The 6️⃣9️⃣ $SQUILL-Drop
Have you helped steer DeFi? Check your wallet, claim your power, and vote-lock to shape the stablecoin multiverse.
$SQUILL governs $OPEN, an equal-weight index tracking leading stablecoin-networks advancing transparency, composability, and user-led governance.
OPEN is deployed on the Reserve protocol, built on Ethereum. Learn more about OPEN.
Vote-lock SQUILL to earn fees and a voice in shaping the OPEN index: constituents, weights, and beyond.
Total supply is capped at 10,000,000 SQUILL. View the contract.
SQUILL is for Contributors
Season 1 launched on April 15: 18% of supply dropped to Leviathan News curators. Details here.
Season 2 dropped today, June 9: 13% of supply to DeFi participants aligned with stablecoin liquidity and governance.
Each season expands the circle. This drop goes wider. The next might go planetary?
Snapshot criteria for Season 2 eligibility:
💧 Liquidity & Alignment
$OPEN holders – snapshot: 6/7
vlSQUILL-OPEN – snapshot: 6/4
Curve LPs: OPEN/WETH & SQUILL/WETH – snapshot: 6/4
🗳️ Governance Enthusiasts
Curve proposal voters: Proposal #1079 (includes veCRV, vlCVX, CLEV voters and yCRV and sdCRV)
Governance voters (June '24–May '25) from:
Aave AAVE
Curve Finance CRV
Inverse Finance INV
Frax Finance FRAX (formerly FXS)
Liquity LQTY
Reserve RSR
Sky Ecosystem MKR/SKY
f(x) Protocol FXN
Alchemix ALCX
Origin Protocol OGN
In total: 1,557 addresses. 10+ DeFi ecosystems. If you helped steer governance, you might be on the list.
Claiming your SQUILL is Easy
The airdrop contract is located at 0x4c3675bA47C8Da8af5742DbB55635eD22C0D7617 — built on the same claim logic from Season 1, open for 60 days.
You can check if you’re getting SQUILL by searching your wallet on the Github or using eligible_addresses()—Function 6 under Read Contract on Etherscan.
To claim:
Go to the Etherscan contract page
Connect your wallet
Hit “claim” (Function 5 in Write Contract)
Done
What Now? Lock and Lead
Vote-locking SQUILL = fees + governance rights. Lock your SQUILL now to help steer the next index update.
An index rebalance is coming. RFC is live. Snapshot vote likely around June 16. Onchain vote around June 23.
Your vlSQUILL-OPEN gives you a say in the future shape of OPEN—especially if you care about one or more of the following: AAVE, CRV, INV, FRAX, LQTY, RSR, SKY, FXN, ALCX, OGN
SQUILL and OPEN are signals: you don’t just witness the future of money, you help compose it.
Be sure to join the Telegram to hang with other open money enjoooyers.