Celebrating a New Era for Web3 Data: Subsquid Network Rewards Campaign
Content on this page was provided by the Subsquid team
2024 is the year of the squid!
In January, Subsquid held the first CoinList token sale of the year. With $6,300,000 in SQD tokens selling in just 19 minutes, it became the fastest CoinList sale to date in the platform's history.
Prior to that, Subsquid ran an incentivized testnet on CoinList, quickly attracting thousands of participants. More than 50,000 decentralized indexers were deployed, making this quite possibly one of the largest data access infrastructure testnets ever.
In appreciation of the amazing support from the CoinList community, the Subsquid team has decided to join forces with CoinList once again to launch a rewards campaign. The campaign has a reward pool of 6,685,000 SQD (0.5% of total supply) and runs in advance of the SQD distribution which is expected to occur following SQD’s upcoming listing on CoinList.
| Subsquid x CoinList Rewards Campaign | |
|---|---|
| Program | Subsquid Points Program (“Phase 1”) |
| Participation Criteria | Anyone not from an excluded jurisdiction may join. Extra points may be awarded to users who have successfully completed a purchase of tokens in any CoinList token sale in 2024. |
| Program Start | April 15th, 2024 |
| Program End | May 15th, 2024 (Following the end of Phase 1, the points program is expected to continue, and all points will retain validity for potential future rewards programs) |
| Allocated | 6,685,000 SQD, representing 0.5% of total supply |
| Rewards Campaign FAQ | Subsquid Rewards Campaign FAQ |
| Excluded Jurisdictions | Excluded are residents of the US, Canada, and certain other jurisdictions. |
Users can join the Rewards Campaign by onboarding to the Subsquid points platform. Once onboarded, the user will be introduced to a set of on-chain and off-chain quests to earn points. Different quests are worth different amounts of points. Additionally, those users who have successfully completed a purchase of tokens in any CoinList community sale in 2024 will be eligible to receive extra points.
| Points Program | |
|---|---|
| How to Receive Points | Complete on-chain and off-chain tasks at points.subsquid.io prior to the snapshot on May 13, 2024. The more tasks you complete, the more points you get. Participants in this event who have participated in any CoinList sale in 2024 will be eligible to receive extra points. Points are immutable and on-chain. |
| Start of Subsquid x CoinList Rewards Campaign | April 15, 2024 |
| End of Subsquid x CoinList Rewards Campaign | May 13, 2024 |
| Complete Tasks By | Snapshot on May 13, 2024 |
| Rewards Date | A few weeks after the SQD listing. Follow Subsquid’s social media platforms to stay up to date on the distribution date. |
The more points you accumulate, the greater the percentage of the allocated SQD you will receive. For example, somebody who receives 2000 points will receive double the SQD rewards of someone who receives 1000.
SQD is awarded at Subsquid's sole discretion, and points do not constitute a legal claim or other right against Subsquid to receive SQD. Subsquid may terminate the Rewards Program in whole or in part at any time without notice or liability to any participant.
Rewards will be distributed as part of Subsquid’s Points Program, a long-term initiative envisaged to reward on-chain points to community members contributing to the Subsquid ecosystem. The points exist on-chain and are immutable and non-transferrable. Points will likely be used for additional rewards programs in the future to test and further develop Subsquid Network.
All points accrued in this CoinList campaign will remain valid for future rewards programs.
Web3 applications have become far too dependent on centralized RPC and API providers. Subsquid’s unique modular architecture offers infinite horizontal scalability, providing Web3 developers with a long-term solution for decentralized applications aimed at consumers and real-world use cases.
Subsquid is the most ambitious endeavor in blockchain data lakes, aiming to structure and prepare all data from all chains (envision a Google for Web3!). This initiative extends support to data-heavy chains like Solana and expansive ecosystems such as ETH and its L2s.
Subsquid is unique among data platforms and providers through its commitment to developer-friendly decentralization. For that reason, the network’s intrinsic modularity is combined with a continuously growing ecosystem of popular tools, seamlessly integrated or fully compatible with the decentralized data lake.
Presently, developers can access Subsquid Network using their preferred programming language and frameworks. They can retrieve data from virtually any source and route it to custom targets. This remarkable flexibility not only empowers Web3-native developers but also unlocks potential for large enterprise use cases.
Subsquid’s modular structure empowers developers and analysts with seamless access to blockchain data. This decentralized data lake can be accessed using a wide range of programming languages, and the stack has been integrated with a comprehensive set of popular Web2 and Web3 developer tools.
As blockchain data production surges due to innovations like alt L1s, L2s, and danksharding, the demand for network participants to store this data will intensify. As data storage and network participation grow, the value entering the Subsquid Network will increase. Subsquid’s token design is intended to capture this value and provides a mechanism that aims to bring data costs for developers and analysts down to zero.
Subsquid Network is an innovative decentralized data lake and query engine designed to offer developers performant and permissionless access to data, aiming to build a neutral and open internet rooted in Web3 principles. Secured by ZK proofs, the Subsquid network boasts a modular architecture that enables exceptional scalability and developer convenience optimized for blockchain indexing, dApp development, and analytics.
Subsquid is a response to unscalable and rigid monolithic indexing frameworks that had previously gained popularity and market traction among Web3 developers. Today, these frameworks struggle to adapt to a rapidly evolving blockchain environment. Additionally, the network serves as a highly efficient and decentralized alternative to centralized infrastructure firms, including large RPC and API providers.
