Data Indexer Subsquid Plans to Launch SQD Token Friday

As an analyst, I would describe it this way: I analyze the role of utility tokens in supporting networks like Subsquid. Subsquid’s network relies on a group of independent node operators whose combined computing power processes vast amounts of on-chain data. In January, Subsquid raised $6.3 million by selling utility tokens to the public via CoinList, according to a press release.

The announcement stated that the project has raised a total of $17.5 million through various funding rounds involving Blockchange, Hypersphere, Zee Prime, DFG, and Lattice.

Subsquid is among a small group of teams focusing on indexing on-chain activity to benefit blockchain developers by making this data accessible. Originating in the Polkadot ecosystem, it has expanded into Ethereum and more recently introduced a beta version for Solana.

As an analyst, I’d rephrase it as: I’ve analyzed Subsquid’s client base, which comprises primarily developers who leverage our tool to monitor activity on their smart contracts, the underlying technology for NFT marketplaces and decentralized Perps exchanges. Academic researchers and I are also part of this group.

As a researcher studying the development of Subquid, I’ve discovered that the team recognized the importance of having a token early on in order to encourage individuals to operate nodes and contribute to the network’s data indexing process. However, it took some time for the project to actually implement this solution.

As a researcher, I’ve uncovered that the SQD token launch is almost certain to take place on Friday according to Fohrmann’s latest update. However, there’s a possibility that this date may be pushed back to the following week or even later due to scheduling conflicts with “one big exchange” which has another token launch slated for Thursday.