Question 1

What is SQR?

Accepted Answer

SQR is the utility and governance token in the Magic Square ecosystem. It is used for membership access, fixed-term staking, ecosystem activity rewards, and DAO governance: after users lock or stake SQR, they may receive product benefits, points, or voting weight under the applicable rules. These uses do not automatically represent ownership of equity or profits in the project company.

Question 2

What is the practical purpose of locking SQR?

Accepted Answer

Locking SQR grants tiered Magic Store membership benefits. The official documentation lists locking thresholds of 500 SQR for Plus, 2,000 SQR for Premium, and 5,000 SQR for Premium Plus; the tiers correspond to different benefits such as fee discounts, SQRp, activities, or pools. Locking is non-custodial, meaning users retain ownership of their tokens, but locked tokens are not counted as freely circulating during the lock period. Membership upgrades take effect immediately; if a user applies to downgrade, a 30-day cooldown is required before the corresponding SQR can be unlocked and retrieved. This waiting stage links membership benefits to locking status, so “still owned by the user” does not mean locked tokens can be used for transfers or trading at any time.

Question 3

What do users receive after staking SQR?

Accepted Answer

Native SQR staking uses fixed-term pools of up to 360 days. After users stake SQR into a contract and select a term, they receive fixed APR rewards paid in SQR according to that term; official materials state that rewards can be claimed after the lock period ends, and longer terms correspond to higher APRs. The actual APR is subject to the pool rules at the time of participation. The same stake also creates two categories of points with different uses: SQRp is used for eligibility determinations such as Magic Drops and Launchpad allocations, while SQRv is used for governance weight in the Magic DAO. In other words, SQR rewards, participation eligibility, and voting influence are parallel but distinct outcomes, and points should not be treated directly as freely transferable SQR.

Question 4

What is SQRv used for?

Accepted Answer

SQRv is a point generated from holding or staking SQR and used as governance weight in the Magic DAO. Its role is to measure a user's influence in DAO decisions such as project validation: according to the official explanation, the more SQR is staked, the greater the voting weight. SQRv is a governance measurement unit, not an SQR balance itself.

Question 5

What is SQRp?

Accepted Answer

SQRp is a staking-related eligibility point. Each staked SQR is counted toward the user's SQRp score; this score is used to determine whether the user can participate in Magic Drops for partner projects and receive Magic Launchpad allocations. SQRp determines eligibility or the basis for allocations; it does not guarantee an airdrop, an allocation, or a particular amount.

Question 6

How are ecosystem activities connected to SQR on-chain swaps and circulation?

Accepted Answer

In the Hot Offers reward flow, partners or advertisers first fund an activity with USDT; when users complete tasks and claim rewards, the system swaps the corresponding USDT for SQR on-chain through PancakeSwap, so users receive SQR rather than USDT. This flow connects activity funding with on-chain SQR swaps, but it describes the settlement mechanism for specific activity rewards and does not guarantee price or trading-volume outcomes. The official utility documentation also states that swapped SQR may be used for user rewards and partner commissions, and that a portion may be burned under internal mechanisms. “May” means whether burning occurs and its amount depend on the relevant product or mechanism; not all activity funding or all SQR rewards should be regarded as necessarily burned.

Question 7

Which blockchain does SQR use?

Accepted Answer

The official Litepaper lists SQR on BNB Chain and provides the official contract address: 0x2B72867c32CF673F7b02d208B26889fEd353B1f8. When transferring, swapping, or approving through a wallet, users should verify both the network and this contract address; even if the network is correct, an incorrect contract can still lead to interaction with a same-named or counterfeit asset.

Question 8

What should users consider when using or holding SQR?

Accepted Answer

Before holding or using SQR, users need to distinguish among locking, staking, and direct holding. Membership locking has a 30-day cooldown after a downgrade is requested; native staking has a fixed term, with rewards claimed after the lock period ends. Meanwhile, SQRp and SQRv affect activity eligibility and governance weight respectively, and should not be treated as token balances that can be sold at any time. Membership, staking, reward swaps, and potential burning mechanisms describe product rules and the token's paths of use in the ecosystem; they do not guarantee price appreciation or any return. Before participating, users should also confirm the applicable pool term, APR, activity eligibility, and on-chain operating costs.

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