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Evan Luthra
Sep 28, 2021
by Evan Luthra

SubQuery: The First Decentralised Data Aggregation Layer for the Polkadot Ecosystem

Decentralised Data Aggregation
As blockchain technology and blockchains are becoming increasingly popular, the need to process and query data is also rising and it is an important aspect of the technology. Querying is slow at the moment and is hard to carry out because decentralized systems store data across networks. Decentralization, autonomy and privacy are some of the key tenets of Web 3 technology and if that dream is to be fully realised, projects, businesses and platforms built with the technology need to be as fast (even faster) than their centralized counterparts. 

The need for a service that allows blockchain networks to reliably find and consume data in quick time is on the rise. And just like what a project like The Graph is doing for the Ethereum blockchain with the GraphQL, a couple of projects are trying to replicate the same for other blockchains. One project that is doing this for the Polkadot network is SubQuery. 

What is SubQuery? 

SubQuery is a data-service provider that collects and aggregates data from Polkadot and Substrate projects and it serves up this data in a well arranged manner for developers to use easily in developing projects. Built by the team at OnFinality (a SaaS platform that provides nodes for blockchain users to launch and also over these users access to a large range of blockchain protocols), SubQuery operates between the layer-1 blockchains like Acala and decentralised applications (dApps). 

Put simply, SubQuery is an open-source project that allows users to run Indexers across their chain that helps them build datasets that can be queried with GraphQL. These tools include an interface with a command line that allows projects to generate their own SubQuery Project and this defines how the indexer should aggregate their network. 

The ultimate aim is to help Polkadot/Substrate projects build better dApps —in quick time too— by allowing anyone to find data when they are needed and consume the data faster. SubQuery wants to make this a go-to piece of infrastructure for the Polkadot/Substrate ecosystem. Already, SubQuery serves millions of data queries each day to over 60 projects on both Polkadot & Kusama. SubQuery is integrated with applications like SubVis, Subscan, Fearless Wallet and three of the five Kusama parachain crowd loan winners: Bifrost, Acala’s Karura and Phala’s Khala.

Our Services

  • SubQuery Software Development Kit (SDK) 

    SubQuery’s open-source SDK allows users to create and run their SubQuery projects. With this feature, users have the power to build their GraphQL API for their dApp and even run it themselves.

    • SubQuery Projects

      Developers can deploy their project to our SubQuery’s performance nodes. The subQuery will take charge of running and managing production infrastructure for the project and this will be done for free. 

      • SubQuery Explorer

        The SubQuery Explorer is online and was made by its community and hosted by the platform. Users and developers alike can try out different SubQuery Projects online on the Explorer, 

        • SubQuery Network

          For SubQuery, the tokenization and decentralisation of the network is the next big leap. The Network will tokenize its service and reward all participants fairly and transparently. 

          SubQuery $9 Million Funding Round

          SubQuery announced that it raised US$9M funding in a recent strategic raise. The round saw key stakeholders in the Web3 ecosystem investing in SubQuery’s vision. Some of the VCs involved included Arrington Capital, Stratos Technology, DCG, Gumi Crypto and Hypersphere Ventures amongst others. It is hoped that this round of fundraising will accelerate SubQuery’s roadmap in 2021 and beyond. Projects like planned integration with other Layer 1 chains, like Terra, Solana and others are also I'm the works. 

          SubQuery Token ($SQT)

          $SQT is SubQuery’s native token and this will power the SubQuery network. It will serve as an incentive for participation, as well as a medium of exchange for every transaction within the SubQuery network. Holders of $SQT are not entitled to any promise of profit, revenue or dividends. 

          Some of the use cases of $SQT includes:

          • Means of Payment for Data Services

            SQT will serve as a means of payment for data coming from SubQuery Indexers. When putting up their adverts to serve requests for specific SubQuery projects, an Indexer has to put up their prices and customers will have to lock the number of tokens that are necessary to make that request. The tokens will be distributed to the Indexers at the end of a spending period. SubQuery, as part of its work to tokenize the ecosystem, will be implementing a micropayment network on Substrate that is conditional. 

            • Indexer Staking

              Participants must stake $SQT against a particular SubQuery project they are providing indexing services to earn money from query revenue as Indexers. The aim is to use the Cobb-Douglas production function in determining the query fee revenue that is being distributed to each Indexer. 

              • Indexer Delegation

                $SQT token holders will be allowed to delegate their own $SQT tokens for staking. This will help increase Indexers’ query fee revenue. On a particular SubQuery, the Indexer has to advertise a Query Fee Revenue Share Rate and this will reflect the share of revenue that the delegation pool will receive from that Indexer for the specified Project. This revenue will then be shared according to the value of the individual delegation in the pool. 

                • Purchase Order Contracts

                  One function of SubQuery is as a marketplace. Sellers (Indexers) and buyers (Consumers) can meet in the marketplace to exchange data for $SQT tokens. 

                  Proposed Roadmap 

                  Proposed Milestone 1

                  • WASM Contract v1 complete.

                  • Subquery-coordinator for indexer

                  • Subquery-client-sdk for consumer

                  • Launch an internal testnet program

                    • Proposed Milestone 2

                    • Start testing micropayment internally

                    • Subquery Network Explorer Beta

                    • Public (incentivised) testnet launch and 3-months campaign.

                      • Proposed Milestone 3

                      • Mainnet launch, deploy to partner parachain

                      • Complete gateway

                      • Completing governance module

                        • Proposed Milestone 4

                        • Migrate to a self-owned parachain that will allow for enabling all features

                          • You can follow SubQuery on:

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                          SubQuery: The First Decentralised Data Aggregation Layer for the Polkadot Ecosystem
                          Evan Luthra
                          Evan is a tech-obsessed thought-leader who has spoken at 100s of conferences around the world. He has extensive knowledge and experience in mobile apps and his company, EL Group International, has developed and delivered mobile apps for major Fortune 500 companies. He has also received an honorary Ph.D in Blockchain for the impact he has made in the industry from launching Blockchain Schools to Blockchain Coworking spaces and having spoken at 50+ Blockchain events. As a highly accredited Angel Investor, Evan believes in stepping out of his comfort zone and exploring the power of conceptualization, innovation and execution.

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