SQUA Token Distribution
Full breakdown & on-chain data

Total Supply & Allocation

Square Token (SQUA) was created with a hard-capped maximum supply of 5,000,000 tokens. According to both the whitepaper and on-chain data from BscScan, the entire supply was minted to the contract owner's wallet at the moment of deployment — a practice that effectively gave the founding team full control over all token distribution from day one.

Three Sale Rounds: Dates, Prices & Rules

The SQUA token was distributed through three sequential private sale rounds in December 2021 and January 2022, exclusively to whitelisted community members registered at token.squaretoken.org (now offline). Only BNB was accepted as payment. After the TGE, SQUA became available on PancakeSwap — the primary decentralized exchange (DEX) on BNB Smart Chain.

Participants who purchased in Private Sale 1 were not eligible to participate in Private Sale 2. Those who missed Sale 1 could still join Sale 2. The registration portal at token.squaretoken.org managed whitelist applications and purchase confirmations — this subdomain is no longer accessible.

Token balances prior to PancakeSwap listing could be verified through a SafePal wallet or directly via the SQUA smart contract. No third-party custodian or escrow was involved in the sale process.

From $3.00 Launch to $18,071 ATH to Near Zero

SQUA launched on PancakeSwap v2 on January 10, 2022 at 18:00 UTC at a starting listing price of $3.00 per token. What followed over the next eight days is one of the clearest examples of a low-liquidity token's susceptibility to price manipulation.

The price swing from an ATL of $0.000000146 to an ATH of $18,071 within a single 24-hour period on January 17–18, 2022 is arithmetically consistent with extremely small trades against a nearly empty liquidity pool — not genuine price discovery. The starting private sale price of 100 SQUA = 0.49 BNB (approximately $180 in December 2021 BNB prices) implied a listing valuation of roughly $1.80 per token before the stated $3.00 listing price.

BscScan Data: What the Blockchain Actually Shows

Unlike claims made in marketing materials, blockchain data is immutable and publicly verifiable. The following data is sourced directly from BscScan and is accurate as of 2025.

The Burn Mechanism: Promised vs. Reality

The whitepaper and all marketing materials prominently featured SQUA's deflationary burn mechanism — every token used to pay fees would be automatically destroyed, reducing supply over time. On-chain data tells a different story: of the 5,000,000 SQUA minted, approximately only 3 tokens were ever burned. This means the deflationary mechanism that was central to the token's value proposition was essentially never activated at meaningful scale.

Smart Contract Structure

The contract source code, verified on BscScan, inherits from OpenZeppelin's battle-tested libraries — a positive signal on its own. However, the deployment pattern raises concerns: the constructor mints the entire 5,000,000 token cap directly to the owner's address, granting the team unilateral control over all token distribution with no time-lock or multi-sig protection.

// SPDX-License-Identifier: UNLICENSED
pragma solidity 0.7.6;

contract SquareToken is ERC20, ERC20Capped, ERC20Burnable {
    string public constant NAME   = "Square Token";
    string public constant SYMBOL = "SQUA";
    uint256 public constant CAP   = 5000000 * 10**18;

    constructor(address _tokenSeller)
        ERC20(NAME, SYMBOL) ERC20Capped(CAP)
    {
        // Mint total cap tokens to the owner
        _mint(msg.sender, CAP); // ← entire supply to deployer
    }
}

The contract was deployed with UNLICENSED SPDX identifier and no security audit was ever submitted to BscScan or any public audit registry. This is not unusual for small BSC projects, but it does mean there was no independent verification of the contract's behavior before investors purchased tokens.

What the Tokenomics Actually Tell Us

Viewed in isolation, SQUA's tokenomics appear standard for a small BSC utility token of its era. Viewed in the context of GoFintech Group's history as a GoArbit reboot, several structural elements take on different significance.

The 30-Day Vesting Window

All three private sales had identical 30-day vesting locks. This means that by mid-February 2022 — just over a month after the January 10 PancakeSwap listing — all 3,000,000 private sale tokens were fully unlocked and freely tradable. The ecosystem fund's lock of 3 months was longer, but still only kept the team's 35% allocation illiquid until April 2022. After that point, all token holders including the project team could sell without restriction.

66,830 Holders Still Exist

Despite the project being functionally dead and the website offline since January 2025, BscScan confirms 66,830 wallets still hold SQUA tokens. These are real people — predominantly from Colombia, Venezuela, and Peru based on GoArbit's known traffic demographics — who participated in the private sales or purchased on PancakeSwap and were never able to recover their investment.

The Ecosystem Fund: 1,750,000 SQUA Unaccounted

The largest single allocation — 35% or 1,750,000 SQUA — was designated as the "Ecosystem Fund" for future development. No public accounting of how these tokens were used was ever published. Given that GoFintech Group collapsed without producing a functional product, the disposition of this allocation remains unknown.