What is this Squill? 🦐🪂

A Tax Day Miracle? New patriotic airdrop on mainnet for Leviathan $SQUID holders!

It’s Tax Day! While mailing in your tax forms, don’t forget to recite the Pledge of Ethereum!

I pledge allegiance, to my bags,
In occasional bull hysteria,
And unto Vitalik, for whom we stan.
One chain, under audit, unforkable,
With low gas fees and juicy yields for all.

With a swelling sense of patriotism, we’re thrilled to use tax day to pre-announce our greatest gift to the United States of America.

In the coming days, we’ll release more details. For now, suffice to say a small convention has formed to solve the biggest problem in cryptocurrency, the question that’s been burning up our DMs…

How the heck are we supposed to profit off this stablecoin narrative?

The dang things don’t ever 10x! At best they trade just above a $1… at worst they get sucked into the abyss.

Everybody’s all excited about the power of stablecoins. At their best, they have the capability of spreading liberty, financial freedom, and economic opportunity far from America’s golden shores. Yet as much as everybody wants to jump onto this new narrative, nobody seems capable of directly profiting from this narrative… YET.

Stay tuned as we open up about many more details. But in order to achieve our independence from centralized stablecoins, we first need to form a truly decentralized governing council.

So, this tax day, when many Americans in crypto may be paying mightily to Uncle Sam, we’re prepared to offer many of you a refund, in the form of an airdrop.

We declare:

Wherefore, our movement requires a decentralized community with voting rights.

Wherefore, the astute Leviathan readership are the best informed crypto community.

Therefore, we’re launching a new governance token on mainnet and announcing an airdrop

What is this Squill?

The token is officially launched as “Squid Pro Quo: Independence, Life & Liberty”, (shorter: $SQUILL).

Today we’ve airdropped the initial 1,776,000 tokens on Ethereum mainnet to $SQUID holders. The total supply of 10MM is planned to be released in future airdrops.

What is squill? After launching it, we realized we all thought it sounded good and gubernatorial, but none of us knew what a squill was. We all vaguely thought it was something nautical, and gave reasons like:

• It sounds a bit like $SQUID

• It sounds like it’s what pirates drink (or is that swill?)

• It sounds like a quill… which maybe the Dutch East India company used to vote?

It turns out a “squill” refers to a variety of flowers around the Mediterranean (a body of water, keeping the sea theme), and also is the only commercially fished mantis shrimp.

Whatever it may be, we had the foresight to give governance the power to edit the name and symbol if we find the humble squill too repulsive.

The token is a fork of the Snekmate ERC20 token by pcaversaccio. You may view it and interact on Etherscan. As of now, the only way to acquire SQUILL is via the airdrop.

The $SQUILL-Drop

$SQUILL will be airdropped over multiple rounds, up to a supply of 10MM at the conclusion of the airdrop (currently 1.776MM). Future rounds plan to target a larger community of decentralized stablecoin enthusiasts.

The initial airdrop is for holders of the $SQUID token on Fraxtal. Unlike most of the crypto community, the astute $SQUID holders commonly suffered from excessive gains this April 15. We architected the airdrop with many features to appeal to the nouveau riche.

For one, you may claim at any time between now and the next 60 days, in case this is important for your 2025 tax planning. No liquidity exists for $SQUILL anywhere, so there is no particular rush to claim your airdrop. The fair market value of an airdrop with no liquidity is $0.

The airdrop snapshot was taken at block 18922260 on Fraxtal, and included any user with a balance of at least $100 worth of $SQUID in the Curve pool, gauge, Convex, or Llama Lend. This totalled over 200 DeFi natives who, as avid followers and contributors to Leviathan News, are the best informed community on the planet about the inner workings of DeFi.

The airdrop contract repurposes the successful claim contract from our prior Big Crypto Poll. You may review technical details of this simple Vyper contract on Github.

NOTE: The airdrop has resumed (4/24 3:14 PM PT)

The airdrop contract is located at: 0x17A81C3C7fD664911f00415c4F72b4dFd552053F

You can check eligibility using eligible_addresses(), function 6 in the Read Functions

Claiming is easier… visit the Etherscan page on the Write Contract tab, connect your wallet, and click “claim” (function 5) from an eligible wallet.

If you aren’t technically capable of completing these steps, no hard feelings, but we don’t want your vote to count in governance.

For more details on the prior airdrop that gave so many $SQUID holders such troublesome capital gains this tax day, view our article: