SubQuery
SubQuery [https://subquery.network/] is a web3 infrastructure project. Originally SubQuery is a data indexing protocol which serves as an open-source API between blockchain data and dApps and tools. The SubQuery indexer allows developers to aggregate and query datasets from blockchains to use in their decentralized applications. There are three products in SubQuery's indexer: the open-sourced SDK, the Managed Service and the decentralized SubQuery Network. In March 2024, SubQuery expanded the SubQuery Network to not only provide decentralized indexers, but also decentralized RPCs, to more broadly address centralization issues with web3 infrastructure.[1]. The native currency of SubQuery is $SQT which serves as a medium of exchange amongst the SubQuery Network participants: Consumers, Node Operators and Delegators.
History
SubQuery was launched by Sam Zou in February 2021 in the Polkadot and Kusama ecosystem. In March 2021, SubQuery raised $1.8 million as a seed round, led by investors DeFi Alliance, D1 Ventures, Hypersphere Ventures, Digital Finance Group (DFG), and The Lao[2] In September 2021, SubQuery raised an addition $9 million in a second funding round, led by Led By Arrington Capital, Digital Currency Group and Stratos Technologies[3]. A final strategic capital raise was completed in 2022 to add new investors and exchanges on the cap table.
In January 2024, SubQuery raised $5 million in a public sale of its native SQT token[4]. In February 2024, the SubQuery Network mainnet was launched on Base chain[5]
Grants
SubQuery received a Web3 Foundation Grant of 1.75 Bitcoin to build an open-sourced indexer SDK that would extract, transform, persist, and query data across all substrate-compatible networks[6]. Because of this grant, SubQuery started in the Polkadot (cryptocurrency) ecosystem.
Chain Support
After receiving the Web3 Foundation Grant in February 2021, SubQuery first integrated with the Polkadot and Kusama relay chains and then all parachains and other substrate-compatible chains.
In May 2022, SubQuery added support beyond the Polkadot (cryptocurrency) ecosystem and has since continued to integrate over 200 supported chains[7]. The expansion timeline is below:
- May 2022: Integration with Avalanche (blockchain platform)[8]
- June 2022: Integration with Cosmos, beginning with Juno[9]
- August 2022: Integration with Algorand[10]
- February 2023: Integration with NEAR[11]
- April 2023: Integration with Ethereum[12]
- October 2023: Integration with Stellar[13]
- November 2023: Integration with Concordium[14]
- January 2024 and onward: Rapid addition of EVM, Cosmos, Substrate and Bitcoin EVM network support
References
- ↑ "Evolving Web3: SubQuery Network's breakthrough: crafting the future of Web3". CoinTelegraph. 2023-12-06.
- ↑ "SubQuery Raises $1.8M Seed Round for Future Expansion". SubQuery. 2021-03-12. Retrieved 2024-06-17.
- ↑ "SubQuery Gets $9M in Series A to Improve Access to Blockchain Data on Polkadot". CoinDesk. 2023-05-12.
- ↑ "Power of the People: A Closer Look at the $SQT Public Sale Results". SubQuery. 2024-02-02.
- ↑ "SubQuery Selects Base for Upcoming Launch of the SubQuery Network". CoinTelegraph. 2024-01-25.
- ↑ "Web3 Foundation Grants — Wave 8 Recipients". Medium. 2021-02-09.
- ↑ "SubQuery's Blockchain Indexer Now Supporting 200 Supported Networks". SubQuery. 2024-06-12.
- ↑ "SubQuery Expands its Data Indexing Solution to Support Avalanche". Yahoo Finance. 2022-03-23.
- ↑ "SubQuery Expands its Decentralized Data Indexing Solution to Cosmos via Juno Integration". CoinCodex. 2022-06-09.
- ↑ "SubQuery Algorand Support --- Developer Deep Dive". SubQuery. 2022-08-17.
- ↑ "SubQuery Now Supports NEAR Protocol!". 2023-02-02. Retrieved 2024-06-17.
- ↑ "SubQuery extends its indexing service to Ethereum network". FinanceFeeds. 2023-04-06.
- ↑ "SubQuery Supports Stellar with Fast and Flexible Data Indexing". SubQuery. 2023-10-19.
- ↑ "Subquery Launches on Concordium: A Major Boost for Crypto Data Handling". Concordium. 2023-12-08.
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