SubQuery - 60M $SQT Rewards Campaign: What You Need to Know
Flexible Web3 Infrastructure, $SQT Token Incentives, & More
There’s a lot that goes into the current DeFi landscape which is not obvious to end users but crucial for developers. On the infrastructure side of things, one of the underappreciated areas within the dApp space is how data is integrated into a product offering. Most users are familiar with Oracle providers like Chainlink and RedStone, which allow protocols to access offchain data, such as prices from centralized exchanges. On the other side, there are networks responsible for fetching blockchain data, serving as decentralized indexers.
In today’s edition, we’ll discuss SubQuery, a decentralized RPC and data indexing Network, which just recently announced its 60M $SQT token rewards program for developers…
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Background on SubQuery
SubQuery nestles itself at the core of Web3 development, providing necessary services such as data indexers, RPC, and even open-source AI models. SubQuery prides itself on providing both fast and scalable infrastructure for the Web3 space. SubQuery also delivers flexibility, able to serve applications across 290+ chains. Developers can access customizable indexing, connecting with specific smart contracts and other events.
Recently, SubQuery rolled out its 60M $SQT rewards program. This essentially allows developers to earn rewards in return for their query spend. $SQT is the SubQuery Network’s native token, used by consumers to build applications. SubQuery’s services are then paid for in $SQT. On the other side are $SQT Node Operators, who provide the necessary data indexing, RPC, and AI services in exchange for $SQT. Delegators can also support specific Node Operators and split rewards with them.
The newly announced $SQT campaign is designed to support consumers, developers who are building on top of SubQuery’s infrastructure. Starting on May 1st and lasting one year, this program will reward developers in proportion to their $SQT spending. Initially, top-spending projects each month will receive rewards, with the scope of eligible projects growing as time goes on. Developers can seek to earn a significant amount, with upside limited to 10x the amount of $SQT initially spent on SubQuery services.
The team will verify the authenticity of participating teams to ensure as fair a playing field as possible. What’s more is that there are $SQT rewards pools for both Subgraph and SubQuery project deployments, rewarding both existing users of SubQuery and migrating users from The Graph, the incumbent data indexer provider in crypto today. This is a key point of focus for the team, demonstrating their desire to onboard existing developers.
In fact, targeting developers migrating from The Graph to SubQuery is something emphasized in the network documentation, with a seamless transition to SubQuery’s indexing. This rewards campaign aims to be a key catalyst for winning over developer mindshare and onboarding quality projects to SubQuery.
SubQuery also has other offerings to entice developers beyond its Indexer SDK and $SQT incentives. SubQuery includes its own AI application framework, allowing users to ship and run agentic AI apps. This can expand the potential customer base of the platform, making it easier and less monotonous to build out wallet assistants, governance agents, and more agentic use cases…
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