Subsquid: Facilitating Data Retrieval on Blockchain - An Overview and Analysis

The article introduces Subsquid, a project aiming to address the challenges of retrieving and utilizing data stored on the blockchain. It emphasizes the difficulties developers face in accessing and utilizing blockchain data efficiently. Unlike traditional databases, blockchain lacks the ability to delete or update data, making data retrieval complex.
Subsquid acts as a solution to enhance the querying, finding, and usability of data stored on various blockchain networks. It allows developers to perform queries on supported blockchain networks, similar to working with a centralized database. The project primarily targets blockchain application developers, offering them a more efficient and cost-effective way to access and utilize blockchain data.
Key Points:

1. Blockchain Data Retrieval Challenges:
   • Blockchain's decentralized nature and lack of an internal query language pose challenges for developers seeking to retrieve and use data efficiently.
   • Subsquid aims to streamline the process, making it more accessible and cost-effective for developers.
2. Subsquid Features:
   • Supports over 100 blockchain networks, including EVM and Substrate-based chains.
   • Utilizes Typescript language in its SDK, offering technical advantages over The Graph's Assembly Script.
   • Boasts approximately 100 times faster data indexing speed compared to The Graph.
   • Allows simultaneous reading of unverified data in blocks.
   • Works with off-chain data sources, providing compatibility with BigQuery, Parquet, and CSV formats.
3. Project Development Status:
   • Currently in the second phase of testing on Testnet 2, providing a tangible product for evaluation rather than vague promises.
   • Mainnet transition scheduled for Q2 2024, with the token sale expected on May 15, 2024, according to Coinlist.
4. Token Information and Sale:
   • The native token, SQD, is an ERC-20 token designed for use on the Ethereum network.
   • A total of 1.37 billion tokens will be in circulation, with various lock-up periods for different allocation categories.
   • The sale includes allocations for Pre-Seed, Seed, Strategic, Strategic II, Team, Treasury Reserve, Liquidity Reserve, Worker Rewards, Community Sale, Testnet Participants, and Testnet Workers.
5. Token Sale Details:
   • The token sale is set to occur on Coinlist on January 18, 2024, with a sale price of $0.094 per token.
   • Investors can contribute between $50 and $2000, with a deadline for depositing funds in their Coinlist accounts by January 15, 2024.
6. Market Cap Projection:
   • Approximately 7.5% of the total supply will be in circulation after the Token Generation Event (TGE), resulting in an estimated market cap of $9.65 million.
   • The fully diluted valuation (FDV) would be around $129 million if all tokens were in circulation, indicating a potential 12x increase compared to The Graph's current FDV.
7. Investment Considerations:
   • The article refrains from providing specific investment advice but encourages readers to evaluate the project's details and make informed decisions.
   • Highlights the potential of Subsquid, indicating its market cap and valuation potential compared to The Graph.

In conclusion, the article presents Subsquid as a project addressing the challenges of blockchain data retrieval, providing technical details, project status, token information, and sale details. It encourages potential investors to conduct thorough research before making investment decisions.