Blockchain indexing service Subsquid’s native token SQD is set to be launched on multiple cryptocurrency exchanges this Friday, according to co-founder Marcel Fohrmann. The utility token will support Subsquid’s network of independent node operators, who are responsible for processing large amounts of on-chain data through their collective computing power. In January, Subsquid conducted a token sale worth $6.3 million through CoinList.

The project has raised a total of $17.5 million across various funding rounds, with participation from investors such as Blockchange, Hypersphere, Zee Prime, DFG, and Lattice. Subsquid, along with a few other teams, focuses on indexing on-chain activity to provide valuable data for blockchain developers. While initially operating in the Polkadot sector, Subsquid has expanded into the Ethereum and Solana ecosystems.

Subsquid’s CEO Dmitry Zhelezov mentioned that their clients include academic researchers, analysts, and developers who utilize the platform to monitor on-chain activities related to smart contracts, NFT exchanges, and Perps DEXes. In an interview with Crypto, Fohrmann highlighted the importance of having a native token to incentivize node operators and network participants, emphasizing the project’s need for a token-based model.

The SQD token launch is expected to take place on Friday, but the exact timing may be subject to change depending on the schedule of a major exchange conducting another token launch. Overall, Subsquid’s upcoming token launch and its continued efforts in indexing on-chain activities reflect the growing demand for reliable blockchain data infrastructure.

从专业的角度来看，Subsquid的SQD代币的发行将为其网络的独立节点运营商提供更多支持，有助于构建可靠的区块链数据基础设施。随着加密货币行业的持续发展，对于可靠的链上数据处理和索引服务的需求不断增加，Subsquid在这一领域的发展前景值得关注。同时，投资者和用户在关注代币的发行情况时，也应谨慎评估风险和收益，理性对待加密货币投资。