Bittime – Subsquid Network is poised to change the way developers interact with blockchain data through a decentralized data lake and innovative query engine. Leveraging Web3 principles and secured by Zero Knowledge (ZK) proofs, Subsquid offers a scalable and modular architecture designed for blockchain indexing, dApp development, and analytics.
Overcoming the Limitations of Traditional Indexing Frameworks
Traditional monolithic indexing frameworks, once popular among Web3 developers, are now struggling to keep pace with the rapidly evolving blockchain landscape. Subsquid emerged as a decentralized and efficient alternative to these frameworks, as well as centralized infrastructure providers such as RPC and API companies.
Also read: What are Zero-Knowledge Rollups (ZK Rollups)?
The main point
- Permissionless Data Access: Subsquid offers developers scalable, permissionless access to data, addressing today's over-reliance on centralized RPC and API providers. Its modular architecture ensures long-term sustainability for decentralized applications targeting real-world use cases.
- Unified Data Lake: Subsquid aims to organize and prepare data from all blockchain networks, envisioning a comprehensive “Google for Web3”. The initiative supports heavyweight data chains like Solana and broad ecosystems like Ethereum and its Layer 2 solutions.
- Developer-Friendly Environment: With an open source modular structure, Subsquid provides developers and analysts seamless access to blockchain data. The network supports multiple programming languages and integrates with popular Web2 and Web3 developer tools.
- Economic Model for Growth: As blockchain data production increases, driven by innovations such as alternative Layer 1, Layer 2, and danksharding, the Subsquid network will require more participants to store data. Network tokenomics is designed to capture this growing value, with the ultimate goal of reducing data costs for developers and analysts to zero.
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Sales Structure
Sales Details |
|
| Sale Date | Thursday, 18-January-2024, 18:00 UTC |
| Initial Funding Deadline | Monday, 15-January-2024, 12:00 UTC |
| Fixed Sales Price | $0.094 |
| Allocated Supply | 4% |
| Fully Diluted Network Value | $125,678,000.00 |
| Lockup Conditions | 20% released at TGE, followed by 6-month linear vesting; TGE is expected around May 15, 2024 |
| Total Token Supply | 1,337,000,000 SQD |
| Purchase Limits | Minimum: $50, Maximum: $2,000 |
| Request for Additional Allocations | Minimum: $100, Maximum: $2,000 |
| Funding Methods | USDT, USDC |
| Eligible Participants | Excludes residents of the US, Canada, China, Republic of Korea, and other jurisdictions |
Tokenomics and Utility
The SQD token, native to Subsquid Network, is an ERC-20 token deployed on the Ethereum mainnet and bridged to Arbitrum One. These tokens are critical to aligning incentives in the network, rewarding node operators, curating network participants, and enabling governance.
| Category | % of Total Supply | Description |
| Pre-Seed Support | 12% | Initial backers from 2021, 6 month lockup after TGE, 20% released, 24 month linear vesting for remaining 80%. |
| Seed Supporter | 16.3% | Initial backers from late 2021, 6 month lockup after TGE, 20% released, 24 month linear vesting for remaining 80%. |
| Strategic Support I | 4.6% | Strategic backing from early 2022, linear vesting 12 months after TGE. |
| Strategic Support II | 2% | Strategic backing from 2022, 6 month lockup after TGE, 25% released, 18 month linear vesting for remaining 75%. |
| Tim | 15% | Lockup 6 months after TGE, 20% released, 24 month linear vesting for the remaining 80%. |
| Reserved Recommendations | 28.1% | For network development, grants, prizes, ecosystem activities, 36 months linear vesting. |
| Liquid Reserves | 5% | For market making, providing liquidity on CEX/DEX, other ecosystem activities. |
| Employee Gifts | 10% | To reward network node operators, vesting 84 months after TGE. |
| Community Sales | 5% | 20% released at TGE, 6 month linear vesting. |
| Testnet Participants | 1% | To reward early adopters of the network, vesting is linear 6 months after TGE. |
| Testnet Worker | 1% | To reward early node operators, 12 month lockup after TGE, 24 month linear vesting. |
Roadmap and Ecosystem
Subsquid's commitment to developer-friendly decentralization is visible through its modular architecture and growing ecosystem of compatible tools. Developers can use the programming language and framework of their choice to access the Subsquid Network, pulling data from various sources and routing it to custom targets. This flexibility not only empowers native Web3 developers but also unlocks the potential for large enterprise use cases.
The Figure Behind Subsquid's Greatness: Experienced Team
- Dmitry Zhelezov: Co-founder and CEO, has extensive experience in blockchain development and decentralized technologies.
- Marcel Fohrmann: Co-founder and CTO, expert in software architecture and distributed systems.
The Subsquid team consists of experts in their respective fields, who are committed to building a best-in-class blockchain data platform.
Also Read How To Buy Crypto:
Predicting the Future of $SQD: Promising Market Potential
- High Demand: Subsquid targets the fast-growing market for easy and efficient blockchain data access.
- Innovative Technology: Subsquid's peer-to-peer architecture offers a scalable and cost-effective solution.
- Strong Community: Subsquid has an active and growing community that supports the project.
However, it is important to remember that market predictions are speculative and cannot be guaranteed. Do your own research before making an investment decision.
Subsquid's Advantages That Set It Apart: Competitive Advantage
- Efficiency and Scalability: Subsquid's peer-to-peer architecture enables high scalability and low transaction costs.
- Ease of Use: Subsquid provides an easy-to-use API and intuitive development tools.
- Compatibility: Subsquid supports multiple blockchains and protocols, ensuring broad interoperability.
- Decentralization: Subsquid is a completely decentralized platform, empowering users and communities.
Conclusion
Subsquid and its token, $SQD, present an innovative solution for blockchain data access. With strong technology, an experienced team, and a growing community, Subsquid has a great opportunity to become a major player in the ever-evolving blockchain landscape.
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Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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