Acala, the first mission to stable a Polkadot parachain, is getting a info indexing and querying resolution thru the SubQuery Community.
Key Takeaways
- Decentralized info indexing and querying resolution SubQuery has announced that it’ll launch on the Acala parachain.
- Acala is the first mission to expend a parachain auction and stable its situation on the Polkadot network.
- SubQuery objectives to be the fist mission to launch a token and an external application on Acala.
SubQuery, a number one info aggregation, indexing, and querying resolution on Polkadot, has announced that it’ll launch on Acala’s parachain.
SubQuery Heads to Acala Parachain
SubQuery is launching its decentralized indexing and querying resolution on Acala.
🚀 We’re proud to tell that the launch of the SubQuery Community will doubtless be on the @AcalaNetwork #Parachain!
SubQuery objectives to be the 1st external application to launch on Acala’s #DeFi hub & will leverage on their upcoming #EVM+ 💥
Extra: https://t.co/rgh6q4PCfq pic.twitter.com/UxrDI1cXcL
— SubQuery (@SubQueryNetwork) November 25, 2021
SubQuery announced on the present time that it’ll launch its service on the Acala parachain—a number one shipshape contract platform hoping to turn out to be the house of DeFi on Polkadot. SubQuery’s service unlocks blockchain info and transforms it into a queryable affirm, permitting developers to index, job, and request info principal sooner and with out building their very beget in-house info processing solutions.
Acala won the first Polkadot parachain auction earlier this month, securing a two-yr parachain hire that can last except Oct. 20, 2023. Parachains are individual, application-particular blockchains that join to Polkadot’s Relay Chain to compose the network extra scalable. To brand up for the Polkadot network, initiatives must stable their affirm by bidding for one in all 100 parachains thru staking Polkadot’s DOT token in parachain auctions. Acala came out on prime for the first slot after narrowly beating Moonbeam in a candle auction.
Commenting on the decision to purchase Acala over other parachains, SubQuery CEO and founder Sam Zou stated:
“We beget dauntless growth plans, but our house will continuously be Polkadot. By partnering with Acala, the most attention-grabbing DeFi platform on Polkadot, we have got absolute self assurance in their capability to serve us now not handiest in our token launch, but additionally in future areas such as micropayments for indexers all over networks.”
In an announcement, SubQuery stated that it regarded as diverse alternatives sooner than settling on a particular parachain but finally settled for Acala as a consequence of it is going to provide EVM compatibility. As soon as Acala launches on Dec. 18, investors will doubtless be in a affirm to seamlessly take part in SubQuery’s token abilities occasion and care for SQT tokens thru their MetaMask wallets on the Ethereum network.
Bette Chen, a co-founding father of Acala, explained that the mission would act as Polkadot’s DeFi hub, aggregating property and liquidity from diverse blockchains. “We’re excited in recount to continue our shut relationship with SubQuery and launch the SQT token and SubQuery shipshape contracts on our platform,” he stated, talking of the collaboration between the 2 initiatives.
The SubQuery Community and the SQT token are because of be the first external application and token to launch on Acala.
