Polkadot’s Leading Data Indexing Service The SubQuery Network Set to Launch on Acala

By November 25, 2021DeFi
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Polkadot’s Leading Data Indexing Service The SubQuery Network Set to Launch on Acala

Leading data indexing solution in the Polkadot ecosystem, SubQuery today announced the launch of SubQuery Network on the Acala parachain.

SubQuery Network is Coming to Acala

SubQuery, a decentralized data aggregation, indexing, and querying layer between Layer-1 blockchains and decentralized applications today announced it would launch its SubQuery Network on the Acala parachain.

Notably, the announcement also means that SubQuery and the SQT token could be the first external application and token to launch with Acala.

SubQuery is primed to launch its public incentivized network in early 2022 and, as such, has been busy looking for a compatible host parachain. The network finally chose Acala due to three primary reasons – the community access, domain/technical expertise, and the existing robust synergies between SubQuery and Acala.

Another significant reason behind SubQuery’s decision to go with Acala was its upcoming EVM+ launch.

SubQuery is keen on launching on an EVM-compatible chain to enable seamless participation of investors from the Ethereum ecosystem for its token generation event (TGE). Interested investors can use the Metamask wallet to participate in SubQuery’s TGE.

Interestingly, Acala’s EVM+ users can also link their Ethereum wallet addresses with the Polkadot addresses to save themselves from the hassle of managing multiple accounts.

SubQuery to Scale to Billions of Daily API Requests

SubQuery aims to leverage Acala’s unrivaled expertise in the Polkadot ecosystem and, accordingly, will work closely with the core Acala development team to deploy the first version of the SubQuery Network as a smart contract on Acala’s EVM+.

SubQuery is ready to test the limits of Acala’s EVM+ with regard to performance and load testing to ensure that it is efficient enough to scale to billions of daily API requests.

Commenting on the development, Sam Zou, the Founder, and CEO of SubQuery 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.”

Similarly, Bette Chen, the Co-Founder of Acala, noted:

“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.”

The list of alliances between Acala and SubQuery is a testimony to the projects’ commitment to moving the world toward a decentralized future.

For instance, both SubQuery and Acala recently partnered on a joint hackathon with Encode Club and have operated Acala SubQuery Projects which dynamically track data created on Acala and Karura.

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