Subsquid Secures $17.5 Million in Funding and Partners With Google Ahead of Token Launch
Subsquid, a leading Web3 data access layer, has secured $17.5 million in funding and forged a partnership with Google ahead of its highly anticipated token launch. The financial boost will support the development of Subsquid’s innovative data indexing technology, aiming to revolutionize blockchain data accessibility.
Subsquid’s Integration with Google BigQuery
One major highlight of this development is Subsquid’s integration with Google BigQuery, offering developers new capabilities to analyze blockchain data by incorporating its software development kit with Google’s data analytics platform. This partnership provides enterprises and big data analysts with a robust and reliable blockchain data source.
Following the Success of Subsquid’s Testnet
The partnership follows the successful deployment of Subsquid’s testnet, with participation from over 70,000 users and more than 20,000 indexers. The platform has secured key integrations with players like Berachain, Neon EVM, CORE, and Starknet, solidifying its position in the industry. The record-breaking sale on CoinList raised $6.3 million in just 19 minutes, contributing to the overall funding of $17.5 million and attracting new token holders.
SQD Token to List on Major Exchanges on May 17
Subsquid announced that its native token, SQD, would be listed on multiple tier-one cryptocurrency exchanges on May 17, 2024. The SQD token will be available for trading on Gate.io, Bybit, KuCoin, CoinList, and MEXC Global, with markets opening at 8:00 UTC. The initial launch price is set at $0.094. SQD is integral to the Subsquid ecosystem, enhancing liquidity and accessibility, aligning incentives among infrastructure providers, rewarding node operators, and facilitating node curation and protocol governance.
Industry Support for Subsquid
Prominent investors like Blockchange, Hypersphere, Zee Prime, DFG, and Lattice played a pivotal role in the recent funding rounds. Jack Platts, Co-Founder of Hypersphere, highlighted the importance of access to data for network and protocol developers. With the token launch approaching, Subsquid co-founder Dmitry Zhelezov emphasized the broader implications of the funding, envisioning permissionless data access for anyone building in the Web3 space.
Hot Take: Subsquid Poised to Revolutionize Blockchain Data Access
With substantial funding, strategic partnerships, and a highly anticipated token launch, Subsquid is set to revolutionize blockchain data accessibility. The integration with Google BigQuery and the upcoming listing of the SQD token on major exchanges signify significant milestones for Subsquid in its mission to transform blockchain technology and data usage within the Web3 community. As Subsquid continues to advance, it’s paving the way for a decentralized and innovative approach to data access in the evolving blockchain landscape.
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