Announcing Subsquid’s Incentivized Testnet on CoinList

Adopters • Sep 27, 2023

Interested in battle-testing emerging crypto networks and earning rewards?

Subsquid is a data network designed for the future of Web3. Rapidly and cost-efficiently retrieve blockchain data from 100+ chains using Subsquid’s decentralized data lake and open-source SDK to build billion-user dApps.

Today, we are announcing Phase 1 of Subsquid’s incentivized testnet. This is an opportunity for node operators, developers, and community members to earn rewards by battle-testing the network, completing quests, and individualized efforts that contribute early to the protocol’s development.

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Testnet Overview:

Rewards:

Subsquid Labs GmbH has allocated ~2% of its token supply to the testnet. Roughly 1% or 13,300,000 SQD will be allocated to developers of indexers (squids) and other participating community members. Another ~1% or 13,300,000 SQD will be rewarded to worker node operators.

The rules to receive these rewards are as follows:

1. Developer and non-technical participants

Developers as well as non-technical participants can earn tSQD by completing quests in Subsquid’s network app. Tasks include:

(Developer) Building and deploying squids
(Developer) Migrating subgraphs to Subsquid
Test and provide feedback on app features
Engaging with the community and earning roles on Discord
Delegations

Participants will climb the Subsquid Network leaderboard as they earn tSQD, and the top 4,000 participants will receive SQD rewards at mainnet launch vesting over 6 months.

2. Worker node operators

Node runners will receive points based on the following parameters:

Number of nodes run
Node uptime
Query execution performance
Community engagement

133 worker nodes will be selected to receive 100,000 SQD following mainnet launch vested over 3 years.

Eligibility:

Eligibility for the Subsquid testnet is detailed in the “Who May Use the Services” section of the Terms and Conditions. Participation is restricted to jurisdictions where it is permitted by applicable law. To be eligible for rewards, participants must undergo KYC, KYB, and AML checks.

Timeline:

The total incentivized testnet period is expected to last ~4 months, including two phases each lasting ~60 days. Phase 1 (Mirovia Era) will focus on network resilience and node operations, whereas Phase 2 (Panthalassa Era) will focus on reward mechanisms and delegations. Developer and non-technical tasks will be available throughout the program.

About Subsquid:

The open-source nature of blockchain ledgers has revolutionized the amount of data that is publicly accessible to developers building on-chain. Extracting and transforming can be a complex process, and data that are directly accessed via nodes can be (1) costly to maintain; and (2) difficult to customize/transform without resulting in long latency. Subsquid is a decentralized network that allows developers to quickly access cost-efficient blockchain data from more than 100 different chains using its open-source SDK.

Infinitely scalable modular architecture: Subsquid is the only data network that emphasizes a modular approach to indexer development. Developers are able to retrieve data from the decentralized data lake using Squid SDK, a Subgraph, or their preferred framework, utilizing the most appropriate infrastructure for their project.
Flexibility for next-gen use cases: Subsquid’s extremely permissive open-source indexing tools allow developers to customize their data sources and targets whilst applying their own custom logic.
“Spotify for Web3 data:” The Subsquid Network’s economic model is designed to gradually bring data costs for Web3 developers to zero.

Useful/Community Links

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