SubQuery is delighted to announce a partnership with Tapio and Taiga Protocol who are developing a synthetic asset standard for the Polkadot and Kusama ecosystem.Tapio and Taiga Protocol's mission is to remove liquidity siloes created by different formats of staking and crowdloan derivatives and called upon SubQuery as their data backbone to bring their ambitions to fruition.
"With the rapid adoption of crypto applications and use cases, we require reliable and high performance on-chain data solutions to enable standardised data collection and analysis workflows. SubQuery has built a comprehensive suite of infrastructure and data solutions enabling protocol teams to query data on the blockchain quickly and comprehensively." - Terry Lam, Co-Founder of Tapio and Taiga
As the Polkadot and Kusama ecosystem matures, the team behind Tapio and Taiga anticipate high growth and utility for their synthetic asset solutions (taiKSM, tDOT, 3pool).. With this expected growth, it is crucial for them to understand protocol usage data in order to evaluate stability and risk metrics. Tapio and Taiga Protocol make use of SubQuery's data provisioning capabilities in two ways:
- Building their usage dashboards which enables stakeholders to visualise usage analytics. Specifically, their dashboards display comprehensive data on synthetic asset mint, redemption, yield composition and trading volume. Currently, the team have created 3 dashboards covering taiKSM, 3pool and tDOT using SubQuery's data services.
- Leveraging SubQuery as indexer for our backend services and relying on SubQuery to index historical on-chain data which allows convenient access to reliable data powering their servers and the applications built on top.
"Having learned about* Taiga's work with Acala *to become the inaugural synthetic asset protocol on Karura, SubQuery was excited to work with Taiga and Tapio to optimise their applications via seamless provision of on-chain data. It's great to see the pace a team can progress at when not having to worry about building and maintaining infrastructure." - James Bayly, Head of Business Development*
Tapio and Taiga are using SubQuery Projects to manage their own project and make updates as required. They take advantage of SubQuery's enterprise-level hosting to receive dedicated databases, automated deployments, and geographic routing to multiple clusters around the world for performance and uptime.
You can find more information about Tapio and Taiga and the data they leverage from SubQuery via their Acala project and Karura project located in our Explorer.
About Tapio & Taiga
Tapio is a synthetic asset protocol enabling efficient liquidity for staking, crowdloan and uniform assets. It is designed to remove liquidity silos by synthesizing different formats of derivatives into a highly usable synthetic asset on Polkadot. Taiga is the mirror implementation of Tapio on Kusama.
Tapio officially started in early 2021 when we received our first Web3 Foundation Open Grant. We are also the inaugural recipient for the Acala Ecosystem Grant. Our team is composed of engineers, financiers, security experts and serial entrepreneurs based in Canada, China and U.S.
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About SubQuery
SubQuery is a blockchain developer toolkit enabling others to build Web3 applications of the future. A SubQuery project is a complete API to organise and query data from layer-1 chains. Currently servicing Polkadot , Substrate and Avalanche projects, this data-as-a-service allows developers to focus on their core use case and front-end, without needing to waste time on building a custom backend for data processing. The SubQuery Network proposes to enable this same scalable and reliable solution, but in a completely decentralised way.
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