Blockchain indexing service Subsquid plans to launch SQD token this Friday

BlockBeats news, on May 15, CoinDesk reported that the blockchain indexing service Subsquid plans to list its native token SQD on multiple cryptocurrency exchanges this Friday. The utility token will support Subsquid's network of independent node operators, whose collective computing power can parse a large amount of on-chain data. Subsquid co-founder Marcel Fohrmann said that the issuance of SQD tokens "is 99% certain to take place on Friday" and may be postponed to next week or the week after next at the latest.

In January this year, Subsquid sold $6.3 million worth of tokens to the public through CoinList. To date, the project has raised $17.5 million through multiple rounds of financing, with investors including Blockchange, Hypersphere, Zee Prime, DFG and Lattice. Subsquid is one of the few teams that provides on-chain activity indexes for blockchain developers.