Acala Welcomes SubQuery to Polkadot Parachain

Key Takeaways

Decentralized information indexing and also inquiring remedy SubQuery has actually introduced that it will certainly release on the Acala parachain.
Acala is the initial job to win a parachain public auction and also protect its put on the Polkadot network.
SubQuery purposes to be the hand job to launch a token and also an outside application on Acala.

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SubQuery, a leading information gathering, indexing, and also inquiring remedy on Polkadot, has actually introduced that it will certainly release on Acala’s parachain.

SubQuery Heads to Acala Parachain

SubQuery is introducing its decentralized indexing and also inquiring remedy on Acala.

🚀 We are honored to reveal that the launch of the SubQuery Network will certainly get on the @AcalaNetwork #Parachain!

SubQuery purposes to be the first exterior application to launch on Acala’s #DeFi center & will certainly utilize on their future #EVM+ 💥

More: https://t.co/rgh6q4PCfq pic.twitter.com/UxrDI1cXcL

— SubQuery (@SubQueryNetwork) November 25, 2021

SubQuery introduced today that it will certainly release its solution on the Acala parachain—a leading clever agreement system wishing to end up being the residence of DeFi on Polkadot. SubQuery’s solution opens blockchain information and also changes it right into a queryable state, enabling programmers to index, procedure, and also question information much faster and also without constructing their very own internal information handling remedies.

Acala won the initial Polkadot parachain public auction previously this month, safeguarding a two-year parachain lease that will certainly last till Oct. 20, 2023. Parachains are specific, application-specific blockchains that link to Polkadot’s Relay Chain to make the network extra scalable. To sign up with the Polkadot network, tasks should protect their area by bidding process for among 100 parachains via laying Polkadot’s DOT token in parachain public auctions. Acala triumphed for the initial port after directly defeating Moonbeam in a candle light public auction.

Commenting on the choice to choice Acala over various other parachains, SubQuery chief executive officer and also owner Sam Zou stated: 

“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.”

In a news release, SubQuery stated that it thought about different choices prior to selecting a details parachain however eventually opted for Acala since it will certainly provide EVM compatibility. Once Acala launches on Dec. 18, financiers will certainly be able to flawlessly join SubQuery’s token generation occasion and also acquisition SQT symbols via their MetaMask purses on the Ethereum network.

Bette Chen, a founder of Acala, described that the job would certainly work as Polkadot’s DeFi center, accumulating possessions and also liquidity from different 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,” he stated, talking the cooperation in between both tasks.

The SubQuery Network and also the SQT token schedule to be the initial exterior application and also token to launch on Acala.

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