MSQUARE (MSQ) Price

MSQ is the token presented by the MSQUARE ecosystem on Polygon. It is not Polygon’s native gas asset, and it should not be treated as the same asset as MSQX, which is displayed alongside it on the official website; the website provides separate PolygonScan lookup links for the two. Therefore, MSQ cannot be identified by name or ticker alone: the project website’s linked MSQ contract lookup page should be used. The cited official materials do not explain an MSQ-to-MSQX conversion ratio, swap eligibility, or identical rights, so those points cannot be inferred from the similar names.

Disclosed uses include buying and trading P2U coins with MSQ on MSQUARE Market, and using it in certain payment or point processes connected to MSQUARE platforms. In these cases, MSQ is the token supplied by the user, while P2U coins, platform points, and the services themselves are different things and should not be treated as interchangeable. Actual availability depends on whether a use case has launched and on the applicable region or platform scope. For example, K-PAL’s direct payment expands in stages beginning in Mongolia, while METASTAR has published notices on charging points with MSQ and subsequent payment-process updates. An announcement for one function does not mean every MSQUARE product or region supports it.

On MSQUARE Market, MSQ can be used to buy and trade P2U coins. P2U coins are the objects traded in that market, while MSQ is the token that the whitepaper states may be used for this purpose. The whitepaper also explicitly states that market transactions carry no trading fee and describes them as free trading. That statement describes the transaction-fee terms of MSQUARE Market; it does not make MSQ, P2U coins, and platform points the same asset, nor does it extend this condition into a general settlement rule for all MSQUARE products or regions.

K-PAL has established a direct MSQ payment function, but it was not opened in every region simultaneously when the announcement was published. In an announcement dated April 8, 2026, the project said the function would begin with K-PAL Mongolia and expand gradually. “Established a direct payment function” means the platform has integrated the ability to pay with MSQ; “expand gradually” limits its geographic and time scope. When users see MSQ in other K-PAL regions or services, they should rely on the payment entry actually provided in that region rather than assume direct payment is available everywhere because of the announcement alone.

MSQ use in METASTAR was updated from “charging points after deposit confirmation” to “wallet-linked payment.” A 2025 announcement said users could charge points after an MSQ deposit was confirmed, and that a process to charge points simultaneously with a deposit was under development; this shows that token deposit confirmation and point accounting were key steps at that time. A March 2026 update then said the process changed from sending tokens to an existing wallet to completing payment through wallet linking, with the aim of reducing the time required and simplifying payment. The update changes the payment operation path within METASTAR; it does not mean MSQ’s on-chain confirmation rules, token supply, or payment processes on every platform changed.

An MSQ unlock changes previously locked tokens into tokens counted as circulating, so it may increase the amount holders can transfer or sell in the market; it does not mean the project minted the same number of new tokens. The actual market effect also depends on whether holders transfer, sell, or continue holding after unlock, so an unlock cannot be equated directly with a certain price rise or fall. A March unlock announcement published in February 2026 disclosed that unlocks would occur from the 1st to the 7th of each month, excluding holidays, beginning in August 2024 and continuing for 20 consecutive months. Each tranche was 597,808.75 MSQ, or 5% of the 11,956,175 MSQ total locked amount. For the March 3–6, 2026 unlock period, the announcement stated a pre-unlock circulating amount of 25,318,622 MSQ and a post-unlock amount of 25,916,431 MSQ; its disclosed total issuance was also 25,916,431 MSQ. These are historical figures from that announcement and should not be treated as the current real-time supply.

Before transferring, buying, or using MSQ, first verify that the asset is the MSQ linked by the official website, rather than the similarly named MSQX or another imitation asset. Because MSQ and MSQX each have a different PolygonScan lookup link, the contract lookup page is a necessary part of verifying the asset’s identity. Then confirm the specific use case and its status. Buying and trading P2U coins, METASTAR point charging or wallet-linked payment, and K-PAL direct payment are not the same process, and the K-PAL announcement explicitly says its function expands in stages beginning in Mongolia. Sending payment to a mismatched address or initiating payment in an unsupported region does not make the on-chain transfer itself a substitute for the platform’s processing of the service or points.