Subsquid

• SQD Network is a decentralised data lake and query engine for blockchain data.

• It indexes chain data and serves it to applications at lower cost than running dedicated infrastructure.

• SQD is used for query payments and staking by data workers.

• Fixed supply of about 1.34 billion SQD, allocated 28.1% to the treasury, 15% to the team, roughly 35% across pre-seed, seed and strategic backers, 10% to worker rewards and 5% to the community sale.

• Workers stake SQD to serve data and earn from queries.

Pros:

• Query costs are materially lower than running dedicated indexing infrastructure.

• Supports many chains rather than one ecosystem.

• Established developer usage before the token launched.

Cons:

• Competes against an entrenched indexing incumbent with far more integrations.

• Data infrastructure pricing is under structural pressure.

• Value capture depends on query volume that must be won from incumbents.

• Exposure to blockchain data infrastructure with a cost advantage.

• Multi-chain coverage rather than single-ecosystem.

• Weigh the incumbent's entrenched position.

• A decentralised data lake serving historical chain data at costs well below dedicated indexing infrastructure.

• Applications needing historical blockchain data must run their own indexers, which is expensive and operationally demanding.

• A shared indexed data layer removes that requirement.

• Founded by Dmitry Zhelezov and Marcel Fohrmann.

• Backed by DFG, Hypersphere and Zee Prime Capital.

• SQD was sold in an oversubscribed public sale on CoinList that raised about $6.3 million, with the token listing on 17 May 2024 at $0.094.

• Entrenched indexing incumbent with more integrations.

• Data infrastructure pricing under structural pressure.

• Query volume must be won from established providers.

• Worker economics depend on sustained query demand.