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Squid Finance is a DeFi protocol seeking to leverage eCommerce to increase decentralized finance adoption.
The project is currently hosting a private sale for its SQUID token here. The supply is limited and almost sold out.
The crypto market has witnessed an avalanche of investors in recent years. However, not even the 2020 DeFi craze or the 2021 hunt for NFTs have solved one of its primary issues. We are talking about the casual investor neophyte, who cannot navigate the complex swaps, trading pairs, and exchange requirements.
Squid Finance aims to change that by initiating first-time investors in DeFi through a familiar eCommerce experience. And, that’s not all. The platform plans to launch physicalized NFTs (pNFTs) and create the first ticketing system for space travel.
In this short Squid Finance review, we look closer at one of the latest projects to surface in the market. Read on to discover its features, tokenomics, and roadmap details!
What Is Squid Finance?
Squid Finance (SQUID) is a DeFi protocol with multi-chain deployment and a versatile offer of crypto services. The platform will launch officially on the Binance Smart Chain (BSC) on December 28th, 2021.
So far, the Squid developers have set no fewer than 6 missions for the project:
- Bridge the gap between fiat and blockchain.
- Establish Proof-of-Concept (PoC) for physical NFTs.
- Advance DeFi through R&D.
- Create a repo of blockchain wealth.
- Establish the SQUID Proof-of-Stake (PoS) blockchain.
- Create the first ticketing system for space travel
To reach its goals, Squid Finance will leverage the power of multiple dApp ecosystems, e-commerce, and NFTs.
Powering the rapidly developing protocol is its native token, $SQUID, which provides holders with governance powers. Squid Finance will initially launch it on BSC before releasing it on other blockchains as well. Lastly, those who will hold onto their SQUID tokens the longest should gain better rewards.
Squid Finance Features
Squid Finance comes with numerous features that should make it stand out to show that it means business. Here are some of them:
Multichain Investment Protocol
This feature powers the Comet Fund through a multi-layer pooled equity fund. Through it, investors can turn the SQUID transaction volume into profit through direct reinvestment into the comet fund. Additionally, it gives them access to static token rewards.
Tentacle Fiat Protocol
This service allows investors to deposit SQUID into their wallets by purchasing token cards. Additionally, they can increase SQUID holdings by purchasing from the online marketplace directly with their credit card.
This feature removes the need for an exchange account or even for a crypto wallet. This way, beginner investors do not have to learn all the complex terminology to use crypto.
Lastly, the volume will result directly from token integration with the SQUIDverse NFT+ Marketplace. The latter utilizes Squid’s proprietary and purposefully-built tool, Fiat Onramp.
SQUIDverse NFT + Marketplace
Through this feature, investors will be able to trade everything they want within the DeFi space. For example, they will purchase SQUID Token Cards, SQUIDverse pNFT Collectible Cards, and others.
DeFi Triple Chain Launch
Squid Finance plans to launch its SQUID token on three industry-leading blockchains. They are Binance Smart Chain, Ethereum, and Polygon (MATIC).
SQUID Token Cards
In the future, Squid Finance plans to enable investors to download physical or digital cards in SQUID. These cards will contain unique QR codes that buyers can use to claim or transfer tokens.
SQUID Smartcard Crypto Wallet
The platform will also provide its crypto wallet. Investors can rely on it to keep their assets safe. Also, they will be able to customize them with NFT images.
SQUIDverse + Comet Fund
According to the Squid Finance whitepaper, the Comet Fund is a pooled equity investment fund built from transaction volume. This feature uses advanced trading strategies to help investors acquire crypto assets at the best possible prices.
Here are some details about the $SQUID token we know so far:
- Project Name: SQUID Finance Multichain Investment Rewards Protocol
- Token Symbol: SQUID
- Token Type: BEP-20 (PancakeSwap V2)
- Total Supply: 5 Billion tokens
- Circulating supply: 3 billion tokens
- 3% Dynamic Burn
- 2% Comet Reinvestment Fund
- 1% Dynamic Rewards
- Tax/Slippage: 7%
- Liquidity Locked with DxSale for 1 Year
- Auto-LP Generating
After the pre-sale event ends, users can buy SQUID from exchanges like PancakeSwap, Uniswap, or Quickswap. Next, they can store them in crypto wallets, such as MetaMask or Trust Wallet.
Some projects aim to educate investors about Bitcoin or yield farming. This way, they merely open a small door to the infinite universe of opportunities in the crypto world.
Squid Finance aims to blow those doors wide open by offering access to crypto safely and familiarly. Its features have the entry-level investor in mind and the expert trader, too. In this regard, the platform offers everything from DeFi to NFTs and up to space travel tickets.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Learn More