SQD

SQD is the native token of Subsquid Network, a decentralized data lake and query engine built to give software developers fast, permissionless access to blockchain data. The project targets builders of decentralized applications and analytics tools who need to index and retrieve on-chain information without relying on centralized API or RPC providers. Subsquid positions itself as an open, neutral alternative to monolithic indexing frameworks that have struggled to keep pace with the expanding multi-chain environment.

The network uses a modular architecture secured by zero-knowledge proofs, which allows it to scale its data-querying capacity across many chains simultaneously. SQD functions as the token that coordinates participation within this decentralized network, operating across several ecosystems including BNB Chain, Arbitrum, and Base. The data provided does not include a named consensus algorithm or block time, so the precise validator or node mechanics cannot be described beyond what the project documentation states.

The data provided does not include a fee stream — there are no figures for protocol revenue, fees collected, or distributions to token holders stored on this page, which means fee-based valuation measures cannot be calculated for SQD here. What the data does show is that approximately 97.76 percent of the maximum supply of 1,337,000,000 tokens is already in circulation on a point-in-time basis, leaving a dilution overhang of roughly 2.30 percent of supply still to be issued. The fully diluted valuation sits at about 1.02 times the current market capitalization of roughly 40 million dollars, reflecting how little remaining supply exists. The 24-hour turnover rate stands at 2.82 percent of market capitalization over the most recent 24-hour period recorded.