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What is Subsquid (SQD)?
Subsquid is a decentralized query protocol and data lake designed to help extract, process, and access on-chain data from over 100 different L1 and L2 blockchains, including EVM, Substrate, and chains like Solana, Cosmos (upcoming).
Unlike previous competitors like The Graph, Subsquid adopts a flexible modular design, utilizing SQLite and DuckDB, integrating ZK Proofs, Trusted Execution Environment (TEE) to provide real-time query capabilities for historical and not yet finalized blocks, with low cost and reliability.
How does Subsquid work?
Subsquid Network is designed as a distributed query engine with multiple components:
- Data Providers: provide on-chain data (currently supporting EVM and Substrate, upcoming Cosmos, Solana).
Operating Model of Data Provider - Scheduler: distributes and synchronizes data from Providers to Workers.
Operating Model of Scheduler - Workers: mining nodes that process data to respond to queries, receiving rewards in SQD tokens.
- Logs Collector: records logs from Workers, stored on IPFS.
- Reward Manager: calculates rewards based on Worker performance and token stake.
- Data Consumers: use Gateway to query data. Bandwidth increases with more SQD tokens locked.
Data queries are responded to by Workers with digital signatures, allowing query verification and slashing of fraudulent Workers.
Products in the Subsquid Ecosystem
- SQD Network: Decentralized query engine infrastructure, serving historical and real-time data for 200+ networks.
Subsquid Network - Squid SDK: Typescript toolkit to build indexers, batch data extractors, decode logs, filter transactions, etc.
- SQD Cloud: PaaS service to deploy indexers on cloud, supporting Postgres, RPC, zero-downtime.
SubSquid Cloud - SQD Firehose: Adapter for subgraphs using data from SQD Network instead of traditional RPC.
- ApeWorx plugin: Integrated with ApeWorx framework for quick data access.
Subsquid's Highlighted Features
- Modular Query: Unlike The Graph (monolithic architecture), Subsquid allows separation of query, client, and backend modules.
- Real-time Data Access: Supports querying unfinalized blocks – useful for oracles, AI agents, high-speed dApps.
- Non-EVM Support: Covers over 200 chains, including Substrate, Solana, Starknet, Fuel, etc.
- Low Extraction Costs: Reduces indexing costs by up to 90% compared to RPC like Alchemy, Infura.
- Diverse Cloud Support: Enables Web2 developers to access Web3 via SQD Cloud (Graph only accepts crypto).
Overview of SQD Token and Tokenomics
Token Metrics
- Token Name: Subsquid
- Token: SQD
- Blockchain: Ethereum (bridge to Arbitrum One)
- Token Standard: ERC-20
- Contract: 0x1337420dED5ADb9980CFc35f8f2B054ea86f8aB1
- Total Supply: 1,337,000,000 SQD
- Circulating Supply: Being updated
Token Distribution
| Category | Percentage |
|---|---|
| Pre-seed | 12% |
| Seed | 16.3% |
| Strategic I | 4.6% |
| Strategic II | 2% |
| Team | 15% |
| Treasury (Locked) | 28.1% |
| Treasury (Liquid) | 5% |
| Worker Rewards | 10% |
| Community Sale | 5% |
| Testnet Users | 1% |
| Testnet Workers | 1% |
Token Unlock Schedule
- Team/Backer: 6-12 months lock, 18-24 months vesting.
- Treasury: 36 months vesting.
- Worker Rewards: 84 months vesting.
- Public sale: 20% TGE, 6 months vesting.
Token Utility
- Staking: Become a Worker or delegate to receive rewards.
- Data Access: Lock tokens to open query bandwidth.
- Payment: Pay for data query fees.
- Governance: Vote on governance matters.
SQD Token Wallets & Exchanges
- Storage Wallets: MetaMask, Trust Wallet, OKX Wallet, Rabby Wallet.
- Exchanges: Bybit (SQD/USDT), CoinList (Token Sale).
Roadmap
- Q3 2024: Gateway 2.0 – anyone can provide data.
- Q4 2024: Light Squids, Permissionless Datasets.
- H1 2025: ZK & TEE Validation for historical & real-time queries.
Project Team
- Project implemented by Subsquid Labs GmbH – a German team with extensive experience in Web3 indexing and infrastructure.
Investors & Partners
- Investors: Project raised 3.8M USD in seed round, 6M+ USD in public sale on CoinList.
- Partners: CoinList, Bybit, ApeWorx…
Similar Projects
| Name | Technology | Comparison |
|---|---|---|
| The Graph | Monolithic indexing | Supports EVM, traditional indexing |
| Subsquid | Modular indexing, Data lake | Supports EVM + Substrate + Solana, low cost, flexible |
Overall Assessment of Subsquid
Subsquid sets a new standard for Web3 data query infrastructure. With its modular architecture, decentralized data lake, real-time query support, Subsquid is a heavyweight competitor to The Graph in the Web3 indexing race.
The integration of ZK and TEE to verify trusted queries, providing data for AI agents, oracles, and fast and cheap dApps is a promising trend that shows strong potential for growth in the future Web3 environment.
Frequently Asked Questions about Subsquid
- How is Subsquid different from The Graph? – Subsquid is more flexible (modular), supports non-EVM and real-time query.
- How can you earn SQD tokens? – Participate in running Worker, stake/delegate, testnet, or join campaigns from SQD.
- What is the application of Subsquid in AI? – Structured Web3 data, real-time from Subsquid serves training and inference for AI agents.
Summary
Subsquid Network is an advanced Web3 data query ecosystem, supporting real-time, on-chain & off-chain with very low query costs. If The Graph is Google in the Web3.0 era, then Subsquid is the decentralized "AWS S3 + BigQuery" for the multi-chain era.
