QUID Token Sale Report: 11.8x Oversubscribed, TGE Is Live
Squid Router's $QUID sale drew $26.5M against a $2.25M cap — 11.8x oversubscribed, public unlocked before insiders. The full numbers, and why the venue matters more than the token.
Here’s a number that tells you where this cycle’s appetite really is: $26.5 million showed up for a token sale that only had $2.25 million of allocation to sell. That was Squid Router’s $QUID public sale in early July — 11.8x oversubscribed, 3,535 participants, allocation rationed out by reputation rather than by gas war. The token went live on 4 August.
This report covers three things: what Squid actually is, the full numbers of the sale and what they turned into at launch — and the part most readers will care about tomorrow: where these sales happen, because the platform behind this one, Legion, is quietly becoming the default home for serious ICO investors.
Disclosure: this article contains a referral link to Legion. If you create an account through it, DeFiSecret may receive a referral benefit at no additional cost to you. We did not participate in the $QUID sale, and nobody paid for this coverage — the caveats below are reported as we found them.
Risk warning: token sales are venture-grade risk. Tokens can and often do trade below their sale price, oversubscription measures demand at entry rather than returns at exit, and early-stage tokens are illiquid and highly volatile. Legion sales require KYC and exclude several jurisdictions, including the US and UK. Nothing here is a recommendation to buy.
⚡ Want into the next one? Sales like $QUID close fast and allocation follows reputation — the sooner your Legion profile exists, the better it scores.
What is Squid Router?
If you’ve ever swapped a token on one chain for a token on a completely different chain in one click — inside MetaMask, Ledger Live, Brave or Keplr — there’s a decent chance Squid did the routing behind the scenes. Built on Axelar’s cross-chain network, Squid is plumbing, not a casino: it finds the best route for your swap across chains and executes it in a single transaction.
The traction is what made this sale serious rather than speculative: over $6 billion routed since January 2023, across 100+ blockchains, for more than 1 million users and roughly 4 million transactions, embedded in 1,000+ apps. Backers include Polychain Capital (seed, $3.5M in 2023), Fabric Ventures, Node Capital and Aave founder Stani Kulechov as an angel — about $13.5M raised in total before the public got its turn.
The sale, by the numbers
| Term | Detail |
|---|---|
| Sale window | June 30 – July 3, 2026 (completed July 8) |
| Platforms | Legion + Kraken Launch (KYC required; US/UK excluded) |
| Price | $0.045 per $QUID ($45M FDV) |
| For sale | 50M tokens — 5% of the fixed 1B supply |
| Hard cap | $2.25M (tickets $100–$100,000) |
| Demand | $26.5M committed · 11.8x oversubscribed · 3,535 participants |
| Public unlock | 100% at TGE — no vesting for public buyers |
| Insiders | Investors/team/partners: 12-month cliff, 0% at TGE |
Two structural points worth understanding. First, the unlock asymmetry is unusually friendly to the public: retail’s tokens are fully liquid on day one while VCs and the team wait a year — the opposite of the structure everyone spent 2024 complaining about. Second, the float is small: roughly 14% of supply circulating at launch, which cuts both ways — it flatters the price when demand is strong and exaggerates the fall when it isn’t.
TGE day: sale price vs. market price
$QUID went live on 4 August 2026 at 13:00 UTC, natively on Base (contract verified), with listings including Binance, Kraken, Upbit, Bithumb, Bitget and MEXC, plus every major DEX aggregator. A Binance + Upbit debut for a $45M-FDV sale is, frankly, more listing firepower than sales this size usually get.
In the hours after listing, $QUID traded around $0.1215 — roughly 2.7x the $0.045 sale price. That figure is a snapshot of TGE day, not a current quote: day-one prices on fully unlocked sales move fast, and by the time you read this it will have moved. Check a live source before drawing conclusions.
For quick mental math, here’s what different prices would mean for sale participants (reference only, not predictions): $0.09 is a 2x, $0.135 a 3x, $0.225 a 5x, and $0.45 — a $450M FDV — would be a 10x. Because public tokens are 100% unlocked, whatever the market pays, sale buyers can actually realize it — no waiting, no cliff.
