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Summary

Subsquid’s SQD token is set to be listed on several tier-one cryptocurrency exchanges, including Gate.io, Bybit, KuCoin, CoinList, and MEXC Global, on May 17, 2024. The token’s listing follows a successful oversubscribed token sale by Coinlist, raising $6.3 million.

Introduction

Subsquid, a Web3 data access layer, has announced the upcoming listing of its SQD token on major cryptocurrency exchanges. The trading markets for SQD will open at a launch price of $0.094, enhancing liquidity and accessibility to the native Subsquid token across different platforms.

Main Points

SQD plays a vital role in the Subsquid ecosystem by incentivizing infrastructure providers and rewarding node operators who contribute computational and storage resources. Additionally, the token is instrumental in node curation and supporting protocol governance within the network.

Marcel Fohrmann, Co-Founder of Subsquid, expressed enthusiasm about the token’s listing on various trading venues, highlighting the network’s ability to provide trustless and permissionless access to on-chain data, replacing RPC nodes for data reads.

Conclusion

The listing of SQD on tier-one exchanges signifies a significant step towards decentralization and wider accessibility of Subsquid’s network to web3 users. This move will empower SQD holders to actively engage with Subsquid’s protocol and participate in its permissionless data economy, fostering the growth of decentralized web3 dapps and analytics.

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