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Tokens are listed on Binance Alpha and Coinbase. How big is SQDs data lake ambition? | Bee Network

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Tokens are listed on Binance Alpha and Coinbase. How big is SQDs data lake ambition? | Bee Network Login Trending News Meme Launchpad AI Agents DeSci TopChainExplorer For Newbee 100x Coins Bee Game Essential Websites Must-Have APP Crypto Celebrities DePIN Rookies Essential Trap Detector Basic Tools Advanced Websites Exchanges NFT Tools Hi, Sign out Web3 Universe Games DApp Bee Hive Growing Platform AD Search English Recharge Coins Login Download Web3 Uni Games DApp Bee Hive AD home•Analysis•Main text Tokens are listed on Binance Alpha and Coinbase. How big is SQDs data lake ambition?Analysis9mos agoUpdateWyatt 31,624 34 Original | Odaily Planet Daily ( @OdailyChina )

Author: Wenser ( @wenser 2010 )

Recently, Binance Alpha announced the launch of SQD tokens. Users with 210 Binance Alpha points can claim 424 SQD tokens by consuming 15 points, which is worth about $80, a bowl of luxurious pork trotter rice. Many people are curious about this project: Why can this project, which focuses on the concept of AI Agent Data Lake, be favored by the Binance Alpha platform?

At the same time, Coinbase also officially announced that it will soon launch the SQD token. It is worth noting that the contract address of the former (BSC chain) is 0xe50e3d1a46070444f44df911359033f2937fcc13 ; the contract address of the latter (Arbitrum) is 0x1337420dED5ADb9980CFc35f8f2B054ea86f8aB1 .

Odaily Planet Daily will briefly introduce SQD ( @helloSQD ) listed on Binance Alpha in this article for readers reference.

helloSQD: A decentralized data network that seizes opportunities in the AI era Starting point SQD past: blockchain query node framework to AI Agent data lake As early as 2021, Subsquid (the predecessor of SQD) officially announced the completion of a US$3.8 million seed round of financing . At that time, the round was led by Hypersphere Ventures, and Zeeprime Capital, Lattice Capital, Illusionist Group, Digital Finance Group (DFG), Jsquare, SMAPE Capital, 0x Ventures, Signum Capital, Bware Labs, Signal Ventures, D 1 Ventures, Faculty Group, DIA Association, Zeitgeist, Chainflip, Astar Network, Shiden Network, KodaDot and others participated.

At that time, the project was positioned as a blockchain query node framework based on Substrate, and planned to launch a new blockchain indexing technology in February 2022. At that time, the project was mainly committed to solving the problems of high cost, low efficiency, and lack of transparency in the process of relying on centralized API services (such as The Graphs hosting services) in traditional blockchain data queries; it was committed to helping developers access and process on-chain data in a low-cost and high-efficiency manner. Later, it also reached cooperation with Zeitgeist, a Polkadot ecological prediction market , and NewTribe Capital, a blockchain venture capital fund .

However, due to the natural limitations of the data query node track, its application and cooperation scope are limited to a narrow framework. The Subsquid project is in a quiet development stage. Later, it participated in the $6 million Series A financing of Bware Labs, a distributed API infrastructure startup. In the past two years, with the rapid development of the AI field, Subsquid (hereinafter referred to as SQD) has gradually become one of the data supports in the field of AI Agents based on the original decentralized data network.

Recently, SQD also announced a partnership with Deutsche Telekom MMS, which will run dedicated worker nodes as part of Subsquids decentralized data lake to contribute to improving the security and efficiency of blockchain data retrieval and delivery.

In short, SQDs main core advantages include:

Decentralized Data Lake: SQD stores and indexes blockchain data through a distributed node network, ensuring high availability and censorship resistance of data.

High-performance query: The project has developed a proprietary Squid SDK that allows developers to customize data query logic in a flexible way, significantly improving query speed compared to traditional solutions.

Cross-chain compatibility: supports multiple mainstream public chains (such as Ethereum, Arbitrum, BSC, etc.), and plans to expand to more L1 and L2 networks.

Low cost: Through decentralized architecture and economic incentive model, SQD significantly reduces the cost of data access, which is particularly suitable for small and medium-sized developers and DApp projects.

SQDs multi-chain address: from Arbitrum to Base to BSC By the time it returns to the market, it is already early 2024. CoinList announced that it will soon launch the Subsquid (SQD) community sale . At that time, the public sale price was $0.094 per SQD token, and the token supply was 53,480,000 SQD tokens (accounting for 4% of the total supply); the minimum subscription amount was $50 and the maximum was $2,000 (only USDT/USDC). Subsequently, the TGE of the project was carried out as scheduled on May 17, 2024. The token was listed on Coinbase, and the contract address was 0x1337420dED5ADb9980CFc35f8f2B054ea86f8aB1 .

In March of this year, SQD officially announced that the token will soon be expanded to the Base network, and the token contract address is 0xd4554bea546efa83c1e6b389ecac40ea999b3e78 .

On June 2, the day when the SQD token was launched on Binance Alpha, the SQD official issued another announcement that the official token contract address of the SQD token on the BSC network is 0xe50e3d1a46070444f44df911359033f2937fcc13 . Users can bridge the SQD token from the Arbitrum chain to the Binance Smart Chain (BSC) through the Wormhole Portal.

Overall, SQD is the native token of the Subsquid network, designed to incentivize network participants and support the operation of the decentralized data economy. The main functions of the SQD token include:

Data access fees: Developers pay SQD tokens to obtain blockchain data, reducing data query costs;

Node incentives: Data node operators receive SQD token rewards by providing indexing and query services;

Governance: SQD token holders can participate in the decentralized governance of the network and decide on protocol upgrades and key parameter adjustments;

Staking: Users can support network security and earn returns by staking SQD tokens.

The SQD token is designed to build an efficient and transparent decentralized data market through economic incentive mechanisms, breaking the monopoly of traditional centralized data services.

The future of SQD: leveraging data to drive AI, Solana ecosystem, and TradFi sector
According to SQD official information , the current status of the project and future plans are as follows:

SQD project achievements: Fundraising exceeded US$30 million, TVL exceeded US$80 million Raised over $30 million;

Indexing > 1 million blocks/second;

4 million queries per day;

3.5 TB of data was provided in the last 24 hours alone;

3000 worker nodes;

6,500 delegates;

Over $80 million TVL;

3000 TB database network capacity;

Data for over 200 chains, including EVM, Substrate, Fuel, Tron, and Hyperliquid;

Blue chip partners including @PancakeSwap which powers over $7B TVL using SQD index data.

At the same time, SQDs data capacity is so huge that, for comparison, Wikipedia currently contains 410 TB of information, which means that SQD can store it seven times and still have room.

SQD official partner

SQD future development: AI, Solana ecosystem, and traditional finance
Based on the ever-increasing data demand in the future, billions of AI agents will soon be launched.

The first case of SQD data x AI is the trading AI Agent SQDGN built based on the Virtual ecosystem .

In addition, SQD plans to release a Solana product in the future to achieve real-time transmission of data streams and provide historical data dating back to January 2024.

Finally, in response to the TradFi data that will soon be uploaded to the chain, SQD officials plan to release an institutional-level data platform this month, marking their first foray into the traditional financial field.

In short, SQD aims to significantly reduce the overall cost of managing and accessing big data, which will shine in the current and future AI era.

This article is sourced from the internet: Tokens are listed on Binance Alpha and Coinbase. How big is SQDs data lake ambition?

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