Subsquid - Collects $3.8M in Seed Round led by Hypershere Ventures

1/ Subsquid - a query node framework for Substrate-based blockchains, has closed a $3.8-million seed round.

Led by Hypersphere, this round also include the participation of notable participants: ZeePrime Capital, Illusionist Group, Chainflip, DFG, 0x Ventures, Faculty Group, etc.

2/ Subsquid is a kind of project invented to connect different softwares, in a distributed network. It’s like a glue between softwares that was not designed to connect with each other.

3/ Subsquid, as stated on their website, is an open-source framework for building powerful and tailored GraphQL APIs for your blockchain state history. Or you could simply say, it’s an API tool for Web3.0, and it’s a powerful one.

4/ Subsquid offers a very fast sync time. They could process many on-chain events and transactions even if it is spreading across multiple blocks in a single batch.Their promise is to let devs get their query nodes sync in minutes, not days.

5/ Devs using Subsquid can also extend query nodes with virtually any SQL queries via custom GraphQL resolvers. Also devs automatically can get a powerful GraphQL backend. Just that? Read more!

6/ Introducing Hydra, (not that Snek!) 1st product from Subsquid. Hydra is a Substrate query node framework. It gives a smooth way to provide powerful GraphQL queries to app developers over your Substrate blockchain state & history. Hydra is a powerful tool born from Subsquid.

7/Subsquid is currently implemented by a number of Polkadot projects such as Chainflip, Hydra DX, Joystream, Subsocial, ThreeFold & Zeitgeist.

They are also preparing for their Open Ocean Council program & the transition to a DAO.

8/ Their native token $SQD, is used to power their engine to work. Supporters of the network are openly invited to be node operators, this will help to maintain Subsquid, or to become key workers.

9/ These key worker roles include : gateway operators, processors/storage providers, data oracles & finally indexers. Anyone intending to support as a worker role must stake their $SQD Staking amount will increase depending on their importance of their role and works they can accomplish. $SQD holders can delegate their token to any worker role and receive a share of revenues.

10/ $SQD usage is rewarding the network operators and workers, besides that is for governing chain, development and direction of the protocol. This lets SQD token holders have influence on the chain, which will make Subsquid a fully #decentralized DAO and driven by the community

11/ To know more about Subsquid, kindly join their website, read their Medium, or hang out on their Discord.

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