The real story: where this sale happened
Now the part I actually want readers to sit with. You couldn’t buy this sale on a DEX or ape it from a Telegram link. It happened on Legion (alongside Kraken’s Launch platform — and it’s worth noticing that when Kraken decided to enter the token sale business, Legion is who it partnered with).
Legion’s idea is simple and, in my view, overdue: allocation by merit, not by luck or size. You build a profile, connect your socials, wallets and history, and Legion computes a score from what you’ve actually done — on-chain activity, development work, community contribution, investing track record. Projects then hand their best allocations to the highest-quality participants. It’s an ICO platform that treats early rounds like something you earn, which is why projects with real traction — Fuel, Silencio, Enclave, Almanak, Pulse, and now Squid — keep choosing it over a free-for-all launchpad.
The platform was incubated by Delphi Labs, and its own investors are the kind of names that don’t attach themselves to launchpad casinos: VanEck, Brevan Howard Digital, Coinbase Ventures, Kraken, Crypto.com Capital, cyber•Fund. When the infrastructure for “day zero” investing is being funded by the most conservative money in the industry, that tells you where this is heading.
Three practical notes before you join. Signing up is just email/Google/X, but allocation quality follows your Legion Score, so connect your history and start building it before the sale you want, not during. KYC is mandatory and some jurisdictions — notably the US and UK — are excluded from most sales. And a score isn’t a guarantee: popular sales like $QUID still ration hard, which is exactly why being early to the platform matters.
The next $QUID will be rationed the same way. Your Legion Score starts building the day you sign up — not the day the sale opens.
What I’d watch from here
Honestly: day-one prices on 100%-unlocked sales are noisy — some buyers will take their profit immediately, that’s the design. The number that matters is where $QUID settles once the flip is done and whether Squid converts its very real routing volume into token demand (staking and governance are live; fee-related mechanics are the thing to watch in the docs). And as always with ICOs: an 11.8x oversubscription measures hype at entry, not returns at exit. Size any sale — on Legion or anywhere — like the venture bet it is. For lower-risk corners of this market, my ether.fi and Kast pieces are the other end of the spectrum; for other early plays, see Hibachi and Ondo Perps.
Verdict
$QUID was the cleanest public sale structure I’ve reviewed this year — real product with $6B of routed volume, honest price ($45M FDV), the public unlocked before the insiders, and demand that spoke for itself at 11.8x. Whatever the chart does this month, the template matters: this is what token sales are supposed to look like. And the venue is the takeaway — sales like this happen on Legion, allocation goes to profiles that exist before the hype, and building one costs nothing but time.
🎯 Get positioned for the next sale
Join Legion through the link or QR below, connect your socials and wallets, and let your Legion Score start compounding. Sign-up takes two minutes with email, Google or X — the score takes time, which is the point.
Referral link: app.legion.cc?homie=D8B94424
FAQ
What was the $QUID sale price?
$0.045 per token at a $45 million fully diluted valuation. 50 million tokens (5% of the 1B fixed supply) were sold for a $2.25M hard cap, and $26.5M in commitments made it 11.8x oversubscribed.
When did $QUID launch and where does it trade?
TGE was 4 August 2026 at 13:00 UTC, natively on Base. Listings include Binance, Kraken, Upbit, Bithumb, Bitget, MEXC and major DEX aggregators.
Are $QUID public sale tokens locked?
No — public sale tokens were 100% unlocked at TGE. Investors, team and partners face a 12-month cliff with linear vesting after.
What is Legion.cc?
A merit-based token sale platform incubated by Delphi Labs and backed by VanEck, Brevan Howard Digital, Coinbase Ventures, Kraken, Crypto.com Capital and cyber•Fund. It scores participants on real on-chain and professional history, and projects allocate sales to the best-scoring profiles.
How do I get allocation in sales like $QUID?
Create a Legion profile, complete KYC, connect socials and wallets, and build your Legion Score before sales open. High-demand sales ration allocation by score — profiles that exist early score better. Allocation is never guaranteed.
This article is research commentary, not financial advice. Token sales are venture-grade risk: prices can fall below sale price, and past oversubscription does not predict returns. Price figures are a TGE-day snapshot and will have changed. Sale data verified against sale.squidrouter.com, squidrouter.com and public trackers in August 2026. Some jurisdictions (including the US and UK) are excluded from Legion sales.