The first project to open for sale on Coinlist in early 2024 is called Subsquid Network (SQD).
Subsquid Network is an innovative, decentralized data lake and query engine that focuses on cross-chain indexing and fast querying, and is secure through zero-knowledge proofs.
Designed to provide developers with high-performance and permissionless access to data, the Subsquid Network aims to create a neutral and open Internet based on Web3 principles. The Subsquid Network is protected by ZK proofs, has a modular architecture, provides excellent scalability and developer convenience, and is optimized for blockchain indexing, dApp development, and analytics.
Optimized for batch ingestion of large amounts of data, it currently provides on-chain data for more than 100 EVM and Substrate networks, including event logs, transaction receipts, tracking, and state differences for each transaction. According to Subsquid, in the future it will also support general SQL queries and a growing number of structured data sets derived from on-chain and off-chain data.
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How does Subsquid solve the problem of slow indexing speed?
Subsquid can index the entire Kusama network in 15 minutes by analyzing 50K blocks per second. The service indexes other chains 20-100 times faster than the competition. We split the indexer. We have an archiver and a squid. We were able to solve this with a speed processor that handles our bulk requests to the archive, and the archive sends back filtered data. We created a subgraph that is synced with the entire blockchain. Additionally, we created a squid that doesn't need to sync with the blockchain at all, because they have all the data in the archive. It freed up a lot of development time.
Subsquid Network's vision and development path include:
1. Subsquid aims to provide unlimited scalability and provide Web3 developers with a long-term solution for consumer and real-world use case DApps.
2. Subsquid plans to build and prepare all data from all chains, and plans to support expansion to large data chains like Solana, as well as large ecosystems like ETH and its L2s.
3. Subsquid’s token design is designed to capture this value and provide a mechanism to reduce data costs to zero for developers and analysts.
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Subsquid Network Advantages
Indexing on-chain data is crucial for building Web3 DApps and analysis dashboards. Subsquid Network’s advantages include:
Comprehensiveness: Subsquid Network and its subproducts provide a fast and cost-effective way to extract and index historical data, even from lesser-known chains.
Low Cost: Subsquid Network says it can reduce data ingestion and indexing costs by up to 90% compared to indexing directly through RPC providers like Alchemy or Infura. Finally, by using Subsquid Cloud, developers no longer need to worry about the cost and hassle of indexing infrastructure maintenance.
High performance: Subsquid is modular — on-chain data is extracted from a decentralized data layer (the Subsquid network) rather than directly from blockchain nodes. It makes indexing 100 times faster and ensures data consistency and reliable indexing even for small networks.
Development-friendly: It is accessible using a variety of programming languages, and the stack is integrated with a comprehensive set of popular Web2 and Web3 development tools.
CoinList announced that it will launch the Subsquid (SQD) community sale at 02:00 on January 19 (UTC+ 8), and registration is now open.
Token supply: 53,480,000 SQD (4% of total);
Subsquid Token Economics: SQD
SQD is the native ERC-20 protocol token of the Subsquid Network ecosystem. The token smart contract will be deployed on the Ethereum mainnet and connected to Arbitrum One. The strategy aims to ensure that the blockchain acts as a trusted, censorship-resistant and verifiable neutral ledger to facilitate reward payments and manage access to network resources.
Specific uses include:
Aligning incentives for infrastructure providers: SQD is used to reward node operators who contribute computing and storage resources to the network.
Governance of Network Participants: The SQD token design includes built-in node management, facilitating unauthorized selection of trusted operators to receive rewards through delegation.
Fair resource consumption: Data consumers in the decentralized data lake can increase rate limits by locking SQD tokens.
Network Decision-Making: SQD token holders can participate in governance and have the ability to vote on protocol changes and other proposals.
The token distribution and lock-up status of SQD are as follows:
Pre-seed investors - 12% - locked up for 6 months after TGE, 20% released, then unlocked linearly over the next 24 months;
Seed round investors -16.3% - locked up for 6 months after TGE, 20% released, then unlocked linearly over the next 24 months;
Strategic I round investors -4.6% - unlocked linearly 12 months after TGE;
Strategic Round II investors -2% - locked up for 6 months after TGE, 25% released, then unlocked linearly over the next 18 months;
Team - 15% - locked for 6 months after TGE, 20% released, and then unlocked linearly over the next 24 months;
Treasury -28.1% - unlocked linearly 36 months after TGE;
Liquidity Treasury -5%- for market making and providing CEX/DEX liquidity;
Node rewards -10% - unlocked linearly 84 months after TGE;
Community sales -5% - TGE releases 20%, unlocked linearly over 6 months.
Focus on the primary and secondary markets of the cryptocurrency circle. Dedicated to researching primary skyrocketing currencies and secondary high-quality potential currencies. V: wu354133. No threshold, no fees, no exchanges, no trading links.
