Squid serves as a cross-chain infrastructure layer facilitating the transfer of digital value across more than 100 blockchains and over 20,000 tokens. Instead of requiring users to handle separate bridges, gas tokens, and signatures, Squid simplifies this process into a single intent—"send X, receive Y on chain Z"—which is routed across the multichain landscape and settled in one step.

Since launching in January 2023, Squid has handled more than $6.2 billion in cross-chain volume through 4.12 million transactions involving over 1.09 million unique users. The protocol is integrated into more than 1,000 products, such as MetaMask, Ripple, Ledger, MiniPay (Opera), Blockchain.com, Keplr, Brave, and PancakeSwap.

QUID is the native token of the Squid ecosystem and functions for:

• Staking, allowing users to earn extra QUID from a specific, non-inflationary allocation.
• Gaining priority access to protocol offerings, including premium tiers and exclusive yield strategies.
• Governance, starting with Ecosystem Council appointments and later expanding to cover protocol parameters, treasury distribution, and chain onboarding.

The Squid product suite consists of Squid Intents (the protocol layer featuring sub-5-second execution), the Squid Aggregator (which routes via 130+ DEXs and off-chain sources), Squid Token Service / Accounts (for abstraction), the Squid SDK (developer tools), the active Squid Bridge, and a planned consumer app. Its coverage includes 106+ chains across EVM, Cosmos, Bitcoin, Solana, XRPL, and Hedera, with significant focus on non-EVM ecosystems that present the greatest interoperability challenges.

The QUID token has a hard cap of 1,000,000,000 units. Launched in mid-2026 as an ERC-20 asset on the Base network, it allows for staking. Rewards for staking come from a separate, non-inflationary pool, ensuring that the fixed supply limit remains undiluted by yield distribution.

Squid (QUID) launched during its Token Generation Event in mid-2026. Prior to this event, a public sale distributed 5% of the total supply through partner platforms Kraken and Legion. At the time of the TGE, QUID trades natively on-chain as an ERC-20 token on Base via Squid and partner decentralized exchanges. The team states that official contract addresses will be published on Basescan and Solscan at the TGE, and users should verify these with official sources before making any transactions.

Squid operates as a non-custodial router, meaning it never takes possession of user assets; instead, users sign transactions directly from their own wallets. The protocol has undergone nine separate security audits by firms including ConsenSys Diligence, Ackee Blockchain, and n-var. Across $6.2 billion in settled volume, there have been zero exploits, and the system reports a 99% execution success rate. At the routing level, Squid implements risk screening via TRM Labs, performs sanctions checks aligned with OFAC, UN, and EU lists, and blocks access from sanctioned jurisdictions.