SubQuery Network- Making the World’s decentralised data more accessible.
SubQuery’s mission is to make the world’s decentralised data more accessible. We are a data-as-a-service provider that aggregates and organises data from Polkadot and Substrate projects, which serves a well-structured data for developers to use for a wide array of projects.
SubQuery proposes to enable every Polkadot/Substrate team to process and query
their data.The project is inspired by the growth of data protocols serving the
application layer and its aim is to help Polkadot/Substrate projects build better
dApps by allowing anyone to reliably find and consume data faster
The plan calls for three types of participants in the SubQuery network:
• Consumers: Consumers will make requests to the SubQuery network for
specific data and pay an advertised amount of SQT
• Indexers: Indexers will host SubQuery Projects in their own infrastructure,
running both the node and query service to index data and answer GraphQL
requests.SubQuery Network Whitepaper | 14th June 2021 5
• Delegators: Delegators will participate in the network by supporting their
favorite Indexers to earn rewards
The SubQuery Token (SQT)
They aim to establish SQT as the token which powers the SubQuery network, providing an incentive for participation as well as serving as a medium of exchange for transactions with the SubQuery network.
They have no intention for SQT to be used as a medium of exchange for goods or services outside of the SubQuery Network. SQT does not in a way represent or confer upon its holders any right to, title to, interest or participation in, the ownership, shareholding and/or management of SubQuery whatsoever.
It is no secret that the decentralized data industry is massive. We hope to differentiate
ourselves from larger players in a meaningful and advantageous way.
Flexibility- The potential of SubQuery lies in its flexibility, the users will have the
freedom to adapt and transform decentralized data to suit their needs. You as a dApp
developer needs data in a specific format tailored for your dApp, or you might want to
also show some other details in your dApp to set it apart from others.
Development Ease- You do not need to be an expert to take advantage of what SubQuery offers. The key focus of the SubQuery Foundation is to ensure that there is enough support that
anyone, from the expert blockchain team to a new hobbyist developer, can build their
Indexer/Delegator Imbalance- Among some of their competitors, they have observed that there is a serious imbalance between Indexers and Delegators in terms of the ability to change delegation rates
on the fly. They have tried to equalize this imbalance by requiring that the Indexer
advertise a decrease to the Query Fee Revenue Share Rate for an entire staking era
Purchase Orders Instead of Curators- With marketplaces like what SubQuery is proposing, where you have both buyers and sellers attempting to commoditize data, signalling demand for future supply tends to be a tricky issue. Our plan is to take a different approach, one that requires up-front
Incentives for Query Performance- To become a high-performance, mission-critical platform – we believe that the SubQuery Network must operate at the highest level. That is why our Indexer
the discovery process will include performance data (latency and uptime) for all Indexers,
and we will take steps to ensure that Consumers report on query speed when
unlocking micropayments to Indexers.
Focus on Substrate/Polkadot- Polkadot’s unique architecture means that we can focus on one protocol and be able to support multiple current and future blockchains automatically. We intend on
becoming the core data infrastructure for this ecosystem, and to unlock the power of
data for the next generation of dApps.
About the Token Distribution
The exact details of how the SQT token will be allocated and distributed are still
subject to finalization, and will be announced closer to the public sale.
There may be a small rate of inflation and newly minted tokens are expected to go directly to a treasury-like token pool, which may be in turn managed by the SubQuery Foundation. However, we anticipate that the overall ecosystem will be deflationary due to the following hypothetical scenarios:
- An Indexer is caught misbehaving or providing false information, which results in a portion of the Indexer’s portion of their staked SQT (on the particular SubQuery Project θij) being burned, or
- If no Indexer accepts a purchase order within the lifetime of the advertising period, which then results in a portion of the SQT that has been deposited as part of the said purchase order being burned
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