SubQuery, a data indexing solution that works within Polkadot, announced that its network would be available on their Acala parachain. SubQuery intends to be the first external application to launch with Acala, while its token SQT has a similar goal.
SubQuery had to choose a host parachain ahead of the launch of its public network scheduled for early 2022. Therefore, we considered multiple options before deciding to extend the current partnership with Akala, which is why we launched our SubQuery network on Akalas Polkadot based DeFi protocol.
The upcoming EVM+ launch was a major contributing factor for SubQuery’s decision.
SubQuery prioritises its community, both investors and developers working on all its projects.
SubQuery’s token generation event (TGE) will allow investors from the Ethereum ecosystem to invest in SQT using Metamask since the network was launched on an EVM compatible chain.
Users who have EVM+ can link their Polkadot addresses to their Ethereum addresses hence no need to manage many accounts.
Acala is famous for its technical prowess in the Polkadot ecosystem. The subQuery will work alongside the core Acala development team to install the maiden version of SubQuery Network as a smart contract in Acala’s EVM+.
SubQuery intends to push Acala’s EVM+ to its limit during an incentivised network test launch to ensure it can scale to billions of API requests.
The Founder and CEO of SubQuery, Sam Zou, said,
We have ambitious growth plans, but our home will always be Polkadot. By partnering with Acala, the best DeFi platform on Polkadot, we have absolute confidence in their ability to help us not only in our token launch but also in future areas such as micropayments for indexers across networks.”
Finally, both Acala and SubQuery have the same vision of growing the Polkadot ecosystem to help the world progress towards a decentralised future. The partnership between the two projects feels like more of natural evolution, given their trust-based relationship began when SubQuery was founded and remains strong to date. The two projects recently collaborated on a joint hackathon with Encode Club. They also operate Acala SubQuery Projects, which tracks the data generated on Acala and Karura in real-time. Acala’s Co-Founder, Bette Chen, explained.
Acala will play the role of DeFi hub for Polkadot and a landing pad that aggregates assets and liquidity from a variety of blockchains. We are excited to be able to continue our close relationship with SubQuery and launch the SQT token and SubQuery smart contracts on our platform.”