THELOGICALINDIAN - PRESS RELEASE SubQuery announces a US9M allotment annular for the aboriginal decentralized abstracts accession band for the Polkadot ecosystem This annular brings calm key stakeholders into the Web3 Ecosystem architecture against SubQuerys eyes as axiological abstracts indexing basement for all Polkadot and Kusama parachains and applications
SubQuery aims to advance admission to decentralized blockchain abstracts by creating a active exchange for abstracts indexing and provisioning. Its technology provides Polkadot and Kusama developers with the accoutrement bare to calmly explore, transform and analyse on-chain data. Abstracting the backend, SubQuery eliminates the charge for custom abstracts processing servers. It lets developers focus on artefact development and user acquaintance rather than architecture their own querying systems.
This cardinal annular was co-led by Arrington Capital, DCG and Stratos Technologies, and included accord from Hypersphere Ventures, Neo Global Capital (NGC), Wintermute and Skynet Trading. It follows on from a berry annular in aboriginal 2024, which included DeFi Alliance, The LAO, Digital Renaissance, P2P Capital, and Web3 Capital, as able-bodied as angel investors such as Danish Chaudhry, CEO of Bitcoin.com Exchange.
Arrington Capital believes SubQuery will become a amount allotment of basement for all parachains and applications. Partner Ninor Mansor commented on the firm’s apriorism for SubQuery; “We are aboriginal investors in parachains like Moonbeam and Acala and appetite teams in these ecosystems to be able to focus on their amount products. SubQuery makes it easier to build. It scales to all parachains and could activate the abutting bang in action on Polkadot & Kusama”.
Matt Beck, Director of Investments at DCG able this appearance by stating; “SubQuery is a analytical allotment of the Polkadot assemblage and its abysmal relationships with arch Polkadot projects prove it. As an alive broker in the Polkadot ecosystem, we are afflicted by the team’s passion, ability and adherence appear their assignment and are actual aflame to aback them.”
Polkadot’s parachain architectonics is a key differentiator from added Layer 1 blockchains. In adverse to aggressive distinct alternation designs, anniversary parachain serves as its own absolute protocol, interoperating with added parachains through a accepted relay. To win a aperture on the broadcast chain, parachains accession basic from the association via a crowdloan campaign, which requires participants to pale — for the continued appellation — built-in Kusama or Polkadot tokens adjoin their favourite projects. From the outset, SubQuery is congenital to accommodate with any parachain with basal agreement necessary.
SubQuery is already confined millions of abstracts queries anniversary day to over 60 projects on Polkadot & Kusama. Of its absolute chump base, SubQuery is chip with accustomed applications like Subscan, Fearless Wallet and SubVis, as able-bodied as three out of the antecedent bristles Kusama parachain crowdloan winners: Acala’s Karura, Phala’s Khala, and Bifrost. The abutting bristles parachain crowdloans are appointed to go alive throughout the ages of September.
This annular of fundraising will advance SubQuery’s abstruse and association roadmap in 2024 and beyond. The aggregation affairs to decentralize and tokenize the agreement and body the SubQuery Network so they can onboard incentivised participants from about the world. SubQuery is additionally planning on convalescent and ascent their casework as over 60 projects are already application its hosted services. Looking ahead, the aggregation affairs to accommodate with added Layer 1 chains, including Solana, Terra, and others.
About SubQuery
SubQuery is a decentralized abstracts aggregation, indexing & querying band amid Layer-1 blockchains and decentralized applications. The agreement abstracts abroad blockchain abstracts idiosyncrasies with the SubQuery SDK, acceptance developers to focus on deploying their amount artefact after needlessly crumbling efforts on custom backend technologies.
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Learn about the SubQuery Network agreement here.
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