SQD

SQD is the native token of Subsquid Network, a decentralized data lake and query engine that gives software developers permissionless access to blockchain data. The project targets Web3 developers who need to index on-chain data, build decentralized applications, or run analytics without relying on centralized API and RPC providers. Subsquid positions itself as a scalable alternative to older, monolithic blockchain indexing frameworks that struggle to keep pace with a rapidly expanding multi-chain environment.

Subsquid Network uses a modular architecture secured by zero-knowledge proofs to coordinate data storage and querying across a decentralized network of nodes. The SQD token operates across several ecosystems simultaneously, including BNB Chain, Arbitrum, and Base, reflecting its multi-chain design. Beyond these structural points, the data stored for this asset does not include details about a specific consensus algorithm or block production schedule, so a fuller mechanical description is not available here.

The data stored for SQD does not include a fee stream, meaning there are no figures available for protocol revenue, fee payers, or fee recipients. This absence means that fee-based measures such as revenue multiples or yield calculations are not applicable to this asset as represented on this site. What is recorded is a circulating supply of approximately 1.29 billion tokens against a maximum supply of 1.337 billion, placing the supply-issued percentage at 96.58% on a point-in-time basis, with a dilution overhang of roughly 3.57% of max supply still to be released. The fully diluted valuation stands at 1.036 times the current market capitalisation, also on a point-in-time basis, reflecting the small remaining unlock.