Subsquid's utility token, SQD, aims to support independent node operators parsing on-chain data. The project raised $6.3 million in January and $17.5 million overall from investors like Blockchange and Hypersphere.
Subsquid enables developers to monitor smart contracts, NFT exchanges, and Perps DEXes by indexing on-chain activity in Polkadot, Ethereum, and Solana. Its clients include academic researchers and analysts.
CEO Dmitry Zhelezov highlighted the importance of SQD token to incentivize node operators for data indexing. The launch is imminent, although possibly affected by a big exchange's token launch timing.
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