQ

About The Sale

What is Squid and the $QUID token?

Squid is a leading cross-chain platform that connects 100+ chains, 20k+ tokens, and 130+ liquidity sources. Users can buy, swap, bridge, and send tokens across any chain with Squid's frontend, and developers can integrate Squid via SDK, API, and Widget for seamless cross-chain functionality.

$QUID is the native token of Squid and marks an important milestone for the Squid Ecosystem. As the Squid Ecosystem continues to expand its product, ecosystem, and interoperability infrastructure, $QUID is intended to support participation in and engagement with the Squid ecosystem. Learn more

How does the Squid Public Sale work?

The sale takes place on Legion and Kraken, each platform with its own eligibility criteria and allocation process.

Participants of the sale apply by pledging a minimum and maximum amount in the platform’s accepted payment currency.

If the sale is oversubscribed, pledges are scaled down proportionally (pro rata) to match the available supply. On Legion, eligible Squid users and community members may be prioritised during final allocation decisions, which can mean a larger share of their pledge being filled. Learn more

Final allocations are determined shortly after the sale closes, and $QUID is distributed at TGE.

When does the sale open and close?

The sale opens on June 30, 13:00 UTC and closes on July 3, 13:00 UTC.

Participants must complete KYC and submit pledges before the sale closes. Those applying for priority allocation on Legion must also submit the Squid Priority Allocation Form by July 3, 13:00 UTC.

When will I receive my $QUID tokens?

$QUID tokens will be distributed at TGE, and allocations are determined shortly after the sale closes. The TGE date is yet to be announced. Follow Squid on X for updates.

Is there an airdrop?

No. Squid has chosen not to do a traditional airdrop because we believe that there are better and longer term options for user appreciation than an airdrop can offer.

Platforms & Participation

Where can I participate in the Squid Public Sale?

You can participate in the sale on two platforms, Legion and Kraken.

Eligibility varies by platform and region. Make sure that your region is supported on your chosen platform before the sale begins. See our resources for participating to prepare.

Why two platforms?

Access is at the core of Squid, and the public sale is no exception. Legion and Kraken each reach a distinct community and user base, and together they open the sale to more people.

Can I use more than one platform?

Yes. Squid does not limit participation to one platform. However, eligibility varies by platform and region. Make sure that your region is supported on your chosen platform before the sale begins.

Which platform should I choose as a Squid user?

If you have used Squid or taken part in the community before, choose Legion.

Eligible Squid users and community members may be considered for priority allocation if they apply to the Squid Public Sale through Legion. To be considered, you must submit the Squid Priority Allocation Form by July 3, 13:00 UTC.

Submitting the Squid Priority Allocation Form does not replace your Legion application. Priority is not guaranteed.

Which countries are restricted from participating?

Region restrictions vary by platform:

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On Legion, jurisdiction restrictions apply to the UAE, UK, US, Russia, Iran, Syria, North Korea, Cuba, and the sanctioned regions of Ukraine. Learn more

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On Kraken, jurisdiction restrictions apply to Canada, Australia, and other specific regions. Learn more

The US and UK are restricted on Legion, but can participate on Kraken.

Do I need to complete KYC to participate?

Yes. You will need to verify your identity (KYC) before participating. KYC is completed through each sale platform, and requirements may vary by platform.

What assets can I use to participate?

Accepted currencies vary by platform. See the supported options listed on Legion and Kraken.

What is the minimum and maximum I can pledge?

The minimum pledge is $100 and the maximum is $100,000 per participant, per platform. These limits apply to both sale platforms, Legion and Kraken.

Can I change or cancel my pledge after submitting?

Changing and cancelling vary by platform:

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On Legion, all submissions are final. Once you apply, the application can't be changed. You can withdraw your application, but you won't be able to submit again. Learn more

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On Kraken, you can adjust your pledge before the sale closes. If you are based in the EEA or UK, you can also withdraw from the sale entirely within 14 calendar days of pledging without any fees or costs, as long as the token has not already been listed on any platform for secondary trading. Learn more

Are there any fees associated with the sale?

Fees vary by sale platform:

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On Legion, there are no fees to participate. You only need to cover standard network (gas) fees. Make sure your wallet has enough ETH on Ethereum to cover gas before the sale opens.

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On Kraken, a 0.5% participation fee applies, on top of standard network (gas) fees.

Allocation & Priority

How is allocation determined?

Each Squid Public Sale platform uses a different allocation mechanism.

On Legion, allocation may take into account past Squid usage, Squid community participation, and Legion score. Eligible Squid users and community members can submit their Legion ID and the accounts they’ve used with Squid through the Squid Priority Allocation Form to be considered for priority allocation. Submissions are open until July 3, 13:00 UTC.

On Kraken, allocation is managed separately by the platform and may be based on Kraken account activity and other criteria determined by Kraken. Learn more

What does merit-based mean?

Merit-based means allocation is based on set criteria, rather than purely on pledge size or order of entry. Criteria work differently on each sale platform:

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On Legion, priority allocation is applied by Squid and may take into account past Squid usage, Squid community participation, and Legion score. Learn more

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On Kraken, allocation is managed separately by the platform and may be based on Kraken account activity and other criteria determined by Kraken. Learn more

What is priority allocation? How does it work?

Priority allocation is a way for eligible Squid users and community members to be considered for prioritised allocation when applying to the Squid Public Sale through Legion.

If the sale is oversubscribed, pledges are scaled down proportionally (pro rata) to match total allocations to the available supply. On Legion, eligible Squid users and community members may be prioritised during final allocation decisions, which can mean a larger share of their pledge being filled. Learn more

Priority allocation is not guaranteed, and final decisions are made shortly after the sale closes.

Who should fill out the Priority Allocation Form?

Priority allocation is only available to users applying to the Squid Public Sale through Legion.

If you are planning on applying to the Squid Public Sale through Legion and have either used Squid in the past or consider yourself a Squid community member, you should fill out the Priority Allocation Form.

To be considered, submit the Squid Priority Allocation Form and apply to the sale through Legion by July 3 at 13:00 UTC. Learn more

What do I need to submit?

You need to submit your Legion ID and accounts you've used with Squid. That includes wallets used with Squid's products (e.g. app.squidrouter.com) and where Squid is integrated (e.g. Rubic, Jumper), wallets holding commemorative NFTs from Squid marketing campaigns, and your Discord and X accounts.

Should I connect all my wallets and accounts to one Legion ID?

Yes. Connect everything to one Legion ID. One ID with your full onchain and social history counts for more than splitting it across multiple Legion accounts.

Do I need to submit the Priority Allocation Form before applying on Legion?

No. You can submit the Squid Priority Allocation Form before or after applying to the Squid Public Sale through Legion. However, both your Legion application and your Squid Priority Allocation Form must be submitted by July 3, 13:00 UTC, before the sale closes.

Submitting the Squid Priority Allocation Form does not replace your Legion application.

Does submitting the Priority Allocation Form guarantee allocation?

No. Submitting the Squid Priority Allocation Form does not guarantee priority status, participation in the Squid Public Sale, acceptance of your Legion application, or any specific $QUID allocation.

Does the Priority Allocation Form apply to Kraken?

No. The Squid Priority Allocation Form only applies to users applying to the Squid Public Sale through Legion. Kraken uses a separate allocation mechanism.

Can I see my allocation before I participate in the sale?

No. Allocations are determined shortly after the sale closes, as they depend on the total amount pledged during the sale. You will see your final $QUID allocation by July 8.

Will I be notified if I qualified for priority allocation?

No. Priority allocation isn't confirmed or notified separately. If you have been prioritised, it will be reflected in the final allocation you receive after the sale closes.

What happens if the sale is oversubscribed?

If the sale is oversubscribed, pledges are scaled down proportionally (pro rata) to match total allocations to the available supply.

On Legion, eligible Squid users and community members may be prioritised during final allocation decisions, which can mean a larger share of their pledge being filled. Learn more

Any excess pledged funds will be refunded after the sale closes, according to each sale platform's process and timeline.

What happens if I don't get an allocation?

If you don't receive an allocation, or your pledge is only partially filled due to oversubscription, the unfilled amount is refunded after the sale closes, according to each sale platform's process and timeline.

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On Legion, refunds are available for a 14-day period following the conclusion of a token sale. You can check your eligibility and request a refund directly through your Legion account. Learn more

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On Kraken, unfilled pledges are returned to your Kraken account within 7 days. No action required.

When are allocations finalised?

Allocations are determined shortly after the sale closes, and you will see your final $QUID allocation by July 8. Follow Squid on X for updates